01-23-06 Regular Meeting of Fiscal Affairs Committee Minutes

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MINUTES OF THE LA PORTE FISCAL AFFAIRS COMMITTEE January 23, 2006 1. Call to Order The meeting was called to order by Councilman Chuck Engelken at 5:00 p.m. Members of Committee Present: Councilmembers Barry Beasley, Tommy Moser and Chuck Engelken. Members of Committee Absent: Councilmember Howard Ebow and Councilmember Louis Rigby. Members of City Executive Staff and City Employees Present: City Manager Debra Feazelle, Assistant Finance Director Michael Dolby, City Secretary Martha Gillett, Secretary Shannon Green, Assistant City Secretary Sharon Harris, Assistant City Manager Cynthia Alexander, Planning Director Wayne Sabo and Assistant City Manager John Joerns. Other citizens: Mr. Pederson of Null Lairson, Jim Counts of Habitat for Humanity. 2. Consider approval of Minutes of Regular Meeting of La Porte Fiscal Affairs Committee Minutes held on October 24, 2005. Motion was made by Committee Member Beasley to approve the minutes as presented. A second by Committee Member Moser. The motion carried. Ayes: Beasley and Moser Nays: None Abstain: Engelken 3. Assistant City Manager Cynthia Alexander presented the Reading File on Regional Issues. She advised the committee to call if they had any questions. It was suggested the information be provided to Mayor and Council as well. Staff noted the information would be forwarded to Mayor and Council. 4. Assistant Finance Director Michael Dolby provided the fourth quarter (FY 2005) Investment Report. He noted the overall portfolio performance has been good. 5. Assistant Finance Director Michael Dolby introduced Mr. Pederson of Null/Lairson who provided the 2005 Audit Report. Mr. Pederson made the following statements as required by law: The City was issued an unqualified audit opinion. This is the highest rating a City may receive. Mr. Pederson provided an overview of a power point presentation. A copy of the presentation is attached to these minutes.