Budget & Finance Dec. 18, 2019 Meeting

Budget & Finance Committee

Meeting was called to order by Ty Kehrer at 7:00 pm at Town Hall.

1. Committee Attendees: Ty Kehrer (Chair), Ken Walsh, Frank Puleo and Dale Urbanek.

2. Non-Committee Attendees: Wendy Taylor (SRP General Manager), Angee Dill (SFMC, Kevin Ubelhart (BOD) and David Brent (Resident guest).

3. Public Comment / Issues: None

4. No one electronically recorded the meeting.  Minutes were recorded for this meeting by Ty Kehrer.

5. Review and Adopt the Minutes from the November 20, 2019 Meeting. 

a. Ken Walsh made a motion that, “The Budget and Finance Committee accepts the November minutes as presented.”  The motion was seconded by Dale Urbanek.
b. The motion passed “Unanimously”.

6. Review of Financial Statements:
a. Frank Puleo made the motion that, “The Budget and Finance Committee accepts the November financials as presented with a note that an email follow up between Angee Dill, Kevin Ubelhart and Ty Kehrer to clean up the due to/from accounts between funds.” The motion was seconded by Dale Urbanek
b. The motion passed “Unanimously”.

7. Investments:
a. The Budget and Finance Committee recommended the purchase of a new General Operating reserve CD for $240,000 for a term of 9 months at the best rate available.
b. The Budget and Finance Committee recommended the purchase of a new General Operating reserve CD for $125,000 for a term of 3 months at the best rate available.
8. Bid Review - None

9. Discussions:  Frank Puleo made the motion that “The Budget and Finance Committee recommends David Brent to be a new member to the Budget and Finance Committee as he has attended three consecutive meetings.  The motion was seconded by Dale Urbanek.  The motion passed “Unanimously”.


10. The meeting adjourned at 7:35 pm.

11. Next Budget and Finance Meeting:  Wednesday January 15, 2019 at Town Hall at 7pm.