Finance Committee Meeting Minutes

DATE: Wednesday, April 9, 2008
TIME: 12:00 Noon
PLACE: City Hall Council Chambers

PRESENT:
Aldermen Richard Corzine Sr., Charles Barfield, William Carrell, Jerry Mizell, David Daugherty, Nathan Anderson, David McManus and Robert Midnight, Mayor Billy McDaniel, City Clerk Brenda Westbrooks, City Bookkeeper Linda Smith, CFO Patricia Suttles, Barry Hatcher with Kemper CPA Group, Corporate Counsel Rick Abell, Joe Matesevac and Verbal Blakey.

ROLL CALL
Corzine Present
Barfield Present
Carrell Present
Midnight Absent (came in at 12:10 p.m.)

Moved by Alderman Charles Barfield and Second by Alderman Richard Corzine Sr. to approve the minutes of the previous meeting held on March 26, 2008 as presented: MOTION CARRIED
Corzine Yea
Barfield Yea
Carrell Yea
Midnight Absent






Renewal of Airport Manager Position
Jerry Caudle has managed the City’s airport for the past 20 years. It is time to renew his contract and instead of a raise he is willing to leave his salary the same for a 3 year extension of his hanger agreement, in conjunction with his airport manager’s contract, with one exception; that an electric meter be installed on the building he uses. Copy of his request attached to these minutes.
Consensus of the Committee and Councilmen present was to renew Mr. Caudles contract as he has requested.

Moved by Alderman Charles Barfield and Second by Alderman Robert Midnight to recommend to the full Council to approve a new contract with Jerry Caudle with the changes as he has requested: MOTION CARRIED
Corzine Yea
Barfield Yea
Carrell Yea
Midnight Yea

Audit Services
Barry Hatcher with Kemper CPA Group was present to discuss the City’s Auditing contract.
Kemper CPA Group had a 3 year contract that is now up. He said they would like to renew their contract with the City however the cost will increase significantly. He said that the City has a lot more going on and a lot more paper work due to the riverboat and the many projects they have going on. The City has added more accounts and there have been a lot more auditing standards put in place that they have to do.
Mr. Hatcher said he realized the last audit was not timely and he suggested a provision be put in their contract that they have to provide a draft by September 30th or they will be subject to penalties. They would also have to issue a statement within 2 weeks after receiving the draft back.
Alderman Corzine Sr. thanked Mr. Hatcher and said that the Committee will take this all in consideration and make a recommendation as soon as possible.
Mr. Hatcher thanked the Aldermen for their time and left the meeting.

Tricia Suttles said she expects Kemper CPA Group cost to do the City’s audit if renewed will at least double.
The consensus of the Council present was that we should do RFPs for our auditing services and specify in the contract deadlines for completion and penalty clause if they do not comply.
Tricia Suttles said she would work on the request for proposals.

Moved by Alderman William Carrell and Second by Alderman Richard Corzine Sr. to go into Executive Session for reasons listed on the agenda: MOTION CARRIED – TIME: 12:22 P.M.
Corzine Yea
Barfield Yea
Carrell Yea
Midnight Yea


Around 2:50 p.m. the meeting was called back to order in open session.

Moved by Alderman Richard Corzine Sr. and Second by Alderman Charles Barfield to approve the minutes of the Executive Session: MOTION CARRIED
Corzine Yea
Barfield Yea
Carrell Yea
Midnight Yea




Moved by Alderman Richard Corzine Sr. and Second by Alderman Robert Midnight to adjourn: MOTION CARRIED – TIME: 2:52
Corzine Yea
Barfield Yea
Carrell Yea
Midnight Yea







DATE: Wednesday, March 26, 2008
TIME: 1:00 p.m.
PLACE: City Hall Council Chambers

PRESENT:
Alderman Richard Corzine Sr., Charles Barfield, Robert Midnight, David Daugherty, Jerry Mizell, Nathan Anderson and David McManus with Alderman William Carrell absent. Also present were Mayor Billy McDaniel, Corporate Counsel Rick Abell, CFO Patricia Suttles, Brian Giltner, and City Clerk Brenda Westbrooks.

Moved by Alderman Charles Barfield and Second by Alderman Robert Midnight to approve the minutes of the previous meetings held on January 31, 2008 and February 13, 2008 as presented: MOTION CARRIED
Corzine Yea
Barfield Yea
Carrell Absent
Midnight Yea

Old United Cities Gas Building
Brian Giltner told the committee that Tetra Tech did find some hazardous materials during their inspection of the building and has estimated a cost of a little less than $23,000 for the asbestos abatement.
Brian said that regarding the common wall issue he has been talking with experts that deal with the demolition of buildings with common walls and he estimates it to cost over a quarter of a million dollars to get the building torn down.
Brian told the committee that the building really isn’t in that bad of shape and could be fixed. A new roof is needed and some inside repairs. The consensus of the committee was to have the building roofed and repaired then have Andy Clarke see if there is a business that can us and would want the building.

Moved by Alderman Robert Midnight and Second by Alderman Charles Barfield to go into Executive Session for reasons listed on the agenda: MOTION CARRIED – TIME: 1:20 P.M.
Corzine Yea
Barfield Yea
Carrell Absent
Midnight Yea

2:50 p.m. the meeting was called back to order in open session.

Moved by Alderman Richard Corzine Sr. and Second by Alderman Charles Barfield to approve the minutes of the Executive Session: MOTION CARRIED
Corzine Yea
Barfield Yea
Carrell Absent
Midnight Yea

Signage- (New Community Center & Old Production Press Buildings)
Mayor Billy McDaniel reported that the new signage for both of these buildings would cost around $4,000.
The consensus of the Committee was for the Mayor to go ahead and have the signage done and they would approve the bills when they come through.

Moved by Alderman Richard Corzine Sr. and Second by Alderman Charles Barfield to adjourn: MOTION CARRIED – TIME: 2:51 P.M.
Corzine Yea
Barfield Yea
Carrell Absent
Midnight Yea





DATE: Wednesday, February 13, 2008
TIME: 12:00 Noon
PLACE: City Hall Council Chambers

PRESENT:
Aldermen Richard Corzine Sr., Charles Barfield, William Carrell, Robert Midnight, David Daugherty, Jerry Mizell, Nathan Anderson and David McManus, Mayor Billy McDaniel, Corporate Counsel Rick Abell, City Clerk Brenda Westbrooks, CFO Patricia Suttles, Bookkeeper Linda Smith, and Barry Hatcher with Kemper CPA Group.

ROLL CALL
Corzine Present
Barfield Present
Carrell Present
Midnight Present


Audited Financial Statements for fiscal Year ending June 30, 2007
Mr. Barry Hatcher with Kemper CPA Group was present to go over the City’s Audit report his firm did for the City. He went over the Management Letter and Schedule of Findings with everyone present.
Everyone was given a copy of these items as well as a memo from CFO Patricia Suttles regarding the items.
Two of Mr. Hatcher’s main comments were that the City remains in strong financial condition and that at some point the City would need to look at increasing the water and sewer funds that they are presently subsidizing.
No action taken at this time.



Abate Tax Levy for Bond Issue
Mr. Abell reminded the Councilmen that when the City did the bond issue they said they didn’t want all city tax payers to have to pay the tax so to keep that from happening we have to abate the tax levy.
CFO Patricia Suttles said that the City does have the money set aside for the payments.

Moved by Alderman Robert Midnight and Second by Alderman Charles Barfield to recommend to the full Council to abate tax levy for bond Issue: MOTION CARRIED
Corzine Yea
Barfield Yea
Carrell Yea
Midnight Yea


Moved by Alderman Robert Midnight and Second by Alderman Charles Barfield to adjourn: MOTION CARRIED – TIME: 1:16 P.M.
Corzine Yea
Barfield Yea
Carrell Yea
Midnight Yea