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Finance Committee

March 16th, 2009

Meeting Minutes

Attendees: Joe Maurer, Chair, Joe Hudson, Finance Committee, Bernice Schreiber, Fiscal Officer, George Skipper, Council, Wendy Gillund, Council, Chief Pitts, Dale Berger

Meeting Called to Order at 7:02PM

Review of Accounts Payable

Discussion of various items on the list with satisfactory answers to all questions.

Payables Approved by the Finance Committee for submission to Council.

Review of February Financial Statements

The Financial Statement review indicates that revenues are slightly below budget this year primarily due to lower interest income. Revenues are well below last years actual revenues primarily due to lower RITA receipts and to a lesser extent reduced interest income. Actual expenses for the month were generally in line with budgeted amounts for all departments

Other Discussion Items

Discussion of insurance proposal from Love Insurance. Finance Committee

Recommends approval of this proposal.

Discussion of the potential purchase of a new truck for the Service Department. Chief Pitts to prepare a formal presentation of his recommendation at the April Finance Committee meeting.

Discussion of opening an account with Fidelity Brokerage to increase interest earnings while maintaining safety of principal. The Committee recommends the opening of the new account.

Discussion of street cleaning and the use of the remaining inventory of Hadite.

Meeting adjourned at 8:00PM

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