HomeMy Public PortalAbout1996-24 Financial Policy Committee members, appreciationRESOLUTION NO. 96-24
A RESOLUTION OF THE VILLAGE OF KEY BISCAYNE,
FLORIDA; EXPRESSING APPRECIATION FOR THE
COMMITMENT AND DEDICATION OF MEMBERS OF
THE FINANCIAL POLICY COMMITTEE; PROVIDING
FOR AN EFFECTIVE DATE.
WHEREAS, the Financial Policy Committee of the Village of Key Biscayne was created by
the Village Council on April 9, 1996; and
WHEREAS, the committee was established for the purpose of examining and making
recommendations to the Village Council regarding possible adjustments to the existing financial
policies of the Village; and
WHEREAS, the committee of ten members has forwarded to the Village Council final report
including a set of recommendations as a result of its findings; and
WHEREAS, the committee was dissolved by the Village Council at their -July -25, 1996
meeting.
NOW, THEREFORE, BE IT RESOLVED BY THE VILLAGE COUNCIL OF KEY
BISCAYNE AS FOLLOWS:
Section 1. That the Financial Policy Committee, having submitted a final report including
a set of recommendations to the Village Council, attached as Exhibit A, be dissolved.
Section 2. That a copy of this resolution shall be presented to each member of the
committee, listed on Exhibit B, in appreciation of their commitment and dedication to the Village
and its residents.
Each copy shall state:
Presented to
in appreciation for commitment and dedication to the Village of Key
Biscayne as a member of the Financial Policy Committee.
Section 3. This resolution shall be effective immediately
upon adoption.
PASSED AND ADOPTED this 10th day of September , 1996.
MAYOR JOHN F. FESTA
ATTEST:
e'r. 7
YOCELYN GALIANO GOMEZ, ACTING VILLAGE CLERK
APPROVED AS TO FORM AND LEGAL SUFFICIENCY:
RICHARD J. WEISS, VILLAGE ATTORNEY
-2-
EXHIBIT A
FINAL REPORT
Financial Policy Committee
june 1996
CONTENTS
L. INTRODUCTION 1
II. PROCEDURE
III. FACTS FOUND 2
IV. RECOMMENDATIONS 3
V. SIGNATURES 4
Ina
I. INTRODUCTION
The Financial Policy Committee .vas established by the Village Council on April 9, 1996.
The committee's purpose vas :o review ail aspects of the three proposed O'Reilly' charter
amendments and the Village's existing ::nanciai policy and their impact on the Village's Master
Plan. Goals and Obiecuves. : iscai Year 1996 Capital Budget. and the Five Year Capital
Improvement Plan.
The committee vas charged with examining whether the existing policy should be changed and
make recommendations on each of the proposed charter amendments or any other proposals
discussed by the committee.
The issues considered by the committee included the following:
a) Definitions of debt (i.e. what debt should be included and/or excluded if a debt
limit policy is adopted by the Village):
bl Review of current and proposed requirements for voter approval of debt and a
specific recommendation in that regard: and
c ) The ^rover vehicle for any spec::;c change in the financial policy that should be
aaot,tea ; ..:. :ea:_:eq ::_. .rc.a::eticv. ordinance or charter amendment).
Vice NIavor John Vaid was appointed :o serve as me non -voting chairman of the committee.
The Village Councii appointed The following residents to serve on the committee: Gerald
Broucek: Julio Carillo: Sam Davitian: Ron Drucker: William Hodgson; Robert Maggs; Joe I.
Rasco: John Thomson: and Onofre Torres.
Councilman Hugh T. O'Reilly ' roposed three charter amendments at the March 12. 1996
Village Council meet:ng addressing the issue of debt.
Page 1
II. PROCEDURE
The committee held eight meetings on the following dates: April 18. 1996; April 23, 1996; April
30. 1996: May 7. 1996: May 14. 1996: May 21. 1996: May 28. 1996: and June 18, 1996.
The meetings were open to the public and broadcast live on Cable Channel 29 (C -SPAN II).
A copy of the minutes of the meetings are attached as Addendum A.
The committee reviewed appropriate materials including the Village's existing financial policy,
the Fiscal Year 1996 budget. the Master Plan. and the Fiscal Year 1995 Comprehensive Annual
Financial Report.
The following were invited to appear before the committee: Village Manager C. Samuel
Kissinger: Finance and Administrative Services Director Jack Neustadt: Financial Advisor Percy
Aguilar and Jerry Chiocca representing the accounting firm of Rachlin Cohen and Holtz.
III. FACT FOUND
The committee held open discussions regarding the Villages existing financial policy and the
proposed O'Reilly charter amendments and established a series of recommendations for the
Village Councils consideration.
Page
1V. RECOMMENDATIONS
By voice vote. the committee adopted the following recommendations:
Definition. Long T errn Debt. All monies owed by the Village for period greater than
:weive months. That portion of Enterprise Fund debt which is fully
_supportea by user fees shah not be included in Long Term Debt.
Ent=se funds are defined as funds established to account for operations
which are financed and operated in an independent and a self-liquidating
manner. The expense of providing goods or services to the public on a
continuing basis (including depreciation) must be financed or recovered
entirely ti -.rough user fees.
Policy 1.
Policy
Policy
Police 1.
Limits on Long Term Debt. Long Term Debt of the Village shall not
exceed one percent of the total assessed value of the Village and the
annual debt service shall not exceed fifteen percent of the General Fund
expenditures. whichever is greater.
Limits on Reserve Funds. To provide for emergencies, the Village should
maintain reserve funds which should not exceed twenty percent of the
General Fund expenditures. but shall not be less than $2.000,000.00.
Restricted reserve funds are excluded from this definition.
Su=:s F u_:ncs and E:cess Revenues. Funds available at the end of a fiscal
year shall be used either to reduce debt or to reduce taxes in the next fiscal
year ( as determined by the Council).
Policy: Exceptions. Long. term Debt limits established above regarding
maximum debt service and maximum total debt shall not be increased or
exceeded unless approved by a majority of the qualified electors of the
Village voting in a referendum election on such a measure.
The committee also recommended that Policy 1 ( Limits on Long Term Debt) be prepared as a
charter amendment and placed on the ballot for the consideration of the qualified electors of the
Village.
Page
V. SIGNATURES
This report was adopted by a n - \ roil call vote of the Financial Policy Committee this 18th
day of June , 1996. The concumng members have signed below.
,. /
- ---..",64(4,4, , f 2I'lY��
Gezai Broucek j
to Canes
/ r
/
i / ,/
am Davitian
Gt/ &.Gd_C-----
Ron Drucker V
Robert Maggs
Joe I. Rasco
John Thomson
Onofre Torres
Resvecttull v Submjted bv:
/14 &,.,C
John Waid
/Chairman
Guido H nguanzo, Jr., CMC
Village lerk
Page 4
ADDENDUM A
MINUTES OF THE MEETINGS
OF THE
F: ANC AL POLICY COMMITTEE
MINUTES
FINANCIAL POLICY COMMIllhE
VILLAGE OF KEY BISCAYNE. FLORIDA
THURSDAY. APRIL 18. 1996
COUNCIL CHAMBER
85 WEST MCINTYRE STREET. SECOND FLOOR
The meeting was called to order by the chairman at 8:10 a.m. Present were committee members
Gerald Broucek. Sam Davitian. William Hodgson. Robert Maggs, Joe Rasco. John Thomson, Onofre
Torres. and Chairman John Waid. Village Clerk Guido Ingi1an7o was also present.
At the request of the chairman. each member presented themselves to public.
The committee reviewed the purpose and considerations of the committee outlined by the Village
Council as follows:
Purpose
The committee will review ail aspects of the three proposed O'Reilly charter amendments
and existing Village financial poiicy and their impact on the Village's Master Plan, Goals
and Objectives. Fiscai Year 1996 Capital Budget. and the Five Year Capital Improvement
Plan.
The committee will examine whether the existing policy should be changed and in so doing,
make recommendations on each of the proposed charter amendments or any other proposals
that the committee wishes to recommend.
Considerations
Items to be considered include. but are not limited to:
a) Definitions of debt (i.e. what debt should be included and/or excluded if a debt limit
policy is adopted by the village):
b) Review of current and croposed requirements for voter approval of debt and a
specific recommendation in that regard: and
c) Tne proper vericie for nv specific change in the financial policy that should be
adopted ( i.e. modified financial policy. ordinance or charter amendment).
Page 1 ot::
April 18, 1996
The committee scheduled its next meeting for Tuesday, April 23. 1996, at 8:00 a.m.
The meeting was adiourned at S:f5 a.m.
Respectfully submitted:
2' < ,..-,\----
.
/ ; ------____
Guido H. iitguanzo, Jr., C.JIC
Village CTrl{
Approved by the Committee
'I ' 7th ay of Mr 1996:
_j
Jolhn,T Vaid
94irman
IFA PERSON DECIDES TO.APPS4L A.VY DECISION MADE BY THE VILLAGE COUNCIL
WITH RESPECT TO ANY MA TTER CONSIDERED AT A MEETING OR HEARING, THAT
PERSON WILL NEED A RECORD OF THE PROCEEDINGS AND, FOR SUCH PURPOSE,
MAY NEED TO ENSURE TIL4 T A I 'RBA TIM RECORD OF THE PROCEEDINGS IS
MADE. WHICH RECORD INCLUDES THE TESTIMONY AND EVIDENCE UPON WHICH
THE APPEAL IS TO BE BASED.
MINUTES
FINANCIAL POLICY COMMI I-I-hE
VILLAGE OF KEY BISCAYNE. FLORIDA
TUESDAY. APRIL 23. 1996
COUNCIL CHAMBER
85 \VEST MMCINTYRE STREET. SECOND FLOOR
1. ROLL CALL: The meeting vas called to order by the chairman at 8:05 a.m. Present were
committee members Gerald Broucek. Sam Davitian. Ron Drucker. William Hodgson, Robert Maggs,
Joe Rasco. John Thomson. Onofre Torres. and Chairman John Waid. Also present were Village
Clerk Guido Inguanzo and Finance and Administrative Services Director Jack Neustadt.
2. MINUTES: There were no minutes submitted for the committee's consideration.
3. ORDER OF BUSINESS: At the request of the committee. Finance Director Neustadt discussed
types of governmental debt including general obligation bonds. revenue bonds, special assessments,
and special taxing districts.
The director and committee discussed the Village's current debt.
The committee reviewed the V::age's balance sheet for Fiscal Year 1995 and discussed the reserve
funds.
The committee scheduled its next meeting. for Tuesday. April 30. 1996. at 8:00 a.m.
4. ADJOURNMENT: There ^eing no further business. the meeting was adjourned at 10:15 a.m.
?age 1 ot_
April 23, 1996
Respeetf� ubinitted:
Guido H. 4 nguanzo, Jr.. OIC
Village Clerk
Approved by the Committee
tli 7th ay of Ms..r 1996:
Joh'Waid
C airman
IFA PERSON DECIDES TOAPPE4L ANYDECISION MADE BYTHE VILLAGE COUNCIL
WITH RESPECT TO ANY HATTER CONSIDERED AT A MEETING OR HEARING, THAT
PERSON WILL NEED A RECORD OF THE PROCEEDINGS AND, FOR SUCH PURPOSE,
MAY NEED TO ENSURE THAT A GERBATIM RECORD OF THE PROCEEDINGS IS
MADE, WHICH RECORD INCLUDES THE TESTI_M1ONYAND EVIDENCE UPON WHICH
THE APPEAL IS TO BE BASED.
?age 2 of.?
MINUTES
FINANCIAL POLICY COMMhI-I"EE
VILLAGE OF KEY BISCAYNE, FLORIDA
TUESDAY. APRIL 30. 1996
COUNCIL CHAMBER
85 WEST MMCINTYRE STREET. SECOND FLOOR
The meeting was called to order by the chairman pro tem at 8:10 a.m. Present were committee
members Gerald Broucek. Julio Carillo. Sam Davitian. Ron Drucker. William Hodgson, Joe Rasco,
Onofre Torres. and Chairman John Waid (arrived at 8:30 a.m.). Aso present were Village Clerk
Guido Inguanzo and Finance and Administrative Services Director Jack Neustadt.
Mr. Hodgson nominated Mr. Rasco to serve as chairman pro tem. The nomination was seconded
by Mr. Broucek and adopted by unanimous consent.
Mayor John Festa addressed the committee regarding the Village's financial policy.
Councilman Hugh O'Reilly addressed the committee regarding debt.
There was extensive discussion regarding the Villages current financial policy and the adoption of
a debt policy.
There being no further business. the meeting was adjourned at 9:50 a.m.
Resp
Guido H. n juanzo, Jr., CMC
Village lerk
Approved by the Committee
th '. 1 i ' ay s./May. 1,99
John aid
C rman
IFA PERSON DECIDES TO.4PPE4L .4NY DECISION MADE BY THE VILLAGE COUNCIL WITH RESPECT
TO ANY MATTER CONSIDERED .4 T.4 MEETI`'G OR HE4RLVG. THAT PERSON WILL NEED A RECORD
OF THE PROCEEDINGS .4.N'D. FOR SUCH PURPOSE. MAY .VEED TO ENSURE THAT A VERBATIM
RECORD OF THE PROCEEDINGS IS M4DE. WHICH RECORD INCLUDES THE TESTIMONY AND
EVIDENCE UPON WHICH THE APPEAL IS TO BE BASED.
?age 1 ot'1
MINUTES
FINANCIAL POLICY COMMI I"IiE
VILLAGE OF KEY BISCAYNE. FLORIDA
TUESDAY. MAY 7. 1996
COUNCIL CHAMBER
85 NEST MICINTYRE STREET. SECOND FLOOR
The meeting was called to order by the chairman at 8:05 a.m. Present were committee members
Gerald Broucek. Julio Cariilo. Sam Davitian. William Hodgson. Joe Rasco, John Thomson, and
Chairman John Waid. Committee members Ron Drucker. Robert Maggs and Onofre Torres were
absent. Also present was Village Clerk Guido Inguanzo.
Mr. Hodgson made a motion adopting the minutes of the meetings of April 18, 1996, Apri123, 1996,
and April 30. 1996. The motion was seconded by Mr. Rasco and adopted by unanimous consent.
The clerk read a statement from `1r. Onofre Torres regarding recommendations for the consideration
of the committee.
Mr. Jerry Chioca. of Rachlin Cohen and Holtz. the Village's auditing firm. and Percy Aguila, the
Village's financial advisor. panicipated in discussions with the committee.
Mr. Thomson presented Es proposed drat: committee report for the committee's review.
Councilman Hugh O'Reilly. M Mayor John Festa and Finance and Administrative Services Director
Jack Neustadt addressed the committee.
The meeting was adjoured at 10:15 a.m.
Respec4�fFi1lv�scbn tied:
Guido H. In'uanzo. Jr., C.MC
Village Clkk
.-gyp by the Co ee
this 184 dav�,1 June, ' 96:
W'd
airman
IF A PERSON DECIDES TO APPE4L .4.‘Y DECISION .MADE BY THE VILL-I GE COUNCIL WITH RESPECT TO ANY
MATTER CONSIDERED .4T .4 .MEETING OR HEARING. THAT PERSON WILL NEED A RECORD OF THE
PROCEEDINGS AND. FOR SUCH PURPOSE. Y NEED TO ENSURE THAT A VERBATIM RECORD OF THE
PROCEEDINGS IS MADE. iVNICH RECORD INCLUDES THE TESTIMONY .4ND EVIDENCE UPON WHICH THE
.4PPEAL IS TO BE BASED.
MINUTES
FINANCIAL POLICY COMMI 1"I EE
VILLAGE OF KEY BISCAYNE, FLORIDA
TUESDAY. MAY 14, 1996
COUNCIL CHAMBER
85 WEST _MCINTYRE STREET. SECOND FLOOR
The meeting was called to order by the chairman at 8:10 a.m. Present were committee members
Gerald Broucek. Julio Carillo. Sam Davitian. Robert Maegs, William Hodgson, Joe Rasco, John
Thomson. and Chairman John Waid. Also present was Village Clerk Guido Inguanzo.
The committee continued its discussions regarding a definition of debt, long term debt policy,
reserve and surplus funds policy. and manner in which such policies should be implemented by the
Village.
The committee. by consensus. concurred on the following issues:
A. Long Term Debt. Long. term debt shall be defined as all monies owed by the Village for
a period greater than twelve months. Enterprise Fund debt shall be included in long term
debt unless the fund is fully supported by user fees.
B. Policy Options. Debt service shall not exceed fifteen percent of the General Fund
expenditures and total debt shall not exceed one percent of the total assessed value of the
Village. No debt shall exceed thirty years or the useful life of the project.
The meeting was adjourned at 10:10 a.m.
Respects sub :tted:
Guido H. I,tguanzo. Jr.. CMC
Village Clerk
A - • 1 by the Co • 'tree
this
fJ e 1996:
Js Waid
airman
IF A PERSON DECIDES TO APPEAL .4NY DECISION MADE BY THE VILLAGE COUNCIL WITH RESPECT TO ANY
LVATTER CONSIDERED AT .-A MEETING OR HEARING. THAT PERSON WILL NEED A RECORD OF THE
PROCEEDINGS AND. FOR SUCH PURPOSE. MAY .vEED TO ENSURE THAT A VERBATIM RECORD OF THE
PROCEEDINGS IS MADE. WHICH RECORD INCLUDES THE TESTIMONY AND EVIDENCE UPON WHICH THE
APPEAL IS TO BE BASED.
MINUTES
FINANCIAL POLICY COMMI 1-1 EE
VILLAGE OF KEY BISCAYNE. FLORIDA
TUESDAY. MAY 21. 1996
COUNCIL CHAMBER
85 \SST'MCINT`i RE STREET. SECOND FLOOR
The meeting was called to order by the chairman at 8:00 a.m. Present were committee members
Gerald Broucek. Julio Cariilo. Ron Drucker. Sam Davitian. William Hodgson, Robert Maggs, Joe
Rasco. John Thomson. Onofre Torres. and Chairman John Waid. Also present was Staff Assistant
to the Village Clerk Vivien Mauri.
The committee discussed the Villages borrowing options based on different scenarios.
The committee discussed proposed definitions of long term debt.
The committee discussed options relating to the use of reserve and surplus funds.
Councilman Hugh 0 -Reilly participated in discussions with the committee.
The following members of the public ad rep red the committee: Mortimer Fried; Martha Broucek;
and Heidi Archibald.
The meeting was adiourned at 10:45 a.m..
Respe ully • ►,gitted:
Guido H. IIlguanzo, Jr.. C IC
Village erk
Ap • . i by the Co
this 18th day� Jun
Job' Waid
rman
ee
96:
IF A PERSON DECIDES TO APPE4L ANY DECISION .1fADE BY THE VILLAGE COUNCIL WITH RESPECT TO ANY
.MATTER CONSIDERED AT .-1 MEETING OR HEARING. THAT PERSON WILL NEED A RECORD OF THE
PROCEEDINGS AND. FOR SUCH PURPOSE. MAY NEED TO ENSURE THAT A VERBATIM RECORD OF THE
PROCEEDINGS IS MADE. 1G HICH RECORD I.\ CL UDES THE TESTIMONY AND EVIDENCE UPON WHICH THE
-IPPEgL IS TO BE BASED.
MINUTES
FINANCIAL POLICY COMMITTEE
VILLAGE OF KEY BISCAYNE. FLORIDA
TUESDAY. MAY 28. 1996
COUNCIL CHAMBER
85 WEST MCINTYRE STREET. SECOND FLOOR
The meeting was called to order by the chairman at 8:10 a.m. Present were committee members
Gerald Broucek. Julio Carillo. Sam Davitian. Ron Drucker, William Hodgson, Robert Maggs, Joe
Rasco, John Thomson. and Chairman John Waid. Also present was Village Clerk Guido Inguanzo.
The committee discussed and concurred on the following, policies:
Long Term Debt. All monies owed by the Village for period greater than twelve months.
That portion of Enterprise Fund debt which is fully supported by user fees shall not be
included in Long Term Debt. Enterprise funds are defined as funds established to account
for operations which are financed and operated in an independent and a self-liquidating
manner. The expense of providing goods or services to the public on a continuing basis
(including depreciation) must be finance or recovered entirely through user fees.
Limits on Long Term Debt. Long Term Debt of the Village shall not exceed one percent of
the total assessed value of the Village and the annual debt service shall not exceed fifteen
percent of the General Fund expenditures whichever is greater.
Limits on Reserve Funds. To provide for emergencies. the Village should maintain reserve
funds which should not exceed twenty percent of the General Fund expenditures, but shall
not be less than $2.000.000.00. Restricted reserve funds are excluded from this definition.
Surplus Funds and Excess Revenues. Funds available at the end of a fiscal year shall be used
to either reduce debt or to reduce taxes in the next fiscal year (as determined by the Council).
Policy Exceptions. Long term Debt limits established above regarding maximum debt
service and maximum total debt shall not be increased or exceeded unless approved by a
majority of the qualified electors of the Village voting in a referendum election on such a
measure.
Page 1 of 3
May 28, 1996
Mr. Hodgson made a motion recommending to the Council the adoption of "Long Term Debt" as
a definition. The motion was seconded by Mr. Cariilo and adopted by unanimous consent.
Mr. Hodgson made a motion recommending to the Council the adoption of "Limits on Long Term
Debt" as a financial policy. The motion was seconded by Mr. Davitian and adopted by unanimous
consent.
Mr. Rasco made a motion recommending to the Council the adoption of "Limits on Reserve Funds"
as a financial policy. The motion was seconded by Mr. Davitian and adopted by unanimous consent.
Mr. Drucker made a motion recommending to the Council the adoption of "Surplus Funds and
Excess Revenues" as a financial policy. The motion was seconded by Mr. Davitian and adopted by
unanimous consent.
Mr. Thomson made a motion recommending to the Council the adoption of "Policy Exceptions" as
a financial policy. The motion was seconded by Mr. Drucker and adopted by unanimous consent.
Mr. Thomson made a motion recommending to the Council that the "Limits on Long Term Debt"
be placed on the ballot as a charter amendment. The motion was seconded Mr. Carillo.
Dr. N'iaggs offered an amendment to the Thomson motion that all of the policy items be placed on
the ballot. There was no second to the motion.
The Thomson motion was adopted by a 5 - 3 roil call vote. The vote was as follows: Committee
Members Carillo. Davitian. Hodgson. Rasco. and Thomson voting Yes. Committee Members
Broucek, Drucker. and Maggs voting No.
The committee scheduled its final meeting for June 18. 1996.
The meeting was adjourned at 11:05 a.m.
Page 2 of 3
May 28, 1996
Resp tfu1 s bmitted:
/
Guido . Inguanzo, Jr., CMC
Villa Clerk
Approved by the Committee
t is ► t day of J 1996:
Waid
tairman
IFA PERSONDECIDES TO APPEAL ANY DECISION MADE BY THE VILLAGE COUNCIL
WITH RESPECT TO ANY MATTER CONSIDERED AT A MEETING OR HEARING, THAT
PERSON WILL NEED A RECORD OF THE PROCEEDINGS AND, FOR SUCH PURPOSE,
MAY NEED TO ENSURE THAT A VERBATIM RECORD OF THE PROCEEDINGS IS
MADE, WHICH RECORD INCLUDES THE TESTIMONY AND EVIDENCE UPON WHICH
THE APPEAL IS TO BE BASED.
Page 3 of 3
MINUTES
FINANCIAL POLICY COMMI 1"I EE
VILLAGE OF KEY BISCAYNE
TUESDAY. JUNE 18. 1996
COUNCIL CHAMBER
85 NEST MCINTYRE STREET. SECOND FLOOR
1. CALL TO ORDER/ROLL CALL OF MEMBERS: The meeting was called to order by
the chairman at 8:10 a.m. Present were committee members Gerald Broucek, Ron Drucker, Julio
Carillo. Sam Davitian. William Hodgson. Robert Maggs, John Thomson, Onofre Torres, and
Chairman John Waid were present. Also present vas Village Clerk Guido Inguanzo.
AGENDA: There were no changes to the agenda.
3. APPROVAL OF MINUTES: Mr. Drucker made a motion adopting the minutes of the
meetings of May 7. 1996. May 14. 1996. May 21. 1996, and May 28, 1996. The motion was
seconded by Mr. Hodgson and adopted by unanimous consent.
4. DISCUSSION: The committee discussed a proposed final report.
Mr. Thomson offered an amendment to page 3 of the report as follows: "The committee also
recommended that Policy 1 (Limits on Long Term Debt) and Policy 2 (Limits on Reserve Funds)
be prepared as a charter amendments and placed on the ballot for the consideration of the qualified
electors of the Village." The motion was seconded by Dr. Maggs and failed on a 7 - 1 voice vote.
The vote was as follows: fir. Thomson voting Yes. Messrs. Broucek, Carillo, Davitian, Drucker,
Hodgson. Maggs, and Torres voting No.
Mr. Drucker made a motion adopting the committee report. The motion was seconded by Mr.
Davitian and adopted by a 7 - 1 roll call vote. The vote was as follows: Messrs. Broucek, Carillo,
Davitian. Drucker. Hodgson. Maggs, and Thomson voting Yes. Mr. Torres voting No.
5. ADJOURNMENT: The meeting was adioumed at 8:55 a.m.
Guido H. I anzo. Jr.. CMC
Village C k
IF A PERSON DECIDES TO APPE4L .4.\ Y DECISION t1.4DE BY THE VILLAGE COUNCIL WITH RESPECT TO ANY MATTER
CONSIDERED .4 T .4 MEETING OR HE4 RI NG. TH.4 T PERSON If 7LL .NEED A RECORD OF THE PROCEEDINGS AND, FOR SUCH
PURPOSE MAY NEED TO ENSURE TK4 T .4 1 ERBATI.SI RECORD OF THE PROCEEDINGS IS MADE WHICH RECORD INCLUDES
THE TESTIMONY AND EVIDENCE UPO.V WHICH THE .4 PPE4L IS TO BE BASED.
Village of Key Biscayne
v
Village Council
John F. Festa, Mayor
John \tiaid, Vice Mayor
Raul Llorente
Hugh T. O'Reilly
Michele Padovan
Raymond P. Sullivan
Betty Sime
Financial Policy Committee
John «aid, Chairman
Gerald Broucek
Julio Carillo
Sam Davitian
Ron Drucker
William Hodgson
Robert Maggs
v v
Joe I. Rasco
John Thomson
Onofre Torres
35 West McIntyre Street Key Biscayne. Forma 33149 •' 3051365-5511 • Fax: (3051365.87936 • Internet: http://vkb.key-biscayne.fl.us
MISSION STATEMENT: "TO PROVIDE A SAFE. QC.-kLITY COMMUNITY ENVIRONMENT FOR All. ISLANDERS THROUGH RESPONSIBLE GOVERNMENT."
EXHIBIT B
FINANCIAL POLICY COMMITTEE
John Waid, Chairman
Gerald Broucek
Julio Carrillo
Sam Davitian
Ron Drucker
William Hodgson
Robert Maggs
Joe I. Rasco
John Thomson
Onofre Torres