HomeMy WebLinkAbout03/24/2009 04B Minutes 03-10-2009 Council Budget Committee �� � -� -, �' W '� `� ar/��gy�[�"��¢��(( 5..:� , p p v'" �°� a ' � '',�"� "$ gym • � yr ./�� � �.g
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C®unc Crud et Comingtee
c!E Co nfet nce Wpm (for)
Tuesday, March 10, 2009
3:30 — 5:00 p.m.
Meeting Minutes
Attendance: Council Members: Micah Cawley, Kathy Coffey, Neil McClure
Staff: Dick Zais, Rita DeBord, Randy Beehler, Cindy Epperson, Tim
Jensen, Robin Dukart .
Discussion:
• City's Investment Policy: Tim Jensen discussed the proposed changes to
• the City's Investment Policy and related updates to the Municipal Code.
Committee authorized submittal to full Council.
> Bond Counsel: Dick Zais provided an update on the City's Bond Counsel.
Mr. Zais stated the City has received excellent service from K L Gates for
over 40 years; however there have been some recent changes within this
firm and their competitor's firms: he is therefore recommending the City
prepare a Request For Qualifications (RFQ) for these services to i update
the City on qualifications of the various providers.
• Budget Document Format: Committee reviewed the layout of the
"workbook" designed to assist in assigning the Priorities of Government
to service units within City departments. The Council considered this to
be a valuable tool in assessing possible budget. efficiencies. Micah Cawley
suggested the Committee establish work sessions to alternate with the
CBC meetings. (no action taken)
• Budget Methodology: There was considerable discussion over the
presentation of the annual general government budgets. Micah Cawley
and Kathy Coffey would like to see the general government budget
presented without reliance on reserves, in order to narrow the gap
between revenues and expenditures. Councilman McClure stated that he
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supported the existing budget process as it also produces ;a balanced 11110
budget. Staff explained that budgets are balanced between revenue and
expenditures and that their use of the term "reliance on reserves" should
be changed. The term "Reserve Contingency" would be more accurate, as
the City rarely utilizes the City's reserves to cover expenditures in the
City's annual budget. (no action taken)
Next Meeting: TBD
CED Conference Room (City Hall, 2nd floor)
Committee Chair (Micah 11 , ley)
411
•
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Rd CBC Minutes 3 -10 -09