Budget & Finance Nov 20th Meeting

Budget & Finance Committee

Budget and Finance Committee
November 20, 2013
Minutes


1. Meeting was called to order by Chair at 7:00 p.m. 

2. Committee Attendees: Ty Kehrer (Chair), Wes Elliott (Vice-Chair), Dale Urbanek,  Nimish Sanghavi and Ken Walsh.

Non-Committee Attendees: Wendy Taylor (General Manager), Scott Fisher (SRP Treasurer) and Dina Relan Johnson (Armstrong Management), George Ellis (SFMC) and Jennifer Edwards (SFMC).

3. Public Comment / Issues:  None

4. No one electronically recorded the meeting.

5. The Committee reviewed the minutes from the October 23, 2013 meeting.

a. Dale Urbanek made the motion that, “The Budget and Finance Committee accept the October 23, 2013 minutes as presented.”  The motion was seconded by Nimish Sanghavi. 
 

b. The motion passed with Wes Elliott abstaining.

6. The Committee reviewed the financial statements for October 31, 2013.

a. Wes Elliott made the motion that, “The Budget and Finance Committee accept the October 31, 2013 Financial Statements as presented”.  The motion was seconded by Dale Urbanek.

b. The motion passed “Unanimously”.

7. Investments - The Committee reviewed the investments and no purchase recommendations were made at this time.  Any CD’s that mature prior to the next meeting are to be rolled into the Smith Barney Money Market accounts for their particular fund.

8. The Budget and Finance Committee reviewed the following proposals:

a. The Budget and Finance Committee reviewed the proposals for 31 new Zelkova trees along Donovan Street.  Wes Elliott  made the motion that, “The Budget and Finance Committee recommends the use of Clippers, Inc. for a cost of up to $10,000 to replace the 31 trees along Donovan Street.”  The motion was seconded by Ken Walsh.  The motion passed unanimously.

b. The Budget and Finance Committee reviewed the proposals for lights to be installed at SRC Center Stage.  Nimish Sanghavi made the motion that, “The Budget and Finance Committee recommends the use of Mclean Electric to install four light poles at SRC Center Stage at a cost of up to $10,000.”  The motion was seconded by Dale Urbanek.  The motion passed unanimously.

9. There was a brief introduction and discussion by Service First Management & Consulting (SFMC) about the transition at year-end to their management company.

10. The meeting was adjourned at 8:22 p.m.

11. The next meeting of the Budget and Finance Committee is Wednesday, December 18, 2013 at 7:00 p.m. at Town Hall.