05-27-97 Personnel & Finance - Laserfiche WebLink

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atomm f tttt 2-sport: Personnel and Finance Committee �Go tbt tOtl mot COUttufl of Os tf ti of *o utb Otttb: The May 27, 1997 meeting of the Personnel and Finance Committee was called to order by its Chairperson, Council Member Sean Coleman at 4:45 p.m. in the council informal meeting room. Persons in attendance included Council Members: Aranowski, Pfeifer, Kelly, Broden, Varner, Ujdak, Coleman,Hosinski, Sniadecki; Cathy Roemer City Controller, and Kathy Cekanski-Farrand. Council Member Coleman noted that the first item on the agenda was to review Bill No. 42-97 which would establish a cumulative capital development fund. Cathy Roemer made the presentation. She stated that the ordinance would re-establish the fund which is required to be established every three years. She noted that it is requested to be established at a higher level. 12 cents raises approximately $750,000. The proposed ordinance is recommending 15 cents beginning in 1998 through the year 2000. The types of equipment which could be purchased would be safety equipment and public works matters as detailed in section one of the proposed ordinance. Mrs. Roemer noted that 15 cents is recommended in light of the fact of COLT being in place. It is anticipated that approximately$900,000 in revenue would be generated. Dr.Varner voiced concern with regard to the establishment of this rate since it could not be encumbered. Following discussion, Council Member Aranowski made a motion seconded by Council Member Sniadecki that Bill No. 42-97 be recommended favorably to Council. The motion passed by a 3-1 vote with Dr. Varner voting in the minority. Dr. Varner noted that he would like to have the fund lapse. There being no further business to come before the Committee,the meeting was adjourned at 4:55 p.m. Respectfully submitted, Council Member Sean Coleman,Chairperson Personnel and Finance Committee Attachments •