2017.01.10_FAB_Minutes_Regular�F NIGHLgNO
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TOWN OF HIGHLAND BEACH
TOWN COMMISSION
FINANCIAL ADVISORY BOARD MINUTES
Town Hall / Commission Chambers
3614 South Ocean Boulevard
Highland Beach, Florida
1. CALL TO ORDER:
Date: January 10, 2017
Time: 9:30 AM
Chair Giacoma called the Regular Meeting to order at 9:00 A.M. in the Town
Commission Chambers. Roll call was taken by Deputy Town Clerk Gaskins followed
by the Pledge of Allegiance.
PRESENT UPON ROLL CALL:
Chair Bruce Giacoma
Board Member Dragos Alexe
Board Member David Buchsbaum
Board Member Lori Wolin
Board Member Greg Babij
Board Member Edward Kornfeld
Finance Director Cale Curtis
MEMBERS ABSENT:
Board Member Ronald Robins
2. ADDITIONS, DELETIONS OR ACCEPTANCE OF AGENDA:
Chair Giacoma called for any additions, deletions to the agenda, hearing none, the agenda
was accepted as presented.
3. PUBLIC COMMENTS AND REOUESTS:
There were no public comments.
4. PRESENTATIONS:
A. Introduction of New Member Greg Babij
Member Babii introduced himself and provided his background. The Board welcomed
Member Babij.
5. APPROVAL OF MINUTES:
Financial Advisory Board Regular Meeting Minutes
Tuesday, January 10, 2017 Page 2 of 3
• December 15, 2015 — Regular Meeting
Chair Giacoma called for a motion to approve the December 15, 2015 Regular Meeting
minutes, as presented.
MOTION: Member Buchsbaum moved to approve the minutes of the December 15, 2015
Regular Meeting as presented. Member Kornfeld seconded the motion, which passed
unanimously.
6. OLD BUSINESS:
None.
7. NEW BUSINESS:
A. Appointment of Board Chair
MOTION: Member Alexe moved to re -appoint Bruce Giacoma as Chair. The motion
was seconded by Member Kornfeld, which passed unanimously.
B. Appointment of Board Vice Chair
MOTION: Chair Giacoma moved to appoint Greg Babij as Vice Chair. The motion
was seconded by Member Alexe, which passed unanimously.
C. Discussion of 2017 Financial Advisory Board Meeting Schedule
Meetings are held as needed and shall occur as called by the Town Manager.
Board Discussion:
Member Kornfeld provided comments with regard to the role of the Board. He advised that
there is a lot of talent on the board and feels as if they are under unutilized. He stated that
there were two very significant substantial budget items last year, and we were not asked
to review them or make comments. He expressed his hope for the Commission to reach
out to the Board more often.
Chair Giacoma agreed with Member Kornfeld and believes the Board should be an
oversight committee.
Discussion ensued with regard to the procedures for calling a board meeting and the current
budget process.
Financial Advisory Board Regular Meeting Minutes
Tuesday, January 10, 2017 Page 3 of 3
At the request of Member Buchsbaum, Finance Director Curtis provided the financial
highlights of 2016 with respect to our financial position and upcoming major projects. He
stated that the Town's financial position is very healthy. The total general fund balance is
approximately $6.5 to $7 million, which is why the Commission has been able to lower the
tax rate over the last 2 years. There has been quite a bit of redevelopment in Town, and he
expects to see our tax value to continue to increase over the next few years.
Member Komfeld questioned Finance Director Curtis regarding the status of the $5 million
loan for the main replacement project and upgrade to the water plant. Finance Director
Curtis explained that the loan agreement is written and in the review process. When
approved, it will go before the Commission and be passed by a resolution. The interest
rates are still 1.8/ 2 percent.
Member Buchsbaum questioned Finance Director Curtis with regard to the police contract
and asked if there were any significant changes in the police contract that was renewed in
2016. Finance Director Curtis explained that there was no renewal of the contract since it
does not expire until this September. He explained the process and advised that the
contracts are for a three-year period.
Member Kornfeld asked about the fire contract and requested clarity on the term of the
contract. Finance Director Curtis provided the details of the contract and advised that the
contract is for a ten-year period however there has been a significant change to the funding
of the contract. He further explained the process of the contract.
Member Buchsbaum questioned about the status of the hiring of a new Town Manager.
Deputy Town Clerk Gaskins provided information regarding the current process for hiring
a new manager.
ADJOURNMENT:
There being no further business to come before the Board, Chair Giacoma called for a
motion to adjourn the meeting.
MOTION: Member Buchsbaum moved to adjourn the meeting at 10:02 AM. The motion
was seconded by Member Alexe, which passed unanimously.
APPROVED:
TOWN SEAL
erisha Cuebas
Deputy Town Clerk
Date: November 1, 2017