1998.01.26_FAB_Minutes_RegularTOWN OF HIGHLAND BEACH
• FINANCIAL ADVISORY BOARD
REGULAR MEETING MINUTES
Monday, January 26 1998 9 30 A.M.
Chairman Felix R. Goldenson called the Regular Meeting to order in
Town Hall at 9:30 A.M.
Deputy Town Clerk Jane Dillon called the roll. Present were
Chairman Felix R. Goldenson, Vice Chair John R. DeMarco, Members
Bryon McKinley, Charles D. Cohn, and Marianne Salibello Finance
Director Stan Novak, Town Manager Mary Ann Mariano and Commissioner
Thomas Reid were present as well as members of the general public.
APPROVAL OF MINUTES
Upon MOTION by MR. COHN/MR. MCKINLEY, the minutes of the December
19, 1997 Regular Meeting were approved.
NEW BUSINESS
The agenda was amended to hold Election of Officers prior to
discussion of the Comprehensive Financial Report.
Election of Officers
• Upon Motion by Mr. DeMarco/Mr. Cohn, FELIX R. GOLDENSON was re-
elected as CHAIRMAN for 1998.
Upon Motion by Mr. Cohn/Mr. McKinley, JOHN R. DEMARCO was re-
elected as VICE-CHAIRMAN for 1998.
Review Comprehensive Financial Report
Mr. Hass and Ms. Diaz of Hass, Diaz & Co. were present to review
subject report with the Board. Several changes were noted and will
be made prior to the report going to the Town Commission.
MOTION was made by JOHN R. DEMARCO/MR. MCKINLEY that the
Financial Advisory Board accept the Comprehensive Annual
Financial Report as amended, and recommends the Town
Commission adopt same.
The Board voted unanimously.
There was discussion on reviewing quarterly budgets at each FAB
Quarterly Meeting. Mr. Novak stated that he would provide this at
the March meeting.
Ms. Mariano noted that she would like the Board to review the
Personnel, Investment and Purchasing Policies, one per year on a
rotating basis, starting with the Purchasing Policy at the March
• Quarterly Meeting.
Financial Advisory Board
• January 26, 1998 Page 2 of 2
Other New Business
Chairman Goldenson stated that he felt Stan Novak qualified more as
an employee, not a contractor, due to IRS regulations on
contractual work, and the amount of extra hours he is putting into
his position. Mr. Goldenson suggested that Mr. Novak be placed on
payroll as a full time employee, with the Town Manager and the
Board agreeing to same.
There was discussion on the Town's umbrella policy with Titan
Insurance, and recommendation that it be increased from $8 million
to $13 million, with a total coverage of $15 million. This will
cost the Town an additional $5,000 yearly. A memorandum will be
sent to the Commission with the Board's recommendation of same.
With no further business to come before the Board at this time,
MOTION to adjourn was made by MR. DEMARCO/MR. COHN at 11:15 A.M.
APPROVE:
• Felix R. Goldenson, Chairman
n R. D arco, Vice Chairman
Bryon"R . MgAqnle
Charles D. Cohn
Marianne Salibello
Attest: 1�-
Date:
•