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HomeMy WebLinkAbout1992-06-01 Finance Committee MinutesPLmICe , 92a PE Jure 1, 1992 MimRcs Camuttee lad�em Present: Mmi. S. D[egg, J. S , G. lialdaxi, R. Store CounC l Nafd)eta Present: D. Scy, W. COhm, Staff Pteasnt: E. $]List[, R. Pa o J. Q�exT lam, E. Stm gp , D. Pellegr , L. Ih�beHs¢y J. YCNeil Othsis Aeeent: M. 4lellmen of vArbating, Media E Wellsan Mjuesert ve ftaa H cutel eatfn9 wes callsi to and by Cha;. at 5:05 �. 1. 'Ris Eus - Adve i g PLnposal Paxiaz aM aictaeil Pwsmwd pxtposal frmn Me Ling, Yalu 6 tmllven to develop advertising 00 1be lam. Lcluded in diacussi0n was letter ftm Tle Alstw, G[eatet PortlaM SYans£t District. Diacvesiort o nwisl on estimated start up cosw of $3,500, estimated animal ievema;3 of $15,000, cost stmriig wiN parttciPvting local ommuLLties, ab cost sb=r with stew and Pederel suwidy. Diecnaeitml reit focused on Tlm pwpceai piesentad by Media, Matlo;ting R Walbren. mt� raised c� rn about a l ck of an advertis pian p = to cont with advertisvg cvopvy, aM was aivis i that Plan wind W deve]<gal after comsat x let, aM ttat Gwncit w d be Snfon®tl prior w adoption Of mm alvei iw plan. Strad xwid pxwide advertisi:g fico wiw 358 of rn Iwes gemxaied Agteaom¢ w irclude ee� C05w in tyle M993 bmlget and pta^,mrc to Cammil for aPp=Oval of oont w tl t develog� Of advmtising Plan would begin. 2. Discussion: IeRer-Furl eal.arses Policy ^� Flew policy with mweatal Levieion f Xs ca n ttee meetim. G. Daldeoci may mmnvtled passage w City M U. Sassided by J. Sail. Passed. 3. Diacuesion: City I,mea4rent PtOgrmm lent still WiShaS to follow thrcegh to transfer of furs to Gam fm coapar son of inwmoevent results. Cohen objected since Fleet berm now respoMetl than no finds slmuld be movmf W eaOtlbr institution all MMested no change be wade until m Rep for banking services was let. 9aroart respvdsi cor cernuiy available resaacae for Producing an M. Stucy agreed to allow spilt imestverts arci RFP as time ard resources allow. Raldacci agcetii with Sauy. olPoses split investee ifs elth Casco now that city has Fleet's attention. Store agrbea to allow split imestrent program with Gem. Razxett iricated M for bankhV services witldn 60 days. Disc aim of city treat acccunta being sot d to Geo fax mVoapad servicing. City maintains 35 trust furs with pooled im�t nts. Calm Will provide m.w,..ountI g oohed. of principal and interest allocation of the 35 trusts, ami dialmrsEamt services which Hest does not provide. J. Sail W Comrcll th authorize opening banking relatimahtP with Caere R e staff tr+ produce RFP for banking services within 60 days ami ♦'_'M, C®nwity �lepmR Pct into RFP for banking services. Sgvrcisd by G. Raldaoci. passed 3:0n1 with Stagg abstaining. 4. Policyn Small pareual. Property eelanms Q arta ave presented policy for writingb£f eaell talarre of $5.00 or less m to Pali Personal PmPertY tamer per legislation approved in 1991. Discussion cartered on appropriate Boner evamt. R. Stens mmd mtamvtlatim to Council Smotled by J. Seri. Raldaoci aw i to ameni policy to $25.00 and that slim ffa would rot ba autmustic. Secmvkd by R. Store. B®dmart pawed. Marin ration awed. S. Review Of Iaese option for City Cabgmtec Faaaaz press a to d rwlsed lease amounts from url a fox tlum }car lasso COSIS with Unisys is the the e e liar m } r ].ease. So¢Y 4ueattwed umintenaree if U�squipmnt Carer. 1b be xevicvstl with verrbr. thin parry W ys availability. em be recdecof by staf£. Colmn questional year ty over iesaiuy at poaror roars of ie (estimated) w allow flexibility of charging equitae ere wig teat of ea W year � g trnth Staff ew daiamire actual rest of year pri application of lease renceell option,' x for less than erre year, arc] paytmrt m purchase ]sire. Iter to be refaaai to rent Budget revfmw session, Jure 3, 1992 and if appropriate to next Council meeting. 6. lffigeaet to Dissolve Aged Women 9inst find SdnR£ei preaaded rNeeat frau Phtllillsv,tricklad Ranee through Arty. pfaoford to oieaolve trust relatieaehdP with city, ant to re[unn $25,000 Prircipal Plea earned irner St. Stu Pfel bas reqs es epi confirmatim Uat Phi11iP%Stricklatl is siccessor tr FtMa for Aged Women, and cwdisation Of corporate action to dissolve trust relationship with city. R. Stane moved recmneMation to CrunaLl to dissolve trust relationship for some for Aged Women Trust subject to satisfactory receipt of cmdimatirnFs xttPestel by City Solicitor Seconded by T. S . Rased 7. Ride: a. Ehulsifie l Asphalt and ai4mUeus Concrete Pellegrino presentsi bid tabulation ami recoae,:tlar:,.., for award. R. Scare moved award of emilsifiai aspbait to arch Material coon aw, arca hirneireus Concrete to Ione Conetru-tion Cly. SeCO vlai by G. F4ldacei.. Passed. b. loan Pellegrino prase txl bid Tabulation and renmendatimi for acrd. R. Stour nreved award to Rrget R. Johnson. Seceetled by S. Sail. Passed. C. Rvreval ant replacement of interior 110tirg Pellegrino also presented leder fron lry CiS regae,trag reconsideration of their bid due to lack price quotation for vuonq date whirb a feetai their bid price. collars..- Ions do not allow him to male a post � change mthe Da, tut that W it could take m:rerruti g,.v..� into consideration. R. Store :mvad award of bid to C. N. ffioxa and Sprague ffigy par purchesin9 agent's recanastlatfona ao(i bid tabilatfons. Beetled by G. Naltlacci. Passed 3:0:1, J. Sail abstained. G. Hsldsci sovai a aN (n Stnre Contaysa• �vopany. SxoM yy J. Sa#. Pasa31 f. 4 lephore Sys Peiiegtire xago® � Camtttea meeting on Sure 29, 1992 for final M2 arards prim to close of fiscal }aat. Comities ago . 0. 6xa Ve Session J. earl owed to go info smi:tive Session to discuss worl agxeere forfax accauRs aM se ee asseesveM rca�nis. S tle3 by A. Store. Paese3 3:0 (Palda¢i dopa ). w f>m eo_cutive S si.cn at 6:45 pn. Got of Porecutive 5 ion at 6:57 M. M tiN ad]oume"i at 6:57 p .