1987.01.20_FAB_Minutes_RegularTOWN OF HIGHLAND BEACH, FLORIDA
FINANCIAL ADVISORY BOARD
Tuesday, January 20, 1987 9.30 A.M.
A Meeting of the Financial Advisory Board was held at 9:30 a.m. on
Tuesday, January 20, 1987 at Town Hall.
Members present included Richard Brunton, Ben Cohen, Walter Peklenk
and Reese James. Commissioner Grier and Town Manager Williams were
also present throughout the meeting.
The Minutes of the January 5, 1987 Meeting were approved as published.
Under the item "Correspondence" the Chair reported that he had commun-
icated with the Mayor re a "Seminar on Financial Records" and the
Employee Retirment Board and at this time was awaiting a response from
the Mayor. The Chair also reported that the Town Commission, at their
January 6, 1987 Meeting had designated the FAB to act as the Audit
Review Committee for the Commmission and "conduct the exit interview
with Coopers & Lybrand relative to the recently completed outside
audit".
There was a brief discussion as to whether the present Employee Re-
tirement Plan meets the criteria for a "qualifying plan" under IRS
regulations. Town Manager Williams advised that he has requested the
TownAttorney to advise on this and other questions re the Employee
Retirment Plan.
The matter of the Town Financial Reports was again discussed and it
was concluded that the FAB would regularly review these reports at its
second meeting each month.
The Town Manager, with the Finance Director, updated the FAB on the
continuing matter of the Town's computer/software programs. At this
time there also was discussion of concerns for the finance department
staffing needs. The Town Manager advised that he would give further
study to this matter and file a written evaluation with the FAB for
its consideration.
The meeting adjourned at 11:25 a.m. with the next meeting being
scheduled for Thursday, February 5, 1987 at 9:30 a.m.
Res tfully submitted,
cc: FAB Members Reese E. James, Chairman
Town Commissioners
Town Manager