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HomeMy WebLinkAbout1996 08-13 FCMMINUTES OF THE PROCEEDINGS OF THE FINANCIAL COMMISSION • OF THE CITY OF BROOKLYN CENTER AUGUST 13, 1996 CITY HALL, CONFERENCE ROOM B CALL TO ORDER Chair Donn Escher called the meeting to order at 7:00 P.M. in the Conference Room B. ROLL CALL Present at roll call were Chair Donn Escher, Commissioners: Ned Storla, Jay Hruska, and Larry Peterson. Also present were Council Member Kathleen Carmody, City Manager Michael McCauley, and Finance Director Charlie Hansen. Commissioner Lee Anderson was excused. Commissioners Ron Christensen and Phillip Roche were unexcused. -AWroval of Min e A motion was made by Commissioner Ned Storla to approve the minutes of the May 15, 1996 meeting. Commissioner Jay Hruska seconded the motion and all members voted in its favor. Mavor and Council Member Total Compensation Mike McCauley reported that an ordinance was adopted on August 12th which sets the Mayor's salary at $8,000 and Council Members salary at $6,000 for 1997. For 1998 these amounts will be increased by 2.75 % to $8,220 for the Mayor and $6,165 for the Council Members. • & Quest for Proposals for Banking and Financi4j Services Charlie Hansen explained that this RFP was being done a year earlier than called for in the policy for Financial Profession Services due to a change in the way our current bank is handling our account. The draft RFP was discussed and several changes proposed including space for the banks to select to have their terms effective for a third year. A motion was made by Commissioner Larry Peterson to recommend the draft RFP to the City Council as amended. Commissioner Jay Hruska seconded the motion and all members voted in its favor. Comnrehensive Annual Financial Ren_ ort for 1995 The report had been distributed with the agenda packets. Extensive discussion followed on the topics of: delinquent taxes receivable, accrued vacation and sick leave liability, post retirement health insurance liability, the operating losses at the Earle Brown Heritage Center, and engineering fees reimbursed to the General Fund by the capital projects funds. Capital and Infrastructure Needs Mike McCauley reported on the City's capital and infrastructure needs and raised the possibility of changing the Capital Improvements Fund Expenditure Policy to meet the needs. Ned Storla suggested a review of the policy at the next meeting and a tour of some of the facilities. Next Meeting The next meeting will be Thursday, September 12, 1996 at 7:00 P.M. • ADJOURNMENT A motion was made by Commissioner Jay Hruska to adjourn the meeting at 8:40 P.M. Commissioner Ned Storla seconded the motion and all members voted in its favor.