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Home My WebLink About09-22-14 Fiscal Affairs Committee MeetingCHUCK ENGELKEN, CHAIR Councilmember, District 2 DARYL LEONARD Councilmember, District 3 TOMMY MOSER Councilmember, District 4 CITY OF LA PORTE FISCAL AFFAIRS COMMITTEE MEETING AGENDA JAY MARTIN Alternate Member 1 DOTTIE KAMINSKI Alternate Member 2 Notice is hereby given of a meeting of the City of La Porte Fiscal Affairs Committee to be held on September 22, 2014, in the City Hall Council Chambers, 604 W. Fairmont Parkway, La Porte, Texas, beginning at 4:30 PM regarding the items of business according to the agenda listed below: 1. Call to order 2. Consider approval of minutes of the July 28, 2014, meeting of the Fiscal Affairs Committee - P. Fogarty 3. Review and discuss a proposed Resolution of the City of La Porte, Texas, approving General Fund Commitments of Fund Balance for Fiscal Year 2013-2014 - M. Dolby 4. Set date for next meeting — M. Dolby 5. Administrative Reports— C. Alexander 6. Committee Comments 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 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 September 22, 2014, agenda of items to be considered by the Fiscal Affairs Committee was placed on the City Hall Bulletin Board on September 16, 2014. Patrice Fogarty, City Secretary CHUCK ENGELKEN, CHAIR Councilmember District 2 Committee Member DARYL LEONARD Councilmember District 3 Committee Member TOMMY MOSER Councilmember District 4 Committee Member JAY MARTIN Councilmember District 5 Alternate Member 1 DOTTIE KAMINSKI Councilmember At Large B Alternate Member 2 MINUTES OF MEETING OF FISCAL AFFAIRS COMMITTEE J U LY 28, 2014 The Fiscal Affairs Committee met on July 28, 2014, at 5:00 p.m., in the 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 5:02 p.m. Present were: Committee Member Tommy Moser, Daryl Leonard and Alternate Member 1 Jay Martin. Absent: Alternate Member 2 Dottie Kaminski. Also present were City Secretary Patrice Fogarty, City Manager Corby Alexander, Finance Director Michael Dolby, Controller Phyllis Rinehart, Treasurer Shelley Wolny and Purchasing Manager Cherell Daeumer. 2. Consider approval of Minutes of the April 28, 2014, meeting of the Fiscal Affairs Committee — P. Fogarty Committee member Leonard moved to approve the minutes of the March 10, 2014, meeting. Committee member Moser seconded. MOTION PASSED. Ayes: Chairman Engelken, Committee Member Moser and Leonard Nays: None Absent: Alternate Committee Member 2 Kaminski 3. Receive and review Third Quarter (FY2014) Investment Report — M. Dolby Treasurer Shelley Wolny provided the Third Quarter (FY2014) Investment Report. 4. Receive and review month of March, April and May (FY2014) Purchasing Card Expenditures — M Dolby Finance Director Michael Dolby presented the month of March, April and May (FY2014) Purchasing Card Expenditures. Committee Member Moser asked if there is a policy in place to give La Porte businesses a 5 percent advantage when bidding. Purchasing Manager Cherell Daeumer responded no. Finance Director Michael Dolby advised the Committee that Staff will bring a policy before them. Alternate Member 1 Jay Martin said he noticed that Southern Tire Mart is listed as one of the Top 20 Vendors and asked if La Porte Tire places bids. Purchasing Manager Cherell Daeumer advised she will check with the Public Works Department and confirm. Page 1 of 2 July 28, 2014, Fiscal Affairs Committee Minutes Committee Member Moser asked if the City receive funds back with the Buy Board. Purchasing Manager Cherell Daeumer responded the City receives a small rebate on purchases. Page 2 of 2 July 28, 2014, Fiscal Affairs Committee Minutes 5. Set date for next meeting — M. Dolby The Committee set September 22, 2014, at 4:30 p.m., as the date and time for the next meeting. 6. Administrative Reports — C. Alexander City Manager Corby Alexander congratulated the Finance Department for receiving the Platinum Leadership Circle Award from the Comptroller's Office. 7. 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. 8. Adjourn There being no further business, Committee Member Moser moved to adjourn the meeting at 5:18 p.m. Committee Member Leonard seconded. MOTION PASSED. Respectfully submitted, Patrice Fogarty, City Secretary Passed and approved on the day of 12014 Chairman Chuck Engelken Page 3 of 2 July 28, 2014, Fiscal Affairs Committee Minutes REQUEST FOR FISCAL AFFAIRS COMMITTEE AGENDA ITEM Agenda Date Requested: September 22, 2014 Requested By: M. Dolby Department: Finance Report: '' Resolution:'' Ordinance: ' Exhibits: 1. Re s olutio n Appropriation Source of Funds: N/A Account Number: N/A Amount Budgeted: N/A Amount Requested: N/A Budgeted Item: YES NO SUMMARY & RECOMMENDATIONS 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 shallbe by resolution. The $2,000,000 committed in fiscal year 2013 for future construction willbe used in the 2014-2015 budget. The $1,500,000 committed in fiscal year 2012 for health expenses will remain committed. A recommendation has been made to commit $5,000,000 for utility improvements. The total committed funds as of September 30, 2014 will be $8,500,000. Utility Improvements $5,000,000 Future Construction $2,000,000 Health Expenses $1,500,000 Action Required by the Fiscal Affairs Committee: Approve resolution. Approved for Fiscal Affairs Committee Agenda Corby D. Alexander, City Manager Date RESOLUTION NO. 2014- A RESOLUTION OF THE CITY OF LA PORTE, TEXAS, APPROVING GENERAL FUND COMMITMENTS OF FUND BALANCE FOR FISCAL YEAR 2013-2014; FINDING COMPLIANCE WITH THE OPEN MEETINGS LAW; AND SETTING AN EFFECTIVE DATE THEREOF. WHEREAS, the Governmental Accounting Standards Board (GASB) has issued its Statement No. 54, Fund Balance Reporting and Governmental Fund type definitions with the intent of improving financial reporting by providing fund balance categories that will be more easily understood; and WHEREAS, the City Council may adopt a resolution to commit General Fund fund balance for specific purposes by taking formal action and those committed amounts cannot be used for any other purpose unless the City Council removes or changes the specific use through the same formal action taken to establish the commitment; and WHEREAS, the City Manager has recommended to the City Council that the following commitment of the General Fund fund balance for Fiscal Year 2013-2014 be established and approved as follows: Utility Improvements $5,000,000.00 NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LA PORTE, THAT: SECTION 1. The findings and recitations set out in the preamble to this Resolution are found to be true and correct and that they are hereby adopted by the City Council of the City of La Porte, Texas and made a part hereof for all purposes. SECTION 2. The City Council officially finds, determines, recites, and declares that a sufficient written notice of the date, hour place and subject of this meeting of the City Council was posted at a place convenient to the public at City Hall of the City for the time required by law preceding this meeting, as required by the Open Meetings Law, Chapter 551, Texas Government Code; and that this meeting has been open to the public as required by law at all times during which this Resolution and the subject matter thereof has been discussed, considered and formally acted upon. The City Council further ratifies, approves and confirms such written notice and the contents and posting thereof. INTRODUCED, READ and PASSED by the affirmative vote of a majority of the City Council of the City of La Porte, Texas, on this the 22nd day of September 2014. INTRODUCED, READ and PASSED by the affirmative vote of a majority of the City Council of the City of La Porte, Texas, on this the 22nd day of September 2014. Louis R. Rigby Mayor Patrice Fogarty City Secretary 14/ .. Clark T. Askins Assistant City Attorney