2001.05.16_FAB_Minutes_Regular• FINANCIAL ADVISORY BOARD
QUARTERLY MEETING
MINUTES
Wednesday, May 16 2001 9.30 A.M.
Chairman Felix R. Goldenson called the meeting to order at 2:00 P.M. in Commission
Chambers. In attendance were Chairman Goldenson, Vice -Chair Marianne Salibello and
Members Byron R. McKinley, Charles D. Cohn and S. Myran Browner. Also present
were Town Manager Ben Saag, Finance Director Stan Novak and members of the
general public.
APPROVAL OF MINUTES
Upon MOTION by MR. COHN/MR. BROWNER, the Minutes of the February 6, 2001
Quarterly Meeting were unanimously approved.
NEW BUSINESS
Quarterly Financial Report
The members discussed the March and April Quarterly Reports, with all questions
• answered satisfactorily.
Review of Town's Investment Policy
Mr. Novak walked the members through the recommended changes to the Town's
Investment Policy, noting the expanded list of authorized investments the Town may
consider. A future meeting will be held in the August timeframe whereby a broker will
speak to the board regarding these different investment options.
Request for Proposal for Audit Services
Mr. Saag noted that the Town is going to seek proposals for audit services, stating that
he is happy with the Town's current auditor, but feels it is important every few years to
see what competition is out there, and keep current auditor in check as far as their
charges for services. A date of June 25 has been set for an FAB meeting to hear
auditor presentations.
OTHER BUSINESS
A budget review meeting was scheduled for July 16 at 9:30 a.m.
nth no further business to come before the Board, MOTION to adjourn was made by
• MR. BROWNER/MR. COHN, at 10:45 a.m.
• Financial Advisory Board
May 16, 2001 Page 2 of 2
APPROVAL
Felix R. Goldenson, Ch.
Marianne Salibello, V.Ch.
B�nk Kinle
Charles D. Cohn
S. Myron Browner
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