HomeMy WebLinkAbout1993 05-11 FCM• MINUTES OF THE PROCEEDINGS OF THE FINANCIAL COMMISSION
OF THE CITY OF BROOKLYN CENTER
MAY 11, 1993
BROOKLYN CENTER CITY HALL, COUNCIL CHAMBERS
CALL TO ORDER
Chair Donn Escher called the meeting to order at 7:30 P.M. in the
City Hall Council Chambers.
ROLL CALL
Present at roll call were Chair Donn Escher, commissioners, viola
Kanatz, Pat Boran, Ulyssess Boyd and Denis Kelly. Also present
were Council Liaison Dave Rosene, City Manager Gerald Splinter and
Finance Director Charlie Hansen. Commissioner Ned Storla arrived
at 7:36 P.M.
Charter Commission
Brooklyn Center Charter Commission Chair Bev wolf sent a letter
requesting input as to changes which might be needed to the City
Charter. The idea of creating term limits at 12 years was
discussed. Council Liaison Dave Rosene will contact her to relay
this suggestion.
Finance Commission Membership
Council Liaison Dave Rosene presented the proposal that the
• membership be increased from seven to nine. The City Council is
considering this because of the upturn in citizen interest and
because the Human Rights and Resources Commission wishes to
increase their membership to meet their workload. After a
discussion, the Finance commission indicated that they feel seven
members works well for this commission and see no need for a
change.
Cauital Expenditure Policv
Commissioner Pat Boran presented the Capital Expenditure Policy as
currently written and noted that only the General Fund and the
Capital Improvements Fund have unrestricted Fund Balances which
need an expenditure policy. Finance Director Charlie Hansen
presented alternatives to two sections of the policy. First was in
the section titled "AUTHORITY TO SPEND" paragraph A. which reads:
Expenditures from $0 to $100,000: Not eligible for funding
from the capital improvements fund. Funding required through
the general fund.
Hansen recommended reducing the $100,000 limit to $50,000. It will
be difficult to fund projects of this size from the General Fund
given the budgetary pressures existing there. City Manager Gerald
Splinter endorsed this change. The commission decided not to
reduce the limit.
•
• Second was in the section titled "SPENDING LIMITATION/FUND BALANCE
REQUIREMENT:" paragraph C. which reads:
Fund Balance Requirements: At all times the unrestricted
portion of the capital improvements fund must be at least 25%
of the general fixed asset fund and exceed the total
expenditures for the first three years of the capital
improvements plan.
After discussion,.it was decided to replace it with the following:
Fund Balance Requirements: At all times, a minimum fund
balance shall be maintained in the amount of $3,000,000 as of
January 1, 1993 and increased by the Consumer Price Index each
year thereafter.
Commissioner Dennis Kelly moved that the Capital Expenditure Policy
be approved as revised and referred to the City Council.
Commissioner Pat Boran seconded the motion. Commissioners Boyd,
Escher, Storla, and Kanatz voted in favor of the motion. The
motion passed.
ADJOURNMENT
There was a motion by Commissioner Ned Storla and seconded by
Commissioner Pat Boran to adjourn the meeting. The motion passed
unanimously.
•
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