HomeMy WebLinkAbout06-13-11 Fiscal Affairs Committee MeetingCHUCK ENGELKEN, CHAIR
Councilmember District 2
DARYL LEONARD
Councilmember District 3
TOMMY MOSER
Councilmember District 4
JAY MARTIN
Councilmember District 5
JOHN ZEMANEK
Councilmember At -Large A
CITY OF LA PORTE FISCAL AFFAIRS COMMITTEE
MEETING AGENDA
Notice is hereby given of a meeting of the City of La Porte Fiscal Affairs Committee to be held on Monday,
June 13, 2011, at 5:00 p.m., in the La Porte City Hall Council Chambers, 604 West Fairmont Parkway,
La Porte, Texas, regarding the items of business according to the agenda listed below:
1. Call to Order
2. Consider approval of minutes of the May 9, 2011, meeting of the Fiscal Affairs Committee —
P. Fogarty
3. Discuss and review the process of securing an independent auditor for the City of La Porte,
including a proposed timetable — M. Dolby
4. Consider approval or other action of a proposed list of firms to receive the City's RFP
(request for proposal) for independent auditor services — M. Dolby
5. Administrative Reports — R. Bottoms
6. Committee Comments — Matters appearing on agenda; Recognition of community members, City
employees, and upcoming events; Inquiry of staff regarding specific factual information or existing
policy.
7. Adjourn
In compliance with the Americans with Disabilities Act, the City of La Porte will provide for
reasonable accommodations for persons attending public meetings. To better serve attendees,
requests should be received 24 hours prior to the meetings. Please contact Patrice Fogarty, City
Secretary, at 281.470.5019.
CERTIFICATION
I certify that a copy of the June 13, 2011, agenda of items to be considered by the Fiscal Affairs Committee was
posted on the City Hall bulletin board on June 10, 2011, at 3:00 p.m.
Patrice Fogarty, City Secretary
I certify that the attached notice and agenda of items was removed by me from the City Hall bulletin board on the
day of 1 2011.
Name and Title
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June 13, 2011, Fiscal Affairs Committee Agenda
CHUCK ENGELKEN, CHAIR
Councilmember District 2
DARYL LEONARD
Councilmember District 3
TOMMY MOSER
Councilmember District 4
JAY MARTIN
Councilmember District 5
JOHN ZEMANEK
Councilmember At -Large A
MINUTES OF REGULAR MEETING OF FISCAL AFFAIRS COMMITTEE
MAY 9, 2011
The Fiscal Affairs Committee met in regular meeting on May 9, 2011, at 5:00 p.m. La Porte City Hall
Council Chambers, 604 West Fairmont Parkway, La Porte, Texas, to consider the following items of
business:
1. Call to Order
Chairman Chuck Engelken called the meeting to order at 5:03 p.m. Committee Members present
were Councilmember District 3 — Daryl Leonard, Councilmember District 4 — Tommy Moser,
Councilmember District 5 — Jay Martin, and Councilmember At -Large A — John Zemanek.
2. Consider approval of minutes of the Regular Meeting held on March 28, 2011, of Fiscal
Affairs Committee — P. Fogarty
Committee Member Zemanek moved to approve the minutes of the Regular Meeting held on
March 28, 2011, of the Fiscal Affairs Committee as presented. Committee Member Leonard
seconded. MOTION PASSED.
Ayes: Chairman Engelken,
Martin and Zemanek
Nays: None
Committee Members Moser, Leonard,
3. Receive and review Second Quarter (FY 2011) Investment Report — M. Dolby
Finance Department Treasurer Shelley Wolny presented the Second Quarter FY2011 Investment
Report.
4. Receive and review months of November and December (FY 2010) and January and
February (FY 2011) Purchasing Card Expenditures — M. Dolby
Finance Director Michael Dolby presented the purchasing card expenditures for the months of
November and December of 2010 and January and February of 2011.
Chairman Engelken remarked that he likes the breakdown of the vendors in the report.
Chairman Engelken indicated he would like to see staff follow up on any Committee questions and
provide answers to the entire Fiscal Affairs Committee.
The Committee finds this report informative, and they would like to continue receiving it for their
review.
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May 9, 2011, Fiscal Affairs Committee Minutes
5. Review and discuss proposed changes to the Investment Policy of the City of La Porte — S.
Wolny
Finance Department Treasurer Shelley Wolny presented a summary of the proposed changes to
the Investment Policy and stated they will present the proposed changes to City Council at the
May 23, 2011, Council Meeting.
The four proposed changes which were discussed are as follows: 1) Address requirements or
acceptance, substitution and release of collateral; 2) Reference of independent third -party
safekeeping for investment securities; 3) Outline reporting requirements for the quarterly investment
securities; and 4) Guaranteed Investments (GIC's) as an authorized investment.
6. Consider approval or other action regarding March 2011 mileage reimbursement for Mayor
Rigby — Chairman Engelken
Committee member Leonard moved to approve the March and April 2011 mileage reimbursement
for Mayor Rigby as presented. Committee member Zemanek seconded. MOTION PASSED.
Ayes: Chairman Engelken, Committee Members Moser, Leonard,
Martin and Zemanek
Nays: None
7. Administrative Reports — R. Bottoms
City Manager Ron Bottoms said it is timely to put out an RFP for independent auditors, and that the
Fiscal Affairs Committee should begin the interviewing process as soon as possible.
8. Committee Comments
Matters appearing on agenda; Recognition of community members, city employees, and upcoming
events; Inquiry of staff regarding specific factual information or existing policy.
There were no Committee comments.
9. Adjourn
There being no further business, Committee Member Leonard moved to adjourn the meeting.
Seconded by Committee Member Moser.
The meeting was adjourned at 5:28 p.m.
Respectfully submitted,
Patrice Fogarty, City Secretary
Passed and approved on the 13 day of June, 2011.
Chairman Chuck Engelken
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May 9, 2011, Fiscal Affairs Committee Minutes
BIDDERS LIST
Sealed RFP #11509 - Professional Auditing Services