HomeMy WebLinkAbout07-06-2004
FINANCE COMMITTEE
JULY 6, 2004
MINUTES
I. CALL TO ORDER
Chair Nancy Backus called the meeting to order at 6:30 p.m. in the
Council Conference Room located at Auburn City Hall, 25 West Main
Street, Auburn, Washington. Committee members present included Chair
Backus and Member Roger Thordarson. Vice Chair Lynn Norman was
excused, and Councilmember Bill Peloza attended as the third committee
member. Also present were Mayor Peter B. Lewis, City Attorney Daniel
B. Heid, Finance Director Shelley Coleman, Employee Relations and
Compensation Manager John Fletcher and City Clerk Danielle Daskam.
II. APPROVAL OF MINUTES
A. Minutes of the June 21, 2004 Finance Committee meeting.
Member Thordarson moved and Member Peloza seconded to
approve the June 21, 2004 Finance Committee minutes.
MOTION CARRIED UNANIMOUSLY. 3-0.
III. CONSENT ITEMS
A. Vouchers
1. Claims
F4.9.5
Claims check numbers 332081 through 332509 in the
amount of $537,305.45 and dated July 6, 2004.
2. Payroll
F4.9.2
Payroll check numbers 508719 to 508905 in the amount of
$294,273.87 and electronic deposit transmissions in the
amount of $971,121.29 for a grand total of $1 ,265,395.16 for
the pay period covering June 17, 2004 to June 28,2004.
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Finance Committee Minutes
July 6. 2004
Member Thordarson moved and Member Peloza seconded
to approve the consent items.
MOTION CARRIED UNANIMOUSLY. 3-0.
IV. ORDINANCES AND RESOLUTIONS
There were no items under this section for Committee consideration.
V. DISCUSSION ITEMS
A. 2003 Annual Report and New Reporting Structure
Finance Director Coleman reviewed the 2003 Comprehensive
Annual Financial Report (CAFR). The 2003 CAFR is prepared
utilizing a new reporting structure in accordance with Governmental
Accounting Standards Board (GASB) 34 requirements. The new
reporting structure improves operational and fiscal accountability
and introduces government-wide financial statements that provide
additional long-term focus for governmental entities. Director
Coleman directed the Committee's attention to the report's
Management Discussion and Analysis section of the report that
provides readers with a simple narrative introduction, overview and
analysis of the basic financial statements. The report also includes
expanded budgetary reporting to include the original budget and
the final amended budget.
Committee members congratulated Director Coleman and her staff
on completion of the 2003 CAFR and implementation of the new
GASB 34 reporting requirements.
VI. ADJOURNMENT
There being no further business to come before the Committee, the
meeting adjourned at 7:05 p.m.
APPROVED THE \q'+k-oAY OF JULY 2004.
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'Danielle Daskam, City Clerk
I: \cIerk\finance\fca \2004 fcm07 -06
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