10/17/2006 Meeting Minutes - Laserfiche WebLink

Home Browse Search

Council Minutes of 10/17/200b Finance Director Copfer: 1) She met with several members of the NOCOP board, the NOCOP exec director, and the executive director of the STC (Senior Transportation Connection), to discuss the amount of the proposed contribution match for our NOCOP communities for the 2007 grant that was submitted in the STC's name. It was agreed it appeared disproportionate with the other communities, and the Mayor is meeting with the director tomorrow to present our analysis. 2) Along with the Asst. Finance Director, she met with a banking representative from National City Public Funds to review services and fees. The department plans on adding positive pay, which is a fraud deterrent for our operating and payroll checking accounts. It also provides a file of what checks have cleared, and it can be uploaded it into our system and it clears those checks automatically, which speeds up the reconciliation process. Basically, what occurs in positive pay is that a file of each check run is provided to the bank. As each check is presented for payment at the bank, they match the person or company that the check is made out to and the amount to the file so that, if someone has attempted to change the name or amount, check payment can be denied. The city will avoid having to be responsible for a fraudulent check. This is necessary in the banking industry because by the time checks are returned and entered if there is a problem, it is too late. Because of the new Check 21 program, the days are limited to 15-that would be impossible if we don't even get them until 15 days after the end of the month. She believes this can be done in a relatively budget neutral manner by adjusting some other services so as to not increase banking fees. 2) She is working with the Fire division and FEMA to complete the FEMA grant and properly close the grant. With Asst. Fire Chief Ed Robertson's absence, she is the other person listed as a fiscal agent on the grant. It was all reported on line, and we do not have those passwords; but she has applied for new passwords which should be received by the end of the week. 4) She and her staff have compiled and electronically sent the information requested for the rate and operational study of the WWTP and system. Even though the information was requested from Cleveland Division of Water, it should be no surprise that they haven't been able to provide it yet. But they are working on it. Tomorrow the kick-off meeting with the consultants will be held to start the rate and operational study. 5) As mentioned in the Finance Committee meeting last week, she followed up with the Fairview finance director who admitted she had not seen the invoice of May 25, 2006 for the sewer charges and debt charges, and the invoice had not been paid. The invoice was faxed, and the city has received a check for the portions due through the third quarter. The amount was $322,903.85, which represents both operational and capital for joint costs per the agreement. 6) Recently, Mr. Ryan asked for information regarding outstanding debt for 2006 and how it compared to prior years. Although this information is available in the annual financial statements, she agreed to provide it in a comparative spreadsheet format, which she distributed in caucus this evening. Information from 1996 through 2006 is included. Compared to 2001 excluding the voted issues (library and fire voted debt), the debt decreased from $62,623,001 to $50,235,908. 5