Loading...
HomeMy WebLinkAbout1996 02-01 FCA• AGENDA BROOKLYN CENTER FINANCIAL COMMISSION February 1, 1996 City Hall Council Chambers 1. Call to Order: 7:00 P.M. 2. Roll call. 3. Approval of Minutes: November 9, 1995 4. Election of Officers for 1996. 5. Requests for Proposals for Various Professional Services. 6. Mayor and Council Member Total Compensation. • a. Method of compensation. b. Calendar for setting compensation levels for 1997 and 1998. 7. Address to Joint Meeting of City Council and Advisory Commissions. 8. Set Date of Next Meeting. 9. Adjournment: 9:00 P.M. 40 • MINUTES OF THE PROCEEDINGS OF THE FINANCIAL COMMISSION OF THE CITY OF BROOKLYN CENTER NOVEMBER 9, 1995 CITY HALL, CONFERENCE ROOM A CALL TO OR17F Chair Donn Escher called the meeting to order at 7:00 P.M. in Conference Room A. ROLL CALL Present at roll call were Chair Donn Escher, Commissioners: Ned Storla, Larry Peterson, and Phillip Roche. Also present were Council Liaison Kathleen Carmody and Finance Director Charlie Hansen. Commissioners Ron Christensen, Lee Anderson, and Jay Hruska were excused by Chair Donn Escher. Chair Donn Escher added an item 5b, City Council Compensation, to the agenda An_ nroval of Minutes A motion was made by Commissioner Phillip Roche to approve the minutes of the May 4, 1995 meeting. Commissioner Ned Storla seconded the motion and all members voted in its favor. Results of Citizen Survev by Decision Resources Inc. • There was considerable discussion of the findings of the survey. Charlie Hansen reported that one of the main findings was that there was support within the community for a bond issue for police and fire facilities. Commissioners also noted support for a senior center and possibly some other facilities. It was noted that findings on the size of a bond issue differed when the question was posed as the total amount of bonds to be issued or as the additional dollars per month the individual would be willing to pay to support a bond issue. It was decided that a presentation by Decision Resources was needed. The City Council was urged to schedule such a presentation and invite the Financial Commission. -a„aital Improvements Program Charlie Hansen began the discussion with a review of the Capital Improvements Fund Expenditure Policy. This was followed by a discussion of the listing of capital improvement needs. When the item for replacing the radio system was reached, an extensive discussion followed of the option of going to Hennepin County for dispatch services instead of continuing on our own. Commissioner Phillip Roche moved that the Financial Commission is supportive of the City Council setting priorities for the capital outlay needs so that an appropriate bond issue can be submitted to the voters. Commissioner Ned Storla seconded the motion and all commissioners voted in its favor. 0 . Citv Council Comnensation Donn Escher reported on a City Council meeting where a proposal was made to compensate City Council members on the basis of meetings attended. The Financial Commission discussed this proposal. Commissioner Ned Storla moved that the method of compensation, as well as the amount of compensation, be addressed the next time the Financial Commission studies City Council compensation. Commissioner Larry Peterson seconded the motion and all commissioners voted in its favor. RFP for Financial Advisor Services Charlie Hansen reported that the City Council had directed that an RFP for Financial Advisor Services be done before the next time the City issue bonds and that he wants to complete that process this winter. Commissioners Ned Storla, Larry Peterson, and Phillip Roche volunteered to serve on the sub-committee to evaluate candidate firms. Next Meeting The next meeting will be Thursday, January 11, 1996 at 7:00 P.M. ADJOURNMENT The Financial Commission adjourned the meeting at 9:28 P.M. • 0 • • MEMORANDUM TO: Michael J. McCauley, City Manager CC. Financial Commission Chair Donn Escher, Members Ned Storla, Ron Christensen, Lee Anderson, Lawrence Peterson, Jay Hruska, Phillip Roche, and Council Liaison Kathleen Carmody FROM: Charlie Hansen, Finance Director C H DATE: January 29, 1996 SUBJECT: Requests for Proposals for Various Professional Services On two occasions during 1995, the City Council directed me to do Requests for Proposals (RFPs) during 1996. The first instance came up in the summer as we were selling bonds and sought approval to use Springsted Inc. as the city's financial advisor to help assemble and market the bond sale. The second instance came up as we were appointing auditors for the year ended December 31, 1995. An RFP for auditors was done in the summer of 1994 and Deloitte & Touche was selected with the intention of using them for at least three years. I had planned to bring a draft RFP for financial advisor services before the Financial Commission at this meeting. Financial Commission Members Ned Storla, Larry Peterson, and Phillip Roche have volunteered to serve on a sub-committee to take part in the selection. You indicated in our initial discussions of where the Finance Department and the City are at and where you want them to go, that we may do some reordering of priorities. In view of the need to reformat our budget and address issues such as bonding needs and the operations of several of our enterprise funds, RFPs may not be the highest priority for 1996. However, you do want to establish a schedule for doing RFPs which will get them addressed in an orderly fashion and include all professional services relating to financial management. 0 Services handled by the Finance Department include: Auditor Financial Advisor for bond sales Insurance Agent Risk Management Consultant Banking Services Custodian Services for holding investment securities Some RFPs have been done as recently as 1994, others haven't been done since before the tenure of any of the current staff. Factors which I recommend for consideration in setting a schedule and subsequent RFP evaluation include: Cost verses quality of service The value of a consultant's knowledge of the City Demands on staff time when doing RFPs Demands on staff time when changing consultants • 0 POLICY AND PROCEDURE ON MAYOR AND COUNCIL MEMBER TOTAL COMPENSATION I. NEED FOR POLICY: The community is entitled to a clearly articulated, written description of the policy and procedure for establishing the total compensation of local elected officials. II. POLICY: 1. Service on the City Council is a civic obligation and an honor. The total compensation of the Mayor and Council Members should, therefore, not encourage candidacies based on monetary rather than public service objectives. However, the compensation of Brooklyn Center elected officials shall be fair and equitable in order to attract qualified candidates for local elective office. 2. The propriety of the compensation levels of the Mayor and Council Members shall be evaluated through comparisons with compensation paid to similar officials within the seven county metropolitan area. 3. The compensation levels of elected officials should be regularly reviewed and adjusted to ensure compliance with the objectives of this policy and to avoid the need for drastic or sudden compensation adjustments. 4. Compensation set pursuant to this policy and procedure shall be deemed to be the total compensation for elected officials of the city with the exception of expense reimbursement which shall be the same as provided all other city employees. III. PROCEDURE: 1. The City Manager shall biennially conduct a survey of compensation paid to elected officials of comparably sized municipalities with similarly sized budgets and tax bases in the seven county metropolitan area. Surveys prepared by the Association of Metropolitan Municipalities or the League of Minnesota Cities may be utilized in lieu of the City Manager's survey. 2. The City Manager shall biennially prepare a compensation report that contains an analysis of the survey information. The report shall compute the average amounts paid to Mayors and Council Members and correlate survey results to the current compensation of Brooklyn Center elected City officials. 0 3. The City Manager shall submit the compensation report to the City Council and the Financial Commission prior to June 1, for information pertaining to the applicable calendar year. 4. The Financial Commission shall biennially review the City Manager's compensation report and discuss possible budgetary and public perception impacts of the indicated changes. Prior to July 1, of the same year, the Commission shall recommend to the City Council that the compensation of the Mayor and Council Members either remain the same or be changed to some specific amount in the manner prescribed by law. 5. Consistent with the City Charter, Section 2.07, the Mayor and Council Members may, after conducting public hearings, set their compensation by ordinance. No change in compensation shall be in effect until January 1, following the next succeeding general election. IV. AUTHORITY: The authority for establishing compensation for the Mayor and Council Members is found in Minnesota Statutes 415.11 and the City of Brooklyn Center Charter, Section 2.07. • a 0