HomeMy WebLinkAbout1998 11-05 FCM• MINUTES OF THE PROCEEDINGS OF THE FINANCIAL COMMISSION
OF THE CITY OF BROOKLYN CENTER
NOVEMBER 5, 1998
CITY HALL, CONFERENCE ROOM B
CALL TO ORDER
Chair Donn Escher called the meeting to order at 7:02 P.M. in Conference Room B.
ROLL CALL
Present at roll call were Chair Donn Escher, Commissioners: Jerry Blarney, Jay Hruska, Tim
Elftmann and Gavin Wilkinson. Also present were City Manager Michael McCauley and Finance
Director Charlie Hansen. Council Liaison Kay Lasman was absent and excused. Commissioners
Larry Peterson and Stanley Leino were absent and unexcused.
Annroval of Minutes
A motion was made by Commissioner Jerry Blarney to approve the minutes of the August 6, 1998
meeting. Commissioner Jay Hruska seconded the motion and all members voted in its favor
except for Commissioner Gavin Wilkinson who abstained.
Agenda
A motion was made by Commissioner Gavin Wilkinson to approve the agenda. Commissioner
• Jay Hruska seconded the motion and all members voted in its favor.
Undate on the 1999 budget.
Donn Escher explained the budget process for new Financial Commission members.
Michael McCauley reviewed presentations on the Liquor Stores and Golf Course budgets which
have been made to the City Council. The General Fund proposed budget contains some additional
full-time personnel. Overall revenues are up 2.44 Personnel costs are going up 3 % and fringe
benefits are going up more than 3
Policv and Procedure on Reouests for Proposals for Financial Professional Services.
Charlie Hansen reviewed the policy which was adopted in 1996 to establish an orderly process for
selecting firms to provide these services. A key issue in 1996 was the need to do RFPs for several
services where an RFP hadn't been done for ten to twenty years. The schedule was established
for two services to be reviewed each year to work through this backlog.
Doing two RFPs per year exerts a heavy burden on Finance Department resources. We have
progressed to the point where no service has gone more than eight years since an RFP and most
have been less than five. The proposal is to change the schedule so that only one RFP is done
each year and the year 2000 shall be skipped. Auditor is the RFP currently scheduled for 2000.
Audit firms are likely to be extra busy in 1999 and 2000 dealing with their client's year 2000
• problems and therefore less interested in responding to an RFP. City staff may also be busy with
unforseen year 2000 problems.
1.
A motion was made by Commissioner Tim Elftmann to recommend the Schedule of Requests for
Proposals Alternative #2 to the City Council. Commissioner Gavin Wilkinson seconded the
motion. In discussion, it was suggested that the Financial Advisor be moved from 2005 to 2004
and the Custodian for Investments be moved from 2004 to 2005.
A motion was made by Commissioner Gavin Wilkinson to recommend the amended Schedule of
Requests for Proposals Alternative #2 to the City Council. Commissioner Jay Hruska seconded
the motion and all members voted in its favor.
Renort on 1998 bond sales and bond refunding.
Charlie Hansen reported that the City would sell bonds on November 23, 1998 in the amounts of
$1,085,000 to finance special assessments for the neighborhood street improvements and
$1,585,000 to refinance state aid road bonds originally sold in 1991.
Citv Manager Undates.
Michael McCauley provided updates on the Brookdale Center and several other developments and
events in the city.
Annual Financial Renort for 1997.
The report and graphics from the auditor's presentation to the City Council were distributed.
Next Meeting.
The next meeting of the Financial Commission will be on Thursday, January 7, 1999 at 7:00 P.M.
ADJOURNMENT
Commissioner Jay Hruska moved to adjourn the meeting at 8:33 P.M. Commissioner Jerry
Blarney seconded the motion and all members voted in its favor.
•
3