1994.02.10_FAB_Minutes_Regular. a
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TOWN OF HIGHLAND BEACH
FINANCIAL ADVISORY BOARD
REGULAR MEETING - MINUTES
Thursday, February 10, 1994 1.00 P.M.
Chairman S. Myron Browner called the Regular Meeting to order in Com-
mission Chambers at 1:00 P.M.
Deputy Town Clerk Doris Trinley called the roll. Present were the
Chairman, Vice Chairman Victor P. Hadeed and Regular Members Fred
Firstenburg and Thomas J. Reid. Regular Member Frank Magarace was
absent.
Also present were Town Manager Mary Ann Mariano, Finance Director
Michael Seaman and respresentatives from Haas, Diaz & Co., the Town's
auditors.
Upon MOTION by MR. FIRSTENBURG/MR. REID, the Minutes of the Regular
Meeting held on September 21, 1993 were unanimously approved.
OLD BUSINESS
is The Town Manager advised that the employees' health care plan had been
switched over to Travelers as of December 1993.
CORRESPONDENCE
None.
NEW BUSINESS
Review of Fiscal Year 1992/1993 Financial Report
For the record, Chairman Browner noted Mr. Seaman's being awarded the
"Certificate of Achievement for Excellence in Financial Reporting" for
the second year running and joined the panel in congratulating Mr.
Seaman on this achievement.
After acknowledging Debbie Diaz of Haas, Diaz & Co., and inviting her
to join in the discussion and review, the Chairman then invited each
member of the Board to ask questions or make comments on the financial
report. Items discussed included:
.an explanation of some of the Town Hall complex areas
that needed to be upgraded, i.e., modify fire/rescue
facilities to accommodate the large new fire truck that
will be purchased; move Police Department to larger,
Financial Advisory Board
Regular Meeting - Minutes
February 10, 1994 Page 2 of 2
more modernized quarters, expand library facilities, etc.
It was also noted that a Scope of Services contract in this
regard had been awarded to Gee & Jenson.
.regarding the purchase of the new rescue vehicle, Ms. Diaz
explained that the vehicle is considered a General Fund
asset and these assets are not depreciated, rather they are
expensed out at the time of purchase.
Ms. Diaz next reviewed with the panel the information presented in the
"Financial Highlights" bulletin, which was also prepared by her
firm. (Copy attached to and made part of these Minutes.) She also
introduced Wendy Douglas, a Senior Auditor with Haas, Diaz & Co., Ms.
Douglas was Supervisor for the Town audit.
After noting for the record the several typographical errors to be
corrected, Chairman Browner complimented Ms. Diaz on the report and
called for a Motion to recommend that the Town Commission accept it
as presented. Such MOTION was made by MR. HADEED/MR. REID and met
with unanimous favorable vote.
There being no further business to come before the Board at this time,
the meeting was adjourned at 1:15 P.M.
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APPROVE:
S. Myron Btowner, Chairman
ictor P. Htideed, Vita Chairman
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Thomas J. Reid