08-22-05 Regular Meeting of Fiscal Affairs Committee Minutes

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MINUTES OF THE LA PORTE FISCAL AFFAIRS COMMITTEE August 22, 2005 1. Call to Order The meeting was called to order by Chairperson Chuck Engelken at 5:00 p.m. Members of Committee Present: Chairperson Chuck Engelken, Barry Beasley and Councilmember Louis Rigby. Members of Committee Absent: Howard Ebow and Tommy Moser. Members of Cily Executive Staff and City Employees Present: City Manager Debra Feazelle, Assistant City Manager Cynthia Alexander, Assistant Finance Director Michael Dolby, City Secretary Martha Gillett, Budget Investment Officer Shelley Wolny and Assistant City Manager John Joerns. Other citizens: None 2. Consider approval of Minutes of Regular Meeting of La Porte Fiscal Affairs Committee Minutes held on April 25, 2005. Motion was made by Committee Member Beasley to approve the minutes as presented. A second by Committee Member Chuck Engelken. Committee Member Louis Rigby abstained. The motion carried. 3. Discussion Items Garbage Bag Report — Assistant City Manager Cynthia Alexander provided a report on the garbage bag inventory. She noted inventory control is problematic and losses have occurred. The problem has been reported to Chief Reff by Public Works to conduct an investigation. 4. Receive and review third quarter (FY 2005) investment report. — C. Alexander Investment Officer Shelley Wolny provided the Fiscal Affairs Committee with an overview of the report. She will clarify the time frame the report covers. 5. Assistant Finance Director Michael Dolby presented summary and recommendation regarding fraud policy. It was noted, all Board, Commissions and Committees should be included. Councilmember Rigby made a recommendation that the policy should include the changes when adopted at the Council Meeting. The City Secretary's Office will be sending out a Boards and Commissions list.