07 Nov 2020 Finance Committee Minutes – 10/28/2020
Conducting: Mike Taylor
- Committee Chair Mike Taylor
- Committee Member Newt Adams
- Committee Member John Chamberlain
- City Finance Director Chris Helvey
- Council Member David Pratt
- Briefing on Latest City Budgeting - Chris Helvey
Discussion and plan for evaluating the city’s proposal for purchasing and installing security cameras at various city locations. The idea is to purchase in phases and do the first in next years budget. The city is asking our committee to evaluate these purchases and how the phases might look, both financially and timing.
- Security Camera Purchases
Cost for the firestation and the water tanks the bid was $17,000
There is no additional cost unless we want to store the video in the cloud
Mailboxes are $7000
Newt found some clerical errors in the bid.
Line 2 should be 2 cameras and not 3.
Camera install and setup specifies 8 cameras but it should be 7 according to the count above.
We should get another bid. It’s close enough to the State mandated amount that we should get a second bid.
We discussed Dorel wanting to put camera’s up at the water tanks right away. The discussion was should we spend the money from the water budget to increase security.
Chris discussed how the water account budget works. It only has 5 income lines. This expense would likely come out of Capital Outlay.
The group felt that it would be cheaper to do all the city camera’s at the same time. We really are not in a rush. We could get the second bid.
Jon Chamberlain offered to get a bid from LiveView, a company he knows.
Mike Taylor is going to ask Mike Reid and get his opinion on the bid we have.
- Development a financial analysis on how the current flood mitigation work is affecting our City’s budget.
We discussed ways that we can track the project from a financial standpoint. Mike says that he will talk with Ted Mickelson with Jones & DeMille. Kari is also the cities manager and should be consulted.
- Develop plan to review of our building inspection fees, by Sunrise Engineering, and if our building fees are currently covering our costs.
The city is asking for a deep dive analysis to make sure our building permit fees are covering our expenses to have sunrise do it.
Mike assigned this to Jon Chamberlain to work on this.
- Discuss 2021 budget process for Fire, EMS, Water, Public Works, Office/Administration, etc. The City would like our suggestions on how this should be conducted.
The finance committee talked about sitting down with each department and discuss this next years budget.
Chris suggested that instead we give each department their budget (based on previous years numbers) and if they need more that they then explain that to the finance committee. So it would allow us to just manage the exceptions.
Chris talked about some of the challenges the city is facing with expenses that have grown.
Chris has sent the budget to the finance committee. We talked about them really getting to understand the budget and work through each line items.
Mike asked Newt to look at the special services district for some city operations.
Mike serves on the Soldier Summit special water service district. He used that as an example.
- Used oil discussion from Corbett
Corbett can put in a boiler that runs off of used oil. We can get the oil from the school district which we could do with a multi-year contract.
Installation $20,000, the oil would be essentially free.
Currently spending $6,000 per year on natural gas to heat the city center.
Chris asked how would the oil be delivered to the city. Corbett indicated he could pick up the oil when he goes to deliver the water samples.
Discussion was around the timing of this proposal. The committee felt that it would be better to look at this in the February/March timeframe. Jon was going to meet with Corbett about other matters and would talk to him about putting together an official proposal that the committee could look at again in February or March.
- Other Items of Possible Discussion
Other things to remember
Curtis Livingston told us there were other options for later phases, options that would give us up to 40% forgiveness, where the Division of Drinking water $3.2 million only gave us 9% forgiveness, but that was the only option given our time frame of phase 1. Curtis mentioned Rural Development as being a source for future funding that might have much larger forgiveness % than 9%.
Date of Next Meeting
Next meeting will be 12/9/2020 at 8:00pm
Jon made a motion to adjourn. Newt seconded. All were in favor.