11-21-88 Finance Comm Minutes;, .
FINANCE/PERSONNEL & POLICY/INSURANCE
8:15 AM NOVEMBER 21, 1988
• The meeting was attended by Councilmen Nystul (Chairman), Saverud and Hopkins,
Clerk/Treasurer Halver and City Accountant Robertson.
1. Annual Banking Bids
The Camdttee reviewed the sum ary of the bids presented by the local banks for
the City's short term investments contract for the year.
They agreed to recommend the bid of Valley Bank for a fixed rate of 8.09% on
$1,000,000 and .44 basis points below the Federal Fluids Rate on the balance.
2. Declare Heritage Day
Halver reported the general concensus of the employees was to have the day after
Thanksgiving as Heritage Day. He said the council has to formally declare the
Holiday.
The committee agreed to recormend passage of a resolution declaring this.
3. Quarterly Approval of Pledged Securities
The ccnrnittee reviewed the Pledged Securities and agreed to reconTnend approval
under the council's consent agenda.
4. Tax Increment Fund Revenue Bond Proceeds
City Accountant Robertson reminded the Carmittee there should be some designation
of the Council's intention of haw they will be using the proceeds by December 15.
• Councilman Saverud said they should have something for the December 5, 1988
meeting. Robertson said she was concerned about our meeting IRS requirements.
Saverud said he thought Mae Nan Ellingson was going to give us an opinion.
5. Business Licenses
The committee agreed to poll the council tonight to see how they want to proceed.
They asked that City Attorney Neier review the draft and report his
reccamendations.
They also requested Mayor Kennedy write a cover letter and share the draft with
the Charrber and seek their input.
6. Ambulance Accounts Receivable
Councilman Nystul reported another credit bureau is interested in working on the
Arrbulance Accounts Receivable Collections and suggested they be allowed to have
1/2 the alphabet to work on.
Councilman Saverud said he thought at budget time the council requested the City
Attorney handle the collections with a series of collection letters.
The committee requested the Mayor to contact the City Attorney about this. They
decided the administration could handle the apportionment of work among the
collection agencies.
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FINANCE/PERSON & POLICY/INSURANCE
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8:15 AM
7. Board Appointments
Councilman Hopkins asked about the procedure for appointment of city
representatives on various boards. He will talk to Mayor Kennedy.
Councilman Nystul requested we be put on the mailing list of the various boards
so we get minutes and other information from then.
Councilman Saverud wondered if Mayor Kennedy would review his proposed
appointments with the council before the appointment hits the council floor.
8. Health Board Emergency Budget
Clerk/Treasurer Halver reported the City/County Health Board will ask for an
Emergency Budget because of the costs of dealing with the Measles Outbreak.
Halver said he, and County Administrative Assistant Earl Bennetts, were concerned
because the preliminary cost figures for the emergency appeared to contain costs
for existing budget items such as normal working hours staff time.
The committee discussed the possibility of having City Taxpayers included in the
County Levy. They decided we should check into the possibilities.
9. Capital Projects Find Group Budget
City Accountant Robertson said she will have to have a budget approved for the Two
Accident Investigation Vans and the other donated property to handle the
• accounting procedures required.
10. Approve Claims
The formal meeting was adjourned and the ccrnmittee reviewed claims.
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