11/03/2004 Meeting Minutes - Laserfiche WebLink

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Council Minutes of 11/3/2004 13) November 2, made a written request of the Finance Director to review expenditures ~~;. relating to a certain contract at the Recreation Center to insure that the payments to this particular vendor were properly made. 14) November 3, attended Board of Control and directors' meetings at City Hall. Finance Director Copfer: 1) The Finance Dept. has been busy developing the chart of accounts for the new financial accounting system. The first draft is about 95% complete, and it will be used for testing and training purposes in the next couple of weeks. 2) The MUMS server was delivered last week and, because of a cancellation by another MUMS client, a system technician was able to come in this week rather than the first week of December to install the software applications and hook up our users so that we may begin training on MUMS next week. 3) Thanks to Council's generosity and to Director Farver's Information Systems Dept. and Director Driscoll's Service Dept. who were able to set up the MUMS training room in Council's back caucus room. This space will take us through Phase I and Phase II training, and we are hopeful in finding a permanent home for this training and for other training purposes on computer systems as this was an important interest during our bargaining with ClericaUTechnical union. 4) As an advisor to the health care committee, she met with the committee on Monday morning for four hours. Discussed were plan design and cost relationship and health savings accounts, which is something new this year in the marketplace. Federal laws have been changed to allow for this, and it is being looked at as an option. 5) Ordinance 2004-176 is a note borrowing for a portion of the fire station bond levy that was passed at yesterday's election. Doing the borrowing this year makes sense financially because, as a small issuer of less than $5 million of new capital money in a year, we are then not subject to IRS rebate and arbitrage rulings and requirements. We can also invest these monies, and the interest earnings are required to go toward the project. To enter into the agreements for land acquisition or architect and engineering services, these monies must be in the process of collection. It is important that we have them available as soon as possible so that we can sign the contracts when we are ready to move forward and we have that timeline set. With three readings and a 30 day wait period as requirements for new capital money borrowings, one special Council meeting will need to be held. Councilman Gareau inquired how the certification of election would figure into this timetable. Finance Director Copfer answered she had discussed that issue with bond counsel, Mr. John Larson. She learned we do not have to wait for the certification to be issued before the legislation is passed-they can move along the same path simultaneously. We cannot borrow the money until the certification is issued. Councilman Miller inquired if Finance Director Copfer had revised the projected carryover for this year. Finance Director Copfer said she had not. Councilman McKay, chairperson of the Environmental Control Committee: 1) The committee met on Tuesday, October 26. Attending were committee members Nashar, ~"' Dailey and McKay; Council members Gareau, Kasler, Miller and Limpert; Council ;~, 4 ._