HomeMy WebLinkAbout2012-01-03 Finance Committee Minutes
FINANCE COMMITTEE
January 3, 2012
Minutes
Councilors: Durgin, Gratwick, Weston, Gallant, Longo
Staff: Cyr, Yardley, Morgan
1. Consent Agenda
a. Bids Awarded by Staff – December 2011
Cyr noted a portable sewage pump was awarded Godwin Pumps.
b. Park Woods Lease - Community Health and Counseling Services
This is a one-year extension of a lease for the units CHCS leases in Park
Woods.
c. Order, Authorizing Application for a $10,000 Grant from Maine Air National
Guard Education and Outreach Program
These grant funds are used for education and outreach purposes specifically
within the Capehart Stream. It requires no local match.
d. Order, Authorizing Application for a $45,000 Grant from the U.S. EPA Urban
Waters Small Grant Program
This is a stormwater related grant. This does require a local match which will
be met through in-kind services of staff already working on stormwater
issues.
A motion was made and second to approve and accept the Consent Agenda items.
Responding to Gratwick, Morgan discussed details of the two stormwater grants. The
vote was unanimous.
2. Financial Review – November 2011
Cyr reviewed the materials provided to the Council with their agenda packet.
Weston asked about general assistance revenue. Cyr responded that it is based on
when the service is billed to the State. The turnaround time is about 30 days. In
response to Weston’s question concerning the breakdown of departmental transfers
versus non-transfer revenue and expenses, Cyr said that it is simple as she can key-off
the codes.
Gratwick and Cyr discussed debt service TIF’s. Gallant, Durgin, Longo, Durgin, and Cyr
discussed the general assistance reimbursement, the waterfront concert revenues and
the Penobscot County budget. Cyr reviewed the Enterprise Funds. Weston talked
about the waterfront concerts and wanting discussions to look at the stream of revenue
as a whole. Longo spoke about waterfront concert revenue applied to the arena fund.
Cyr said that discussion has not taken place but is something the Council might want to
consider going forward. Responding to Gallant, Cyr said that snow removal and fuel
are subcontracted at Parks Woods. R&K Construction manages the Park Woods
facilities. Regarding the Parking Fund, Public Works does the plowing.
Cyr talked of the 2011 Comprehensive Annual Financial Report. She has arranged for
the external auditors to make a presentation to the Finance Committee on February 6,
2012.
The Committee’s next regularly scheduled meeting falls on a Monday holiday. At this
point, Cyr does not anticipate any items needing to come before the Committee.
In checking with Durgin, they agreed that the meeting would be canceled.
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The City will be selling bonds on January 24 and it will be necessary for the Finance
Committee to hold a special meeting on that date to approve the details of the bond
issue.
Weston asked that the entire Council be invited to the financial audit presentation.
Committee adjourned at 5:39 pm.