10-27-08 Regular Meeting of the Fiscal Affairs Committee

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MINUTES OF THE REGULAR MEETING OF LA PORTE FISCAL AFFAIRS COMMITTEE October 27, 2008 1. Call to Order The meeting was called to order by Chairman Chuck Engelken at 5:00 p.m. Members of Committee Present: Councilmembers, Chuck Engelken Howard Ebow and Louis Rigby Members of Committee Absent: None Members of City Council. City Executive Staff and City Employees Present: City Manager Ron Bottoms, Assistant City Manager John Joerns, Director of Finance Michael Dolby, Controller Phyllis Rinehart, and City Secretary Martha Gillett Others present: Phillip Hoot. 2. Consider approval of Minutes of Special Called Regular Meetings of Fiscal Affairs Committee held July 28, 2008. Motion was made by Committee Member Ebow to approve the minutes as presented. A second by Committee Member Rigby. The motion carried unanimously. 3. Finance Director Michael Dolby reported there were no credit card charges to report for the Fourth Quarter (FY2008). Mr. Dolby requested the Committee consider this item be removed from future agendas since the City Secretary had the only credit card left in use. The only time it is used is for Council travel. The Committee directed Mr. Dolby to only bring the report back if any problems were found. 4. Finance Director Michael advised Ms. Rinehart would present the Fourth Quarter (FY 2008) Investment Report. Controller Phyllis Rinehart provided the Committee with an overview and answered the Committee's questions. Committee Member Rigby requested a comparison to 2007 data. 5. Finance Director Michael Dolby presented the Fourth Quarter (FY 2008) Purchasing Card Expenditure and answered Committee's questions. The Committee had no questions on the report and indicated they would like to continue to see the report in the future.