1987.04.21_FAB_Minutes_RegularTOWN OF HIGHLAND BEACH, FLORIDA
FINANCIAL ADVISORY BOARD
MINUTES OF REGULAR MEETING
Tuesday, April 21, 1987 9 30 A.M.
A Meeting of the Financial Advisory Board was held at 9:30 a.m. on
Tuesday, April 21, 1987 at Town Hall.
Members present included Richard Brunton, Benjamin Cohen, Walter
Peklenk, and Reese James. Commissioner Robert F. Scholz and Town
Manager Hugh D. Williams were also present throughout the meeting.
The Minutes of the March 30 and April 13, 1987 Meetings were approved
as published.
There being no correspondence, the F.A.B. addressed the following
agenda items:
SIX -MONTHS FINANCIAL STATEMENT, MARCH 31, 1987.
With the continuing exception in the Finance Department, as noted
in last months comments, there appeard to be no noteworthy items.
In accordance with the agreement at the joint meeting with the
® Commission on April 13, 1987, the F.A.B. recommends that the Town
Manager highlight and comment on all items in the Revenue and
Expenditure Statements that exceed a 5% variance in the monthly '
figures. This approach assures the Commissioners of an early
alert to exceptional variation.
WATER/SEWER ENTERPRISE FUNDS.
The F.A.B. was disappointed in not having received, nor available,
a written proposal from the Town Manager and Finance Director as
had been promised for this meeting. The matter will again be
scheduled for the next F.A.B. meeting.
EMPLOYEE RETIREMENT PLAN.
In this matter too, the F.A.B. was disappointed in not having
available the additional information that was to be developed by
the Town Manager.
EMPLOYEE WAGES AND BENEFITS.
The Town Manager reported that the Town Commission had authorized
engaging Long Associates to conduct their study and that the
"Long" report should be available on or about June, 1987.
® Minutes of Financial Advisory Board Regular Meeting
April 21, 1987
Page 2
INVESTMENT POLICY.
At the F.A.B. Meeting on April 13, 1987, the Finance Director
agreed to have a draft proposal available for F.A.B. review at
this (April 21, 1987) meeting. This was not available, nor was
the Finance Director available for discussion of the matter.
In view of the comments above, the F.A.B. could not make any progress
on its' agenda items and, therefore, adjourned at 11:00 a.m.
The next F.A.B. meeting will be held on Tuesday, May 12, 1987 at
9:30 a.m.
Respectfully submitted,
. Reese E. James, Chairman '
REJ:elk
cc: FAB Members
Town Commission
Town Manager ,
Finance Director
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