HomeMy Public PortalAbout20130219 finance minutes
CITY OF JEFFERSON
Finance Committee Meeting
Tuesday, February 19, 2013
MINUTES
The meeting was called to order by the Finance Committee Chairman, Councilman Shawn Schulte at 7:32 AM.
Roll call showed that Councilmen Schulte, Weber and Bray were in attendance. Councilman Pope and
Councilwoman Carroll were absent. Councilwoman Carroll joined the meeting at 7:40 AM.
The minutes of the November 27, 2012 meeting were reviewed and a motion to approve was made by
Councilman Weber and seconded by Councilman Bray. The minutes were approved unanimously.
The next item discussed was taken out of order and originally appeared as number 8 on the agenda. This
involved a short report by the Interim Finance Director, Bill Betts, covering an overview of the budget
spreadsheets that will be presented to both the Finance Committee and full council going forward.
The next item on the agenda was a report by Mr. Betts, covering the sales tax revenue for February and inclusive
of four months of the fiscal year. During this time Mr. Betts addressed the fact that it may be necessary to
change the projections for the General Fund Sales Tax.
The next item on the agenda was a short report by the Chief Accountant, Shiela Pearre, covering the Lodging
Tax receipts to date. Lodging tax collected in January was $55,126. The total collected during the timeframe
where the rate has been 7% is $1,704,646.
The next item on the agenda was a brief status update from Ms. Pearre regarding the City’s annual audit.
The next item on the agenda was the presentation of quarterly financial reports by Mr. Betts. There was a
request to add a column called “% of Budget” and staff advised they would see if this was possible.
The next item on the agenda was an brief discussion regarding the preferred financial terms and the definitions
associated with each term. These terms will be forwarded to staff and Mr. Betts will request that the use of the
terms be standardized.
The next item on the agenda was a presentation by City Counselor, Drew Hilpert, regarding an amendment to
the JCTV Contract. After some discussion the Committee requested the proposed bill be amended to modify the
termination clause to 30 days. A motion was made by Councilwoman Carroll to move the bill to full council as
amended. It was seconded by Councilman Weber and approved by a vote of 3 to1.
There was no new business or old business discussed.
Adjournment took place at 8:17 AM.
As recorded by:
Shiela Pearre, Chief Accountant