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Home My WebLink About09-09-13 Fiscal Affairs Committee CHUCK ENGELKEN,CHAIR JAY MARTIN CouncilmemberDistrict 2 Councilmember District 5 Alternate Member 2 DARYL LEONARD Councilmember District 3 TOMMY MOSER Councilmember District 4 CITY OF LA PORTE FISCAL AFFAIRS COMMITTEE MEETING AGENDA Notice is hereby given of ameeting of the City of La Porte Fiscal Affairs Committee to be held onMonday, September 9, 2013,at 5:00p.m., in the La Porte City Hall Council Chambers, 604 West Fairmont Parkway, LaPorte, Texas, regarding the items of businessaccording to the agenda listed below: 1. Call to Order 2. Consider approval of minutes of the July 22,2013,meeting of the Fiscal Affairs Committee –P. Fogarty 3. Review and discussaproposed Resolution of the City of La Porte approving General Fund commitments of Fund Balance for Fiscal Year 2012-2013–M. Dolby 4. Set date for next meeting –M. Dolby 5. Administrative Reports –C. Alexander 6. Committeecomments regarding matters appearing on agenda –Committee members Engelken, Leonard, Moser, and Martin. 7. Adjourn In compliance with the Americans with Disabilities Act, the City of La Portewill provide for reasonable accommodations for persons attending publicmeetings. To better serve attendees, requestshould 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 September 9,2013agenda of items to be considered by the Fiscal Affairs Committeewas posted on the City Hall bulletin board on September 3, 2013. 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 ________________, 2013. __________________________________________________________________ Name and Title Page 1of 1 September 9, 2013, Fiscal Affairs Committee Agenda CHUCK ENGELKEN,CHAIR JAY MARTIN CouncilmemberDistrict 2 Councilmember District 5 Committee Member Alternate Member 1 DARYL LEONARD VACANT Councilmember District 3 Alternate Member 2 Committee Member TOMMY MOSER Councilmember District 4 Committee Member MINUTES OF MEETING OF FISCAL AFFAIRS COMMITTEE JULY 22,2013 July22, 2013, at 5:00p.m. The Fiscal Affairs Committee met on in the La Porte City Hall Council Chambers, 604 West Fairmont Parkway, La Porte, Texas, to considerthe following items of business: 1.Call to Order ChairmanChuck Engelken called the meeting to order at 5:00p.m. Committee MembersTommy Moser,DarylLeonard and Jay Martin werepresent.Also present were City Secretary Patrice Fogarty, City Manager Corby Alexander, Assistant City Manager Traci Leach, Finance Director Michael Dolby, Controller Phyllis Rinehartand Treasurer Shelley Wolny. 2.Consider approval of Minutes of the May13,2013,meeting of the Fiscal Affairs Committee– P. Fogarty Committee member Daryl Leonardmoved to approve the minutes of the May 13, 2013, meeting. MOTION PASSED. Committee member Tommy Moserseconded. Ayes:Chairman Engelken,Committee MembersMoser, Leonard and Martin Nays:None Absent:None 3.Receive and review Third Quarter (FY 2013) Investment Report –M. Dolby Treasurer Shelley Wolnypresented an overview of theThirdQuarter (FY2013) Investment Report. Committee member Martin questioned who determines the benchmark. Treasurer Shelly Wolny responded staff determines the benchmark based on the six-month Treasurybill. 4.Receive and review months of April (FY 2013) and May(FY 2013) Purchasing Card Expenditures –M. Dolby Finance Director Michael Dolbyprovided an overview of the April (FY 2013) and May(FY 2013) Purchasing Card Expenditures. Chairman Engelken commented it appear 30percentof the purchases are in the corporate limits of La Porte. Finance Director Michael Dolby informed employees are encouraged to shop La Porte. Committee member Moser questioned anexpenditureto Dixie Flags.City Manager Corby Alexander advised he will confirm the expenditure and advise the committee. Page 1of 2 July 22, 2013, Fiscal Affairs Committee Minutes 5. Receive and approve the Audit Engagement Letters for the fiscal year ending September 30, 2013 –M. Dolby Tom Pedersenwith Whitley Pennprovided an overview of the Audit Engagement Letters for the fiscal year ending September 30, 2013.Mr. Pedersen advised the committee if the expenditure of federal funds isin excess of $500,000.00, Whitley Penn will come back to the committee with modification to the engagement letters with the appropriate language in the documents. The committee directed Finance Director Michael Dolby to focus the particular audit on the Parks and Recreation Department. Chairman Engelken asked what type of auditshould be performed to assure accuratecollectionof sales taxes.Finance Director Michael Dolby informed consultants review city receipts on a monthly basis;staff receives a StarsReport with city sales taxes; every six weeks a report is received from the Comptroller’s Office with new permits; and staff reviewsthe addresses to confirm they are in the city limits. Committee member Tommy Mosermoved to approve the Audit Engagement Letters for the fiscal MOTION year ending September 30, 2013. Committee member Daryl Leonard seconded. PASSED. Ayes:Chairman Engelken, Committee Members Moser, Leonard and Martin Nays:None Absent:None 6.Set date for next meeting –M. Dolby The Committee setOctober 28, 2013,at 5:00 p.m., as the date and time for the next meeting. 7.Administrative Reports–C. Alexander City Manager Corby Alexander reported budget meetings are tentatively scheduled for the week of August 12, 2013. 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. Committee memberTommy Moser questioned anexpenditure to Monte Carlo Hotel and Casino. Finance Director Michael Dolby advised he will confirm the expenditure and advise the committee. 9.Adjourn There being no further business, Committee Member Daryl Leonardmoved to adjourn the meeting at 5:24p.m. Committee member Tommy Moserseconded. Respectfully submitted, ________________________________ Patrice Fogarty, City Secretary Passed and approved on the _____day of___________, 2013. ________________________________ Chairman Chuck Engelken Page 2of 2 July 22, 2013, Fiscal Affairs Committee Minutes REQUEST FOR CITY COUNCIL AGENDA ITEM Amount Budgeted Agenda Date Requested: September 23, 2013 Source of Funds: Requested By: Michael G. Dolby, Director of Finance Account Number: Department: FINANCE Amount Budgeted Report: Resolution: XXX Ordinance: Amount Requested: Exhibits: Budgeted Item: YES NO Exhibits: GASB 54 has a requirement that must be completed prior to the end of the fiscal year to commit fund balance of the General Fund. The General Fund fund balance can only be committed for a specific purpose by formal action of the City council. Committed fund balance does not lapse at year-end. . The formal action required to commit fund balance shall be by resolution. A recommendation has been made to commit $1,500,000 for Health insurance and $2,000,000 for Utility capital projects. Action Required by Council: Approvedfor City Council Agenda Corby Alexander, City Manager Date