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Home My WebLink About05/01/2000 FINANCE COMMITTEE May 1, 2000 4 : 10 p.m. Council Chambers Members present: Chairperson Krizek, Jordan, Gronen. Moved by Gronen, seconded by Jordan that the Agenda, as proposed, be approved. Ayes: Three. Motion carried. Moved by Gronen, seconded by Jordan that the Minutes of April 24, 2000, as proposed, be approved. Ayes: Three. Motion carried. The request of the Assistant Superintendent of Central Garage to hold the annual city equipment action was reviewed. Arends Diversified Auction won the bid for the Police Department auction, and will be the auctioneer for the city equipment auction. It is hoped to hold the auction before the end of the fiscal year. Other departments can submit items for the auction. The auctioneer will get a percent of the items sold. Moved by Gronen, seconded by Jordan that said request be approved. Ayes: Three. Motion carried. The request of the Fire Chief to lease a copier for the Regional Training Center was reviewed. The current lease agreement will expire in June, and with the advancement in technology the department will be able to update their system while keeping cost about the same as they have paid in the past. The copier is a Sharp AR286 and will be purchased from Automated Business Products at a cost of $250. 85 per month for five years, which includes 6, 600 copies per month, including all copier supplies except for paper and staples. All copies over 6, 600 would be at a cost of $0. 15 each. Moved by Jordan, seconded by Gronen that the Fire Chief be authorized to lease a Sharp copier from Automated Business Products at a cost of $250.85 per month for five years. Ayes: Three. Motion carried. The request of the City Clerk to approve renewal of the Ambulance Driver' s Liability insurance with Western World Insurance Company was reviewed. The insurance coverage has $250. 00 deductible with $1 million coverage for each incident. The cost of the renewal is $5, 931 .30, which is the same amount of premium paid last year. The committee asked the City Clerk to find out how much the premium would be with a deductible of $5, 000. 00 or $10, 000. 00 and a $5 million umbrella coverage. Moved by Jordan, seconded by Gronen that this item be tabled for one week. Ayes: Three. Motion carried. Moved by Jordan, seconded by Gronen that a sewer refund in the amount of $29. 90 for 1034 Lynda Road be approved. Ayes: Three. Motion carried. The request of the Waterloo Convention & Visitors Bureau for the excess third quarter hotel/motel tax funds was reviewed. The WCVB received the third quarter allocation of Hotel/Motel tax revenues in the amount of $58, 823. 05 a few weeks ago. That amount brought the Convention Center to their minimum $250, 000. 00. The total amount received by the city was $162, 341 . 00, and the WCVB is eligible to receive an additional $22, 347 . 05 of that amount. In the past, the excess moneys have not been requested until June. The WCVB feels that waiting until the last minute to request the excess funds creates some uncertainty in executing the Marketing Plan. Bruce Meisinger, Finance Manager, reported that city ordinance allocates one-half of the first $500, 000. 00 to the WCVB and one- half to the city. Fifty percent of all excess hotel/motel tax revenue received over $500, 000.00 goes to the WCVB and 50 percent is allocated to the council for discretionary use. Mr. Meisinger stated that the June check will be larger, and WCVB will carry over that amount to FY 2001 . 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