HomeMy WebLinkAbout1984-05-09 Finance Committee MinutesFinance Committee
May 9, 1984 at 4:00 p.m.
Minutes
Present Councilor Jim Cox, Chairman
Councilor Arthur Tilley
Councilor Ken Jordan
Councilor Tom Davis
John Flynn, City Manager
Ted Jellison, Finance Director
Dave Pellegrino, Purchasing Agent
Pete D'Errico, Airport Manager.
Sally Thompson, Community Development
1. Consultant - Airport Improvements.
The Committee unanimously recommended the staff's suggestion that
Hoyle, Tanner & Associates continue work on the ramp draining
problem since they had already started the project under arevious
contract and to engineer the installation of the runway surface
sensors as they are currently doing the runway lighting system.
The Ramp drains total $900,000 and the sensors $100,000. -
The Committee further unanimously recommended Edwards and Kelsey
to replace and insulate the term:inal roof ($280,00), airport
directional signs ($50,000)general aviation security lights
($50,000) and blast fesne (540,000).
2. Contract - Airport Centerline Lighting.
The Committee approved to award the contract for the installation
of touchdown zone and centerline lights to Brescia Construction
Corporation 1n Caribou, the low bidder, at $870,192.00. The bid
recommendation has been reviewed and approved by Hoyle, Tanner,
.Associates, Inc. and the Federal Aviation Administration.
3. Community Development.
The Committee approved one loan, and asked Sally .Thompson to
return to their next meeting regarding disposition£ city -owned
property on Parker Street.
4. Bids:
a. Breathins F vi men t. Award was approved to American Fire
Equipmen' t, Inc. fon the Scott Breathing Equipment at
$3,685.00.
b. Estimated Award was approved
too rrvingUTGTo.; theTaw 6v er, at 527 per gallon for
regular and $.935 per gallon for unleaded gasoline.
5. Financing Computer System Upgrade.
The administration bad drafted a council order authorizing the
transfer of $200,000 from. the Reserve for Bus Equipment for
financing the upgrading of the computer system. The Committee.
did not approve the transfer but asked that the $200,000 to
cover the cost of the computer remainin the 1985 proposed
budget, and the Committee will make a decision on the use of
the money in the Reserve Account at. a future meeting.
6. Establishing Golf Course Reserve Account.
The Committee voted 2-1 to establish a reserve account for the
golf course using profits generated from the operation with a
limit of $100,000 set for the fund. A Council Order will be on
the upcoming .agenda.
7_._ Debt Service Payment.
C
The Finance Director received a new payment schedule indicating
that the City will not be required to make a $180,000 principal
payment an the new $1.8 millionbond issue during the 1985 fiscal
year but-will'be making twointerest payments between June 1,
1984 and June 30, 1985. The City .Manager indicated to the Committee
that a decision had to be made as to whether the taxpayers are
given aone-time break on the tax rate or if the money should be
used to reduce future debt payments.
The Committee voted to keep the $180,000 in the budget but to
classify it under a different category explaining the amount.
Councilor Jordan also.suggested a memo go along with the budget
to explain the change.
Committee adjourned at 5:11 p.m.
MOM