05-29-07 Special Called Regular Meeting of Fiscal Affairs Committee

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MINUTES OF THE SPECIAL CALLED REGULAR MEETING OF LA PORTE FISCAL AFFAIRS COMMITTEE May 29,2007 1. Call to Order The meeting was called to order by Chairman Chuck Engelken at 6:00 p.m. Members of Committee Present: Councilmembers Howard Ebow, Louis Rigby and Chuck Engelken. Members of Committee Absent: Councilmembers Barry Beasley and Tommy Moser Members of City Council. City Executive Staff/Controller and City Employees Present: Interim Director of Finance Michael Dolby, Controller Phyllis Rinehart, Assistant City Secretary Sharon Harris and Interim City Manager John Joerns. Other citizens: Ed Fendell Construction Supervisor for Habitat for Humanity. 2. Consider approval of Minutes of Regular Meeting of La Porte Fiscal Affairs Committee Minutes held on February 26,2007. Motion was made by Committee Member Rigby to approve the minutes as presented. A second by Committee Member Ebow. The motion carried. Ayes: Engelken, Ebow and Rigby. Nays: None Abstain: None Absent: Beasley and Moser 3. Interim Director of Finance Michael Dolby discussed the Audit RFP Calendar and the timeline of dates. Mr. Dolby informed the committee there were seven auditing firms for selection and invited committee members to participate in the interviewing process of the firms. Mr. Dolby will provide the committee the date in August the interviews will be conducted. 4. Interim Director of Finance Michael Dolby presented the second quarter credit card expenditure report. Committee Member Rigby inquired if the agreement with the City ConsultanUAdvisor addresses the use of a city issued credit card. Interim City Manager John Joerns confirmed the credit card was used for duties as City Manager during the second quarter. 5. Controller Phyllis Rinehart presented quarterly investment reports and provided an overview.