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HomeMy WebLinkAbout1994-04-04 Finance Committee MinutesFina a Cmmftt Wil 4, 1994 Gamittee Menta Present: C. Snllivm, Chair• D. Soucyr P. Rlan:hxsre, W. �, G. Saldemi Omvcil %®here Presentx C. Poppet', J. 4ylm Staff Preamtx E. Barrett, J. ^�, D. 1ffileyiro MA. Chalila, B. Shmpfel, M. Petry, D. C} MeetiM was Called to oalec M 5:09 P.m 1. hate of Flnamial SFatmmnta mtl mwmg R. letter for Ff93 With City P itox Gerald '19nily P ffi wxll, Dni 30, 6 Aesociatea tevdaai the mmugment. letter for the petird mdixy Jme 30, 1993. First iron revised ie nmtsrJei weakness ori arvremetl the the lack of raeipts and ottiex souxm clroifia for T}m 1992 Wemesa Pacing Savor: ml State Pass. It was clarified trot these st axe nn thio rep= 93 fi they occurred after July 1, 1992, a 1 i3 tte bast i of o 1993 fiscal tear. The pxWlao wee cuxFd for the 1993 Maness Racimg 6eason and State Pair. nuii.tor xsaieasl otter repoxY.aDle oonlitims. ( illorsiOCColn ab Pal lu� in whethm mvmg�t's reaPams were verifiod hafore being xePnut; and wiatlire the mxiltox wee satlsfial with u o is xespommes. Auditor xmprdai tl it 58 nmment m9's to cIntent w cure all def Willes aM [lot t it plow correctiere [etre tine. S4mae stere will be tare first its checlmi Ariru3 itis reit audit. Luring mute ed of se fun& mi lime, W. � mu� ctietMs O[ "allaarces for to de[nmire heir aEFSRriateurss't P diO= Sas. nok _-- advisal tlut City Ave 120a� ed� ,for POestablishing �l f iosollectiblex varus of DaNrnptoies. 3fiat City xmxe hmvlly tliacomts its receivables ftmn private sectmr do®. Drimg mvi.eP, of ¢anTa. Crmtxacts, Single Audit Pct, G. ]hltlacri .en�,.wn hsa Fin r DelaxG®rc would lagide a correct cmgA a..n officer —wee a mklittmai pcaftim �2 Quarraram respn ttat d w: eo Of the capital pJj clerk em icing xeorg d to Pmviffi for greet files. orbs mat of the Capitan Projeotm Clerk is ctorw to [tie Pm]eota. With tie update of [ire ivtlitech cost � pian, grmta will be asseasa] approved leMtmr:t mets. T .F questions the sciool's aeponee t t t $90,000 deficit v a result of tinmg diffemnx7 Esther, W t steps can the City tale to cum aldol depaxamt deficimcies7 4uartarsm adv i that he yet a1 sciml tusfnees mawg¢ and suggested City mulitoe meet wlth the &;hool Cmmfttea, also t t a t coal inf,� is befog ircb within tlo fin n l cacaaiLlg school depatTsont Dalamas. Esther, the: City Council can wlthlnld Wdget £sods but has mother poo other ttun persuasion. D. Sexycreat i that a Joint mcetU betluesn ttc 9chw1 C ttea an City Ceusil would be a good. FNrmtt will smlc verification flan t 6eLoo1 Dep� for cutbg de£icieaies. Auditor highlighted ftms frw the P tial Stet®ents. Page 17, Note 4 interAUW xs. lvablw aM payables: m page 44. City N ii facility owes r � al F\uid $299,704 ml Dass park cea general Fool $836,647. A of J 30, 1993 the City has $500,000 of twat balanw mservs to offset possible roeRayvont by Uose two funs. FNrmit noted that the currait budget imceased that asamt to $600,000. Also, City policy cwwznfeg interbmd bo=awi s is fuf1y cparstir ml an wterp� fun wtsidies wiii be ircmasgl to bring Arm the ®omits the Gareral Exxi Page 32, Note 20 l4aim Stats Ne[Sr9hTt Sy bm an page 59 Pim Year ftwt ical Tr . AidiTnx xevi ed tM scant of unfmtled Pmmia. haofit obligation $41.9 million, although if allow the msUo[ value of assets at $60.8 million, the unfuntl i cbllg tion waild he $29.7 million. Harsh an Quartarsso revisal efforts City hm made to be remnsi £row I4a1m State Petiranat Sys , ml although bill owes defeats in ¢ ittee, City will atteupt again in the re Legislative Session. e $76204Dift ao�meexvs Eatl Balarre has grown to $1,797,207 year,; ap. Target balanra Is $2.4 million to $4.8 million. ealmce is Just soder 49 (3.759). H. Dtlon owed to xemmmtl accgx of auditor's report for M993 to the City C il. Sachs by G. Daldacci. Pries. 2. Camcil Dala< m � cepftal p J� for Amessb J pr (9,Mnrnm presented itma to tray $20,600 capital outlay appmisiatia� in the Psoessfrg bmigat to capital prmyan t omiw the foo i will rot be expx Tiffs fiscal lmar, an Uo capital pJj for aquisitian of nm oaputer system does not inaluds funds for Aseasing pro =. W. Cohsn queatim� wheMer other unfu tl l requests frw last tudget pxco s were rsvie l for fm ding. Berson xespm that to would sot retvmmmd thsse funs be ass for anvUnet purpme. yfret, fuse were raised once for thin cpm �J�ir life extatls Uof a avugh t esUbiislment fmtls, arl it has rot lost its sued, 1�Jat that v� esPaiallY with the res systaa which will not have an asaeaeing �. D. Saucy mnad rammenation to City �cil to apprvue Doer. Samtln by G. Oaldacci. Passed. 3. Council Arm autb..lat. g closing Motor Pool reeewes and appmprtatfine to motor Pool Peaetre yuni n.^..^�.., prmmurea Irani. stere is a Courcil Order Welch eataDliahed tha Motor Peel reserve f and w reWires that 2% of the xeplacment value of vehicles ba set asiae to the due W budget proldoam. w rte fisc have lot been uaade for ea azal ymxa dre w b,Wget probl®e. Tlvs order wools allw xevmwea in mwsa of meta N be d;oaitei N the food. w. Cohen thueatimetl wlether thaxe shoild not le a smWet tsswisiau. m+.t ... resmMai Nat a avast is a mStT foo Ne Concil ab mold be set on the !lata of a date or a threehold mourn! within the tion Barrett rotes that he tOWmmnt muttcipat a cl octl in the operation of Notes al With Ns in m h ter cost o ee anticipate stock would an internal ad ani food in which time mat of egrip�ut artl stock a woo he deiseciatei ani rawmai, mil 1. D !Soucy in iecoj of nista ovula be xeTained within the service fuel. O. Soucy 4ueatlmcd the rtara o momut of $lw which awld 90 N r y reserve smolt. 9Wrraxaro reeporxietl S1g0 N $sso thmm i per yeas. W. eahen aiovtd r®tlation N the city Council N aPy rove mmcil Older. 3emtrkxl by D. Soucy. passed. 4. BUGcrtae sale of redesied city of Be bod Yfficatza tbrmry, the 1leaaner's office. '^ laceemad item ani circulated a lee of Ne food certificates. W. e q tio.ai Nether Biaturical Society hes been contacfod about dmetiat of tie certificates. Qu&rtantro reaper M. W. Cola, mored approval of the sale of raoamd City of Bmxpr bud toes • e Society nit accaPt Ot emK He seconded byD. Soucy. Passes. S. Purclmae of Office Purnitme — Health aM welfare Cha111a prCamltai scan. Mew lar9az Nan expected xeoponee N flu clinic, revmum bore e> anticiprtim, and there are uvelgendsd foods within the b dg t. Ra t is m e lmecceijy a[4¢upriate unanticipated[ revmwea and use unnpamoi apF¢upriations for Pchasicg raw furniture at Health aod welfare. W. Cohen m.egfie.en v4ethpt furniture awls 10 exgDoMMICollY maect. Bmpplme vel Sea. n.e.+nfotc ueted Nat auppleeatal aplacPriatiau would be by Gcmcil o<tler eM require two readings. W. Colas mired recc m tiw N City Council N approve order for supplmentar appropriation of mmittcilared revames for Ir phase of furniture at Health 6 Welfare. � by G. saldxci. Pa lallegrfne Paammed item vAlch is a than yearertimion to corm Bottling M. at $1,500 per year. This is coLcidentel. to Coca-0ola's adoption of Union Street Park, ainich iB not emRln9ent upon this contract. D. Soucy moved appmval of the three year exlenmion of connmm ane COotrect ffi [M1tion Street aallffeld to Coca-Cola Bottling Co. Ssonh d by P. BlarcWtte. Passed. M- a. Tent Paring Ssxv (mgimer ng) Pelleginn presmred ra f to maxi contracts to law bidders Maine Teat aac�, Bane, for auger parbes at $7.50 per veKical foot (estimated concoct $2,700) and Bill Drilling s Blasting, HzePr for ledga pr at $2.99 par ve.r:...n foot (estimated contract $3,450). D. Soucy moved m contracts to leu bid maim Tit Borings, Bracer for auger prokma at $7.50 per vertical foot (eetiwiad contract $2r700) mW Bill Drilling c Blasting, Bagot for ledge prxlas at $2.99 per vertical foot (estimated contract $3,450). Serorced by G. aaMa-ci. Pessml. b. Set/yacmm hemi T k (public Services - Sernr Df afoo) Pellegri and Ferry prammrc reoomoeelation w maxi cmntaact for pmulmae of jet/� serer truck to low resloneive bfddar, Mexican Pipeline Supply, South Harpsaell, bid price $149,979 subject to lease Puchase firerc being arranged and approved. Pellegrino and Peat' prem,� reasons for rejecting the law bid, as con-xeepwmive, included In nano dated yacch 31, 1994 in the oon tee pecl®t. Curxmr vehicle uamnld be user for flushuq culverts and catch basins. W. Cohan moved xoo�atimn to City Coocil to mmcd contract for purclese of jet/vxamm meant truck to lap responsive bidder, rvoericmn PipmlioG Supply, South HarpsmAl, bid price $149,979 subject to lease PotImma finmming bsing aaanJod aM appxvued. Secmdxd by D. Soucy. Passed. sdjmmred 6:07 p.m.