HomeMy WebLinkAbout06-28-2010 Regular Meeting•
Public Meeting Notice
Committee: Fairhope Financial Advisory Committee
Date & Time: Monday, June 28, 2010 at 4:45 p.m.
Place: Delchamps Room
161 North Section Street
Subject: See Posted Agenda
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City of Fairhope Financial Advisory Committee
Agenda -Monday, June 28, 2010
4:45 p.m. in the Delchamps Room
City Hall-161 N. Section St., Fairhope, AL
1. Approval of Minutes for May 24, 2010
2. Status of RFP for health insurance bid
3. Review of cost reduction projects , as follow-up from May 17 City Council
Workshop
4. Stan Grubin -Report on FY2011 Budget and Capital Planning processes
5. Discussion of cash requirements for Utility Funds during the summer months
Schedule Of Future Meetings
(Note: Regular meetings are on the 4th Monday of each month at 4:45 p.m. in the
Delchamps Room at City Hall, 161 N. Section St., Fairhope, AL.)
• Next regular meeting: Monday, July 26, 2010
STATE OF ALABAMA
COUNTY OF BALDWIN
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The Financial Advisory Committee met at 4:45 p.m.,
City Hall, Delchamps Room, 161 North Section Street,
Fairhope, Alabama 36532 , on Monday, 28 June 2010.
Present were:
Chuck Zunk, Chairman
Members: Stan Grubin, Mac McCawley, Marvin Wilder, John Brown, and Mayor Kant.
Ex-Officio Members: Debbie Quinn, Dan Stankoski, Lonnie Mixon, and Rick Kingrea .
Dick Kwapil and Mike Ford were absent.
Chuck Zunk called the meeting to order at 4 :47 p.m. He announced that the first item
is to approve the minutes from the May 24, 2010 Financial Advisory Committee meeting.
Marvin Wilder moved to approve the minutes from the May 24, 2010 Fairhope Financial
Advisory Committee meeting . Seconded by Mac McCawley, motion passed
unanimously by voice vote.
The next item on the agenda was the status of RFP for health insurance bid. City
Treasurer Nancy Wilson gave a brief update and stated that the RFP was sent out and we
received four responses. The final presentation will be ready by the next meeting.
City Administrator Gregg Mims briefly gave a review on the cost reduction projects:
the City cell phone plan was changed, a resolution on allowing RDS to being our Sales
and Use Tax collections, a printer savings project to be put in place, hire a debt collection
company for outstanding accounts and court fees, and an RFP for grass cutting, custodial ,
and fleet maintenance to be prepared. Mr. Mims also addressed the Fairhope Municipal
Stadium upgrade and two resolutions will be presented to the City Council for approval:
one for declaring the needed upgrades as an emergency due to safety issues and the
second one to authorize Mayor Kant to execute an agreement with Volkert, Inc . for the
upgrades and work with Dan Ames on the bid process .
The Report on FY2001 Budget and Capital Planning processes was the next item to
be presented. Stan Grubin stated that the Department Heads were breaking down these
items to priorities. He mentioned the budget templates from Rose Fogarty were passed
out early and Department Heads are processing.
Financial Advisory Committee
Monday, 26 June 2010
Page-2-
The next item discussed was the discussion of cash requirements for Utility Fund
during the summer months. Nancy Wilson stated that receipts come in 45 to 60 days
after the bills have gone out to customers. Our usage increases, we draw down of cash
before receipts come in . Ms. Wilson stated she anticipates a line of credit will be needed
which is the correct way to go and we need an RFP for the $2 .0 million line of credit for
the Utility Fund. Mr. Zunk said the City Council will need to vote on a motion to
authorize the City Treasurer to go out on an RFP for a $2.0 million line of credit for the
Utility Fund. Ms . Wilson passed out the debt covenants to the Councilmembers.
Lonnie Mixon mentioned the need for the Sales & Use Taxes General Fund limit of 50%
was starting in 2011 . Maximum is $2,000,000 and will not be enough to offset the 50%.
This year should be 65% which is still less that the 75% to 80% at present. We need the
figure for our budgeting process.
Stan Grubin moved to adjourn the meeting. Seconded by Mac McCawley, motion
passed unanimously by voice vote.
There being no further business to come before the Financial Advisory Committee,
the meeting was duly adjourned at 5:15 p.m.
Chuck Zunk, Chairman