HomeMy WebLinkAbout09-15-2003 Item III-D.pdfWASHINGTON
MINUTES
FINANCE COMMITTEE
SEPTEMBER 2, 2003
CALL TO ORDER
Chair Fred Poe called the meeting to order at 6:30 p.m. in the Council
Conference Room located at City Hall, 25 West Main Street, Auburn,
Washington, 98001. Chair Poe and Member Nancy Backus were present.
Vice Chair Gene Cerino was excused. Others present included: Mayor
Peter B. Lewis, City Attorney Daniel B. Heid, Finance Director Shelley
Coleman, Employee Relations and Compensation Manager John
Fletcher, Associate Planner Shirley Aird, Bill Peloza, and City Clerk
Danielle Daskam.
II. APPROVAL OF MINUTES
A. Minutes of the August 18, 2003 Finance Committee meeting.
Member Backus moved and Chair Poe seconded to approve the
August 18, 2003 minutes.
MOTION CARRIED UNANIMOUSLY. 2-0.
III. CONSENT ITEMS
A. Vouchers
1. Claims
F4.9.5
Claims check numbers 323663 through 324012 in the
amount of $1,906,719.32 and dated September 2, 2003.
2. Payroll
F4.9.2
Payroll check numbers 505396 to 50557-57 in the amount of
$290,245.33 and electronic deposit transmissions in the
amount of $927,121.00 for a grand total of $1,217,366.33 for
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Finance Committee Minutes September 2, 2003
the pay period covering August 14, 2003 to August 27,
2003.
Finance Director Coleman reported that the payroll ending
check number should read 505577 rather than 505575.
Member Backus moved and Chair Poe seconded to approve
the consent items with the corrected ending payroll check
number to read 505577.
MOTION CARRIED UNANIMOUSLY. 2-0.
IV. ORDINANCES AND RESOLUTIONS
A. Resolution No. 3631
A Resolution of the City Council of the City of Auburn, Washington,
authorizing the Mayor and City Clerk to execute an Agreement
between the City of Auburn and American Funeral and Cemetery
Trust Services for the purpose of administering and managing
client funds paid to the City pursuant to pre -arrangement sales
contracts for collective investment in a master trust.
(For clarification of these minutes, Resolution No. 3631 was
discussed following Item V.A of these minutes.)
Ms. Coleman reported that Resolution No. 3631 and the proposed
agreement with American Funeral and Cemetery Trust (AFCTS)
were discussed at the Municipal Services Committee earlier this
evening.
Finance Director Coleman presented the Committee members with
the cemetery fee schedules. The fees are increased periodically to
keep up with the cost of living increases.
Ms. Coleman stated that AFCTS indicated there have been
adequate earnings to cover fee increases. Earnings on the trust
have ranged from 2.7% to 8.2% over the past 18 months. Also,
AFCTS collects a 1.97% management fee off of the earnings only;
if there are no earnings, no fee is collected. The current trust
balance is in excess of $9.3 million. AFCTS ladders investments
over long periods of time to lock in returns.
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Finance Committee Minutes September 2, 2003
AFCTS has 20 clients in Washington and is located in 16 states
serving 250 funeral homes and 50 cemeteries.
Member Backus moved and Chair Poe seconded to recommend
Council approval of Resolution No. 3631.
MOTION CARRIED UNANIMOUSLY. 2-0.
V. DISCUSSION ITEMS
A. Human Services General Fund Grant Recommendations
Associate Planner Aird presented the Committee with a handout
outlining the modified 2004 General Fund human services requests
and grant recommendations from the Human Services Committee.
The Committee originally anticipated $336,550 in total General
Fund grants and modified the recommendations when it was
determined that $362,043 would be available for General Fund
grants. Essentially, the Human Services Committee recommended
continued funding for programs funded last year, with the addition
of Catholic Community Services Children's Domestic Violence (DV)
Counseling grant in the amount of $5,000. Ms. Aird reported that
the Children's DV Counseling program may not continue due to
lack of additional funding; and if the program is dropped, the
Human Services Committee will make a recommendation on the
reallocation of the funds.
In response to questions from Member Backus, Ms. Aird advised
that no new agencies applied for General Fund grants, and all who
applied were funded. Only those who applied for Block Grant
funds were denied funding. Ms. Aird reported that all applicants
received a copy of both the recommended General Fund
allocations and the Block Grant recommendations. The human
services funding allocations will be included in the Planning
Department budget under Professional Services.
VI. ADJOURNMENT
There being no further business to come before the Finance Committee,
the meeting adjourned at 6:46 p.m.
APPROVED THIS DAY OF SEPTEMBER, 2003.
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Finance Committee Minutes September 2, 2003
Fred Poe, Chair Danielle Daskam, City Clerk
I: \clerk\fi nance\fca\2003fcm09-02
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