1986.02.20_FAB_Minutes_RegularOI r
TOWN OF HIGHLAND BEACH, FLORIDA
FINANCIAL ADVISORY BOARD
February 20, 1986 10.00 A.M.
A meeting of the Financial Advisory Board was held at Town Hall on
Thursday, February 20, 1986, at 10:00 a.m.
Those attending included Members Richard Brunton, Ben Cohen and
Reese James. Member Walter Peklenk was absent. Commissioner
Grier and Town Manager Williams were unable to attend due to a
scheduled Town Commission Meeting at the same time.
The Minutes of the February 11, 1986 Meeting were approved as
written.
The following subjects were then taken up:
- Town Organizational Chart
Discussion deferred due to the absence of the Town
Manager.
- Town investment policy/practice
Richard Brunton presented a review of this matter that
included the applicable state laws, this Town's current
practices, and the policy of Pompano Beach. Mr. Brunton
also pointed out that Boca Raton, Boynton Beach and
other communities are also reviewing and/or developing
policies for their own guidance on this subject.
Following discussion, it was agreed to develop more
information for this Board's next meeting.
- Potential unfunded liability for sewage
This matter was again discussed and several questions
were raised that are most relevent to the subject. It
was agreed that the chair would seek answers to these
questions in time for our next meeting.
- The loss of Federal/State Revenue Sharing
Information from the Town Manager indicates that our
potential loss can be as much as $140,000. A ranging
discussion followed regarding the impact this loss would
have on Town finances and also possible ways and areas
for meeting this impact. This matter will receive
further attention at a future meeting but in time for
the 1986/87 budget projection.
if
Financial Advisory Board Minutes
February 20, 1986
Page 2 of 2
The meeting adjourned at 12:00 noon.
Re p ctfull submitted,
Reese E. James, Chairman
Copies: FAB Members
Town Commissioners
Town Manager