1986.11.24_FAB_Minutes_RegularTOWN OF HIGHLAND BEACH, FLORIDA
FINANCIAL ADVISORY BOARD
MINUTES
Monday, November 24, 1986 9.30 A.M.
A Meeting of the Financial Advisory Board was held at 9:30 a.m. on
Monday, November 24, 1986 at Town Hall.
Members present included Richard Brunton, Ben Cohen and Reese James.
Member absent was Walter Peklenk. Town Manager Williams was also in
attendance throughout the meeting.
The Minutes of the November 10, 1986 Meeting were approved as publish-
ed.
There were no items of correspondence.
Inasmuch as the Town Finance Director was still in the process of
"loading" data into the computer, the matter of the Town's financial
statement format was deferred until the next FAB Meeting.
The Town Manager gave an update on the status of sewage controversy
with Delray Beach. The FAB continues to have concern over the extent
of the yet final undetermined financial liability for this service from
Delray Beach.
The available data regarding employees wages and benefits were reviewed
with the Town Manager agreeing to develop further information for this
review.
The current method of allocating insurance costs was discussed during
which the Town Manager and Finance Director presented their proposal
for such allocation which included:
1) in 4ome areas using fixed assets as the basis,
2) the Enterprise Funds carry their appropriate share, and
3) seeking opinion from Town's Auditor and Insurance Carrier as
to their recommendations.
The proposed impact fee was then reviewed by the Town Manager following
which he advised that he was preparing an alternate written proposal
which would be available on or about December 5th for review by the FAB
in preparation for its next meeting.
The meeting adjourned at 11:45 a.m. with the next meeting scheduled for
9:30 a.m. Monday, December 15, 1986.
copies: FAB Members
Town Commissioners
Town Manager
Resp tfully submitted,
Reese E. James, Chairman