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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. th 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.