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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