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HomeMy WebLinkAbout08/28/1995 FINANCE COMMITTEE August 28, 1995 4 : 30 p.m. Large Conference Room Members present : Chairperson Krizek, Mollenhoff, Anders . Moved by Mollenhoff, seconded by Anders that the Agenda, as amended to add Item No. 3 to Unfinished Business, "Recommendation on bids received for boilers for fire stations--Building Maintenance" , be approved. Ayes : Three . Motion carried. Moved by Mollenhoff, seconded by Anders that Item No. 1 under Unfinished Business, "Authorization to proceed with development and preparation of comprehensive five-year financial plan--Finance Manager" be moved and considered as the last item on the agenda. Ayes : Three . Motion carried. The following bids received for the asset valuation on city buildings were reviewed: Bidder Phase I Phase II Total Bid Assetlink Inc . $ 14, 400 $ 9, 500 $23, 900 Valuequest Ltd $ 22, 000 $24, 000 $46, 000 Lloyd-Thomas $ 45, 000 $20, 000 $65, 000 Jones Appraisal $100, 000 Phase I requires the valuation of real property buildings with a completion date of October 30, 1995 . Phase II requires appraisals of all supplies and equipment with a value greater than $2, 000 and a life of over two years, with a completion date of May 30, 1996 . It was the recommendation of the City Clerk that the bid of Assetlink Inc . in the amount of $23 , 900 be accepted. Moved by Mollenhoff, seconded by Anders that said recommendation be approved. Ayes : Three . Motion carried. The following bids received for six boilers for the fire stations were reviewed: Bidder Bid Amount C.H. McGuiness Co. $ 70, 960 . 00 Feld-Hazer & Assoc . $ 84, 165 . 00 American Hydronics Systems $159, 000 . 00 Over the full expected life of the installed units the bid from Feld-Hazer is estimated to be $20, 395 . 00 less expensive to purchase and operate than the bid from C.H. McGuiness Co. and $74 , 835 . 00 less expensive to purchase and operate than the bid from American Hydronics Systems . The purpose of the Energy Conservation Project is to purchase the most cost effective and efficient products available that meet all of the rebate and energy efficiency guidelines of the program. It was the recommendation of Building Maintenance that the bid of Feld-Hazer & Assoc. in the amount of $84, 165 . 00 be accepted. Moved by Mollenhoff, seconded by Anders that said recommendation be approved. Ayes : Three. Motion carried. Funding for a Human Rights Specialist position for the Waterloo Human Rights Commission was reviewed. An amount of $8, 000 will be made available from the contingency fund. Moved by Mollenhoff, seconded by Anders that the amount of $8, 000 from the city' s contingency fund for funding of the Human Rights Specialist position be approved. Ayes : Three . Motion carried. An agreement for printing services with Joe Fox dba Pit Stop Printing was reviewed. Allbee Printing approached the city to establish a trial period for in-house printing services to be provided by a subsidiary of Allbee Printing, Pit Stop Printing. Mr. Fox has proposed renting the space formerly used as the city' s Finance Committee August 28, 1995 Page 2 print shop along with the rental of one press and folding or binding equipment . The print shop will be staffed by employees from Allbee and will provide printing services to the city in addition to other customers. Printing services will be provided at a cost not to exceed two cents per copy for black and white copying. Pit Stop Printing will pay $500 per month to lease the former print shop in the basement of city hall . The contract for the printing services is for a 90 day trial period. Moved by Mollenhoff, seconded by Anders that said 90 day agreement be approved. Ayes : Three . Motion carried. Moved by Mollenhoff, seconded by Anders that the request of the Recreation Director for pre-authorization to expend $3, 045 to purchase liquor liability insurance for Young Arena for a one year period be approved. Ayes : Three. Motion carried. Moved by Anders, seconded by Mollenhoff that the request of the Recreation Director for pre-authorization to expend $1, 045 . 53 for transportation costs for the River Hills Day Camp Program be approved. Ayes : Two. Abstain: Krizek. Motion carried. Moved by Mollenhoff, seconded by Anders that the request of Building Maintenance for pre-authorization to expend $3, 550 . 00 for paint for the municipal pools be approved. Ayes : Three . Motion carried. Moved by Mollenhoff, seconded by Anders that the request of the Parks Director to transfer $50, 948 .43 from the General Fund to the Golf Improvement Fund be approved. Ayes : Three. Motion carried. Moved by Mollenhoff, seconded by Anders that the request of the Fire Chief to increase Line Item 1551 (Medical Supplies) in the amount of $1, 000 . 00 be approved. Ayes : Three. Motion carried. Moved by Mollenhoff, seconded by Anders that the request of the Fire Chief to transfer $7, 500 . 00 from Line Item 1111 (Regular Salaries) to Line Item 1390 (Other Contractual Operating Expenses) be approved. Ayes : Three. Motion carried. Moved by Mollenhoff, seconded by Anders that the request of the Police Chief to decrease Line Item 1111 (Salaries) and increase Line Item 1390 (Operational Contract for Services) in the amount of $20, 000 . 00 be approved. Ayes : Three. Motion carried. Moved by Anders, seconded by Mollenhoff that Bills Payment, as contained in Schedule AP640, pp. 1-58 dated August 28, 1995 in the amount of $1, 436, 638 . 02, be approved and forwarded to the full council for approval, with Councilperson Mollenhoff abstaining on PV 15110 . Ayes : Three . Motion carried. The Finance Committee discussed the methods to be used and purpose for the five year financial plan proposal . Councilperson Mollenhoff asked for verification that a baseline would be established and that operating assumptions would be set forth. Councilperson Krizek affirmed the need for a five year financial plan but requested that the finance committee be able to participate throughout the process. Bruce Meisinger, Finance Manager, provided a flow chart representing the process for the development of the five year plan which does require input from the Mayor and Council along with City departments and the capital improvements program. Krizek stated that she has no problem with implementing a five year financial plan forecasting tool but would request that other projects be updated as requested such as the report on the implementation of the budget review recommendations. Meisinger reported that if the project is awarded then the financial advisor will be required to do the legwork and his efforts can be focused elsewhere. Finance Committee August 28, 1995 Page 3 Councilperson Anders stated that he would support the development of a five year plan by City staff without using an outside service contract; however, he recognized the staff limitations facing the department at this time. Councilperson Mollenhoff asked for an estimate of staff time that would be needed in assisting Speer in the plan development . Meisinger estimated that four to five staff days would be needed for completion of the project as proposed. Moved by Anders, seconded by Mollenhoff that the contract with Speer Financial to develop a comprehensive five year financial plan for a fee of $5, 000 . 00 be approved. Ayes : Three. Motion carried. Moved by Anders, seconded b Mollenhoff that the request of the Finance Manager to transfer $5, 000 . 00 from line Item 1710 (Contingencies) to Line Item 1311 (Accounting Services) be approved. Ayes : Three. Motion carried. With no further business before the committee, it was moved by Mollenhoff, seconded by Anders that the meeting be adjourned at 5 : 50 p.m. Ayes : Three. Motion carried. Susan Fangman City Clerk