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1994.10.14_FAB_Minutes_Regularr • TOWN OF HIGHLAND BEACH, FLORIDA FINANCIAL ADVISORY BOARD REGULAR MEETING MINUTES October 14, 1994 9:30 a.m. Chairman S. Myron Browner called the Regular Meeting of the Financial Advisory Board to order at 9:30 a.m. in the Commission Chambers. Others present were Vice Chairman Victor P. Hadeed, Members Thomas J. Reid, John R. Demarco, and Werner Wm. Rothenberg. Also in attendance were Town Manager Mary Ann Mariano, Town Clerk Anne M. Kowals, CMC, and Finance Director Michael Seaman. APPROVAL OF MINUTES During discussion of the July 19, 1994, Regular Meeting Minutes, Mr. Reid noted he would like the record to reflect that had he be in attendance at said meeting, he would have voted in favor of the millage increase. MOTION by MR. HADEED/MR. ROTHENBERG to approve the July 19, 1994, Regular Meeting Minutes with the addition of a footnote indicating Mr. Reid's statement cited above. The MOTION received unanimous • approval. At this time, Mr. Demarco read into the minutes (a copy of which is attached to and made a part of these minutes) a statement regarding his votes cast at the July 19, 1994, Regular Meeting. Mr. Reid stated it is personally his understanding that the Committee work should be both nonpolitical and nonpartisan, that anybody has an absolute right to stand on their own individual and citizen credentials, and he therefore could not stand up, as a member of this Board, and criticize, nor comment, nor alter or imply correction of an activity that's done on this Board; I think that's out of order. And, to criticize another member is simply out of order. The Chairman directed that Mr. Reid's statement be included in the Minutes of this Financial Advisory Board Meeting. OLD BUSINESS/CORRESPONDENCE None. NEW BUSINESS Review Budget Transfers • During discussion of the 'Budget Transfers', Mr. Reid noted he would have thought that the transfers and the adjustments would • Financial Advisory Board Regular Meeting Minutes October 14 1994 Page 2 of 4 have been appropriate before establishing the proposed budget or voting on the proposed budget for the new calendar year inasmuch as he feels that would reflect the actual activity of the year and that information should have been presented as part of the discus- sion on any given new year's budget. The Town Manager advised that a lot of this data is unknown until the end of the year which is well after the new budget is adopted. The Finance Department has to wait for a lot of the final numbers before it is really known where the transfers will be. This is merely bookkeeping --it does not increase or decrease the total budget --it puts money where it is really needed so payments can be made out of the department that funds are actually spent in. As the budget review commences in May, the Finance Department has no idea what budget transfers will be necessitated. Mr. Rothenberg noted when the books are closed at the end of September ( the end of the fiscal year) , then you have the final figures; what is probably needed (possibly the end of June) is some sort of a projection covering these items (even if they have not as yet been approved or expended) so that, if it affects the new • budget, it can be considered by the Board. The Town Manager stated more work is need on 'Column 6' of the 'Budget Summary - Expenditures' for any up -coming budget. It was recommended the Board look at the monthly statements, right at the time, because they should show the encumbrances that are coming up. Mr. Hadeed suggested the "Budget vs. Actual" Summary, prepared by the Finance Director and submitted to the Members at this Meeting be made available to the FAB on a monthly basis. It was further suggested that another column (PROJECTED) be included in said Summary; and, if monthly "Projection" is not feasible, perhaps that column can be done on a quarterly basis, with emphasis on June 30 which is when the new budget process begins. It was noted that would coincide with the fact that the FAB should meet bi-monthly. In discussion regarding an over -expenditure relating to the sewer system operations, the Town Manager advised there had been a faulty meter where the Town pays Delray for sewer services. The meter has been replaced and the Town will be getting credits to recoup the funds that were over -expended this year. Mr. Hadeed noted that, on a 3.3 million dollar budget to project within two to three per cent is not bad. The Town Manager suggested that the FAB meet at least every other • month and the meeting before the meeting that the budget process is begun, we get very specific with regard to what information we want • Financial Advisory Board Regular Meeting Minutes October 14, 1994 Page 3 of 4 and we will give the Finance Department time to prepare whatever information is required to help you through your budget deliberations. At this point, MR. ROTHENBERG presented a MOTION that the Chairman can call bi-monthly meetings in conjunction and in coordination with the Town Manager so as to create a joint agenda. Mr. Reid stated that perhaps, after April of each year, the FAB should meet more frequently because of the budget process. MR. HADEED SECONDED the above MOTION proposed by Mr. Rothenberg. During discussion of the MOTION, it was noted that it may be neces- sary for the FAB to meet more often during the budget process therefore, said MOTION was amended as follows: "Beginning in January, the Chairman can call bi-monthly meetings in conjunction and in coordination with the Town Manager so as to create a joint agenda." • The MOTION received unanimous approval. At this point, discussion regarding the budget transfers continued and the Town Manager, citing the 'Budget Transfer and Amendment Policy' that has been in effect since 1988, noted certain transfers are done administratively and certain transfers need to go through the FAB and then through the Town Commission. Based on today's discussions, the Town Manager requested the FAB Agenda for the January, 1995, Meeting include the review of the 'Budget Transfer and Amendment Policy'. At the conclusion of substantial deliberation, MR. HADEED/MR. REID made a MOTION to approve the budget transfers as presented. The Members unanimously approved the MOTION. Noting more than 20 rafts came ashore in Town, the Town Manager advised she is putting data together and will attempt to obtain Federal reimbursement for the cost of removing (from the beach) and properly disposing/dismantling the rafts. At this point, Chairman Browner, alluding to data from Liberty National Leasing Company regarding the financing of a fire truck as well as an increase in garbage rates, requested any action required on these matters be deferred to another meeting to allow Members to study the information distributed by the Finance Director to the FAB at today's meeting. It was the consensus the Members should not be asked to take action on something that is presented to them on the day of the meeting. • 9 0 Financial Advisory Board Regular Meeting Minutes October 14, 1994 Page 4 of_4 The Town Manager advised the FAB is not being asked to act on the two issues presented this date. Noting the matter of garbage fees is addressed each year at this time, the Town Manager advised that page one of the submittal (a copy of which is attached to and made a part of the Minutes) indicates the current rates and the proposed rates that are required to pay the garbage costs; page two of that submittal breaks out the fees and shows the County Sanitation rates for curbside unites, etc. Town Manager Mariano advised the Liberty National Leasing Company information (a copy of which is attached to and made a part of the Minutes) relates to our fire truck; the bid has been awarded and we know what the cost is. The Town Commission has to enter into the purchase agreement on November 01. The Town Manager stated she feels the FAB will have to meet with regard to this matter. Further, the Town Manager noted all the information regarding the truck that has been approved is included and the FAB is requested to review the matter prior to the execution of the contract. It was the consensus to schedule a meeting on Friday, October 28, 1994, at 9:30 a.m. For the record, Vice Chairman Victor Hadeed left the meeting at 10:15 a.m. Further discussion ensued with regard to the proposed garbage rate increase and it was noted that, if the current rate is not increased, a deficit will result. The Town Manager noted that, with regard to the fire truck issue, a recommendation from the FAB is requested as the Town Commission will have to take action on the matter on November 01, 1994. There being no further business - Advisory Board at this time, upon MR. ROTHENBERG, Chairman Browner a.m. APPROVED: to come before the Financial proper MOTION by MR. REID/ adjourn d the meeting at 10:35 . Myron Browner, Cha' an Ihomas J f2e Vic r P . Tac]�eed, ce irman Ii//i ohn R. D rc _; Werner Wm. Rot enberg I ATTEST : Date : ( ��%�= s c / AMK • COMMENTS BY: JOHN R. DEMARCO FINANCIAL ADVISORY BOARD PRESENTED AT: FINANCIAL ADVISORY BOARD MEETING OF 10/14/94 I wish to make a few comments relative to my integrity and competence to serve on the Financial Advisory Board. we just unanimously approved the Minutes of July 19, 1994, Regular Meeting. Relative to the two motions approved pertaining to (A) the increase of the millage .6338 to a total of 4 mils, and, (B) to amend the budget and to accept same with increases as noted. I hereby state that I voted "AYE" for the two motions in good conscience and self -deliberation without outside influence. I feel that my forty years experience in accounting, finance, administration, and managerial positions is prime background to • serve as a member of the Financial Advisory Board. I have been a member of the Board of Directors of the Coronado Ocean Club Condo Assn. for the past four years in which I have been active in the financial and budgetary aspects of the association, in addition to other duties. In retrospect, my past experiences,' background, and present affiliation did provide me with an insight on the two aforementioned motions in which I voted in the affirmative. •