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04-27-88 Finance Comm MinutesFINANCE/PERSONNEL & POLICY/INSURANCE 4:00 PM APRIL 27, 1988 • THE MEETING WAS AMENDED BY CHAIRMAN COUNCILMAN NYSTUL, SAVERUD AND SCHIIDLER AID CLERK/TREASURER HALVER 1. Discuss Auditor Selection Councilman Nystul referred the co mittee members to the staff report suggesting we continue to use the state for audits. Nystul proposed we go ahead and solicit from accounting firms and see who is interested. He felt additional savings might be achieved if we had an option of a third year audit in the contract. Nystul gave Halver a sample request for proposal and suggested a one page letter be sent out asking interested firms to request the RFP. The carmittee asked that proposals be secured from the State and CPA's. They were more inclined to use CPA's if a local firm was interested. 2. SID Revolving Fund Financing Halver handed out a proposed resolution requiring a fee amounting to 5% of the principal on SID bonds and Sidewalk and Curb Warrants to be deposited in the SID Revolving fund. He explained how the revolving fund is used and said the other methods of funding the revolving fund are through a general tax levy or appropriations from the General Fund. Councilman Nystul said he had been opposed to this proposed funding method in the past. He felt improvements done benefit all of the city. • After discussion, the carmittee decided to recommend the resolution, as amended to apply only to SID bonds, not Sidewalk and Curb Warrants. • 3. Auto Use Policy Chairman Nystul said the Mayor has been asked to find out who is using City Vehicles so we can pick the method for determining the value of the use and let the affected employees know what their tax liability. The carmittee decided to recommend the method of $1.50 per one-way cormute and have the Mayor notify the affected employees. Halver explained that clearly marked emergency or service vehicles are exempt. Also unmarked vehicles are exempt if the user responds directly to emergencies from home. 4. Budgeting Nystul asked if the cormittee wanted to give any direction in the budget preparation process. Halver said it is still a little soon to know how we stand compared to last year. He also reviewed the status of various levies in light of I-105. Nystul will report at the next council meeting that it is time to start on the budget. Halver said the Mayor has already sent a memo on that. - 1 - FI1P14CE/PERSON[\1EL & POLICY/IkWRANCE 4:00 PM APRIL 27, 1988 • 5. Salary Matrix Councilman Nystul asked the other committee members if they have reviewed Klepper's format. He suggested the committee handle the matrix from now on and present the developed plan to the full council. 6. First Alley West Funding Councilman Nystul reported the funding won't be fully firmed up until bids are opened but the proposal is to use $200,000 carryover and $200,000 new Tax Increment Money and some from Sewer and Storm Sewer. He said it may be necessary to sell a small issue Revenue Bond, perhaps to a Bond Reserve Fund at an attractive rate. 7. "Eagles" Parking Lot Councilman Nystul asked the Committee's concurrence to have the Clerk/Treasurer review the boundaries and feasibility of using the Parking Maintenance District Assessment to help pay the debt on the parking lot. The committee agreed. The intention is to see if next year's payments can be paid by the district. 8. Griffin Field Councilman Nystul requested the Clerk/Treasurer review the minutes to clearly determine the intention of the council for the use of the proceeds from the sale of "Old Griffin Field". He also requested it be made perfectly clear the Council does not intend to spend any more on the new Griffin Field. The committee agreed to the research and will further discuss this at the next • committee meeting. 9. Health Insurance Councilman Saverud suggested the committee review our health insurance options, such as self insurance, at a future committee meeting. The committee concurred. 10. Street Reconstruction Councilman Nystul requested the committee require street reconstruction hiring of trucks, etc., be done through bidding with the bid rates strictly followed. 11. Call for Bids - Fuel Councilman Nystul requested the committee call for bids for fuel at their next meeting. - 2 -