1985.03.25_FAB_Minutes_RegularT
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TOWN OF HIGHLAND BEACH, FLORIDA
FINANCIAL ADVISORY BOARD
MARCH 25, 1985 10.00 A.M.
A meeting of the Financial Advisory Board was held at 10:00 A.M. Monday,
March 25, 1985 at the Town Hall. Those attending included Ben Cohen,
Reese James, Joe Murania and the Alternate Member, Walter Peklenk. The
Town Manager was also present throughout the meeting.
Inasmuch as a new chairman had to be elected by the members, this became
the first item of business. The members then presented their individual
personal commitments and, following a discussion, it was agreed that
Reese James would serve as chairman.
The Town Manager then referred to his memo of March 11, 1985 in which he
outlined the process for the development of the Town Budget.
There then followed a wide ranging discussion regarding the budget in-
cluding such items as
a) Legal Fees
A five year review pointed out that this fee had
increased by 75/.
b) Collection of garbage fees
Fee for services vs. millage charge. It was noted that
of over 3,200 private residences, that individual homes
account for 400, with the balance being some form of
multi -family unit. The subject of payment of fees was
related to the ability to deduct such fees from the
property owner's income taxes thru payment of the ser-
vice thru a town millage rate.
c) Water tower maintenance needs
It was pointed out that the tower was last painted in
1980 and it is in need of draining, sanding and
painting. The Town Manager agreed to provide the
board with a specific recommendation after conferring
with the Public Utilities Director.
The subject of funding for replacement of capitol equipment items and
major repair items was discussed. It was the sense of the board that
good accounting and financial management procedures recommend a funding
program based upon the expected life of the item and that such funding
provides for a more equitable distribution of the expense involved pro-
viding that proper and strict controls are incorporated in the estab-
lishment of such a program. The Town Manager agreed to develop and
present to the Financial Advisory Board an appropriate proposal.
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FINANCIAL ADVISORY BOARD
MARCH 25 1985 Pa e 2 of 2
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A discussion was also held regarding the number of town employees and
the Town Manager agreed to provide the Financial Advisory Board with
the number of full time equivalent positions in each department.
Another item that received some preliminary discussion was the format
of the Town Financial Reports. The Town Manager informed the Financial
Advisory Board that this item was on his list of matters to be reviewed.
There being no further business at this time, the meeting adjourned at
11:30 A.M. with the next meeting to be held on Monday, April 22, 1985
at 10:00 A.M.
CC: F.A.B. Members
Town Commission
Town Manager
amk/4-3-85
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Respectfully submitted,
Reese E. James, Chairman