1998.05.26_FAB_Minutes_SpecialTOWN OF HIGHLAND BEACH
• FINANCIAL ADVISORY BOARD
SPECIAL MEETING MINUTES
Tuesday, May 26, 1998 9 35 A.M.-
Chairman Felix R. Goldenson called the Regular Meeting to order in
Town Hall at 9:35 A.M.
Deputy Town Clerk Jane Dillon called the roll. Present were
Chairman Felix R. Goldenson, Members Byron McKinley, Charles D.Cohn
and Marianne Salibello. Vice Chair John DeMarco was absent.
Finance Director Stan Novak and Vice Mayor Thomas Reid were also
present.
APPROVAL OF MINUTES
Upon MOTION by MR. MCKINLEY/MR. COHN, the minutes of the April 21,
1998 Regular Meeting were unanimously approved.
OLD BUSINESS
Change in Contribution to Pension Plan
• The Board discussed the proposed 8/2 change in the employer/
employee contribution to the Pension Plan. It was stated that the
Gross payroll as it stands now is $960,000 and this change would
add an additional $48,000 a year. The following MOTION was made by
MS. SALIBELLO/MR. MCKINLEY:
The Financial Advisory Board recommends adoption by the
Town Commission on the change in contribution to the
Town's Pension Plan.
Unanimous vote was taken.
Loan Policy Guidelines
Some discussion ensued on this, with Mr Novak noting that not all
particulars were in place yet, but recommended the availability of
this to all employees.
The following MOTION was made by MR. COHN/MR. MCKINLEY
The Financial Advisory Board approves support of the Loan
Guidelines and recommends approval by the Town
Commission.
Unanimous vote was taken
•
Financial Advisory Board
May 26, 1998 Paste 2 of 3
Workman's Compensation Policy
After review of the Workman's Compensation Policy, and all
questions satisfactorily answered, the following MOTION was made by
Mr. GOLDENSON/MR. COHN.
The Financial Advisory Board approves the Workman's Comp.
Policy and recommends approval by the Town Commission.
Unanimous vote was taken.
Light Duty Policy
Subject policy was deferred until the next scheduled meeting on
June 30,1998, due to the need for additional information in order
to review same.
Proposed Changes to Purchasing Policy
The Policy was reviewed with the Board making some noted changes of
which Attorney Sliney will review. The following MOTION was made
by MR. COHN/MR.MCKINLEY: .
. THE FINANCIAL ADVISORY BOARD RECOMMEND APPROVAL BY THE
TOWN COMMISSION ON THE CHANGES TO THE PURCHASING POLICY,
SUBJECT TO TOWN ATTORNEY'S APPROVAL OF CHANGES.
Unanimous vote was taken.
The next FAB meeting is scheduled for June 30 at 9:30 a.m. With no
further business to come before the board at this time, MOTION to
adjourn was made by MR. GOLDENSON/MR. COHN at 11:10 A.m.
APPROVE:
Felix R. Goldenson, Chairman
absent
John R. DeMarco, Vice Chairman
Byron-R. McKinley
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Financial Advisory Board
Charles D. Cohn
4 :ems
Marianne Salibello
Attest:
Date: