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n <br />~` ` ~"~ PERSONNEL AND FINANCE COMMITTEE <br />JUNE 28, 2010 <br />Tom LaFountain, Chairperson, Personnel and Finance Committee called the meeting to <br />order at 4:17 p.m. <br />Committee Members Present: Oliver Davis, David Varner, Karen White <br />Other Council Present: Ann Puzzello, Henry Davis <br />Others Present: Rita Kopala, Gregg Zientara, Jack Dillon, Tom Price, Jeff Parrott, Mayor <br />Luecke, Gary Gilot, Aladean DeRose, Marty Wolfson, Kathleen Cekanski-Farrand <br />Agenda: Bill No. 32-10 -Transferring monies from Rainy Day Fund <br />Regarding Bill No. 32-10, City Controller Gregg Zientara explained to the Personnel and <br />Finance Committee the reasons for the transfer request. He explained ashort-fall in <br />various funds this time of year was typical. The $1,850,000 transfer would be repaid in <br />full when disbursement of property taxes was received from the State through the county. <br />The Rainy Day Fund from which the transfer was requested would have a remaining <br />balance of over $8,500,000. In response to Karen White, Aladean DeRose stated that the <br />borrowed money would have to be repaid to the same fund. Karen White then moved the <br />bill go to Council favorably. Councilmember Oliver Davis seconded and all affirmed. <br />There being no other business to come before the committee at this time, Vice- <br />Chairperson White adjourned the meeting at 4:23 p.m. <br />1 Vlll LUl VU111U111, 1.i11U11 ~./l.1JV11 <br />Personnel and Finance Committee <br />