1987.03.02_FAB_Minutes_RegularTOWN OF HIGHLAND BEACH, FLORIDA
FINANCIAL ADVISORY BOARD
MINUTES OF REGULAR MEETING
Monday, March 2, 1987 9.30 a.m.
A meeting of the Financial Advisory Board was held at 9:30 a.m, on
Monday, March 2, 1987 at Town Hall.
Members present included Richard Brunton, Benjamin Cohen, and
Reese E. James. Member Walter Peklenk was absent.
Commissioner William A. Grier and Town Manager Hugh D. Williams
were also present throughout the meeting.
The minutes of the February 17, 1987 meeting were approved as.
written.
A memorandum from the Town Manager was received regarding the'
staffing of the Finance Department. Although preliminary
discussion indicated that the F.A.B. was favorably inclined to the
Town Manager's and Finance Director's recommendation of the need
for an additional full-time position in the Finance Department, it
was determined that the matter would be held over until the next
F.A.B. meeting in order to allow time for further study.
It was also noted in published summary of the Town Commission
Meeting of February 24, 1987 that the Town Commission is consider-
ing an ordinance for increasing the Town's connection fees with
regard to water and sewer hook-ups. This was the first indication
to the F.A.B. that this financial matter was being considered and
further, that the F.A.B. was not being included in the assessing
process. While the F.A.B. is fully cognizant that the Commission
may, at its' discretion, undertake this matter without F.A.B.
input, it is hoped that the Commission will be interested in and
seek F.A.B. advice on all financial matters of the Town.
Acting upon the recommendation of the Town's auditing firm
(Management Letter, Page 3, Item 13), the F.A.B. initiated
discussion regarding the merging of the Water and Sewer Enterprise
Funds. Preliminary discussion indicates no disadvantage to the
Town and its' financial recordings and the Town Manager and
Finance Director have agreed to provide the F.A.B. with a
"position paper" on this matter, including a January 31, 1987
(four month) combined Financial Statement and a projection of
long-term financial needs of these utility activities.
The Employee Wage and Benefit matter is still in process of
gathering current comparative data from comparable towns and this
matter will be included in the next F.A.B. meeting.
Financial Advisory Board Regular Meeting Minutes
March 2, 1987
Page 2
The F.A.B. has been verbally advised that the Employee Retirement
Board is requesting the F.A.B. to assist in the review of its
present fund management. This matter is being deferred, pending
such a written request for this Board's involvment.
It was noted that this meeting is Commissioner Grier's last
participation with the F.A.B. and it's members wish to thank
Mr. Grier for his faithfulness in attendance and his input into
our discussions. It has been a pleasure to all of us to have his
involvment and we wish him well in his new community.
The meeting adjourned at 11:40 a.m. with the next meeting being
scheduled for Wednesday, March 18, 1987 at 9:30 a.m. -
Respectfully submitted,
Reese E. James, Chairman
REJ:elk
cc: F.A.B. Members
Town Commission
Town Manager
Finance Director