1989.06.13_FAB_Minutes_RegularTOWN OF HIGHLAND BEACH
• FINANCIAL ADVISORY BOARD
REGULAR MEETING - MINUTES
Tuesday, June 13, 1989 9 30 AM
A Regular Meeting of the Financial Advisory Board was called to order
by Chairman Fred Firstenburg at 9:30 AM on Tuesday, June 13, 1989 in
the Commission Chambers at Town Hall.
Members present included Chairman Firstenburg, Vice Chairman Benjamin
Cohen, Mr. Richard Brunton and Mr. Victor Page. Mr. Grover Ensley was
absent.
Also present for the meeting were Mayor Joseph Boulay, Town Manager
Mary Ann Mariano, Chief Accounting Officer Stanley Novak, Deputy Town
Clerk Redawna Bavender and Secretary Doris Trinley.
The Regular Minutes of May 16, 1989 were approved as submitted, all
members voting AYE.
OLD BUSINESS
Regarding additional funds which were included in the FY 1989/90 Budget
to cover a possible increase in salaries for the Town Commission,
• Chairman Firstenburg suggested that such monies be put into a
contingency fund. After some discussion, it was the CONSENSUS of the
members to accept such suggestion.
Town Manager Mariano advised that two additional expenditure items were
added into the 1989/90 FY Budget under "Other General Government": a
fax machine and a floor buffer. Mrs. Mariano explained that a fax
machine would eliminate the need for courier services and the purchase
of a floor buffer is indicated to keep the recently installed tile in
good repair.
After further discussion, it was the CONSENSUS of the Financial
Advisory Board to accept the inclusion of these two expenditures,
totalling approximately $2,550, in the 1989/90 FY Budget.
NEW BUSINESS
Review of April Financial Statement
Mr. Novak reviewed both the revenue and expenditure portions of the
April Financial Statement and pointed out the various areas of minor
discrepancies. He noted that overall the Statement was on target.
Regarding revenues, Mr. Novak called attention to a 41.6% increase
created by a demand for building permits and an increase in interest
income created by a change in banking procedures. Regarding
expenditures, Mr. Novak related that the advertising portion of the
Comprehensive Plan will be coming to a close this year.
FINANCIAL ADVISORY BOARD
. June 13, 1989
Regular Meeting - Minutes Page 2 of 2
Town Manager Mariano noted that water usage was up 10% due to a lack of
rainfall (17" vs. 46" YTD) which created additional revenues of about
$38,000. She also noted that revised billing procedures for
water/sewer regarding the Holiday Inn will result in revenues of
approximately $15,000 for this fiscal year.
Mr. Brunton questioned the $100,000 cash balance brought forward in the
sewage fund. Mrs. Mariano explained this excess is expected to be
spent within the 1991/92 timeframe for major upgrades in the sewage
system.
Discussion re 1989/90 FY Budget
Mr. Novak presented a millage rate calculation which related to
different millage rate options and noted the millage rate would
probably be decreasing this coming fiscal year.
Mr. Novak also stated the Consumer Price Index (CPI) figure at the end
of April 1989 was 5.3%, which figure any across the board increase will
be based on in conformance to the Town's personnel policy.
The next meeting was scheduled for July 11, 1989 at 9:30 AM at which
time the members will review the entire budget package, as well as
recommend a tentative millage rate.
Following a MOTION by Mr. Brunton/Mr. Cohen, th meeting wa adjourned
at 10:40 AM. /
APPROVE
Fred Firstenbunrg, Chairman
` i/
Ben' in en, Vi Chairman
ich rd Brunton
- 48,5E�lT -
Grov Ensle
V ctor Page
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