FINANCE COMMITTEE MINUTES

 

JUNE 15, 2005

 

 

The meeting was called to order by Chairman Fogt at 5:30 p.m.

 

MEMBERS PRESENT:  Dan Fogt, Ed Pleasant, Nevin Taylor

 

OTHERS PRESENT:  John Morehart

 

AGENDA:

 

1.     2005 Status of Scotts. Co. Asset Based Investment & Employment Agreement

 

John Morehart explained that the City owes Scotts $11,048 due to the Agreement when Scotts moved jobs back to the Marysville Corporate Office from downtown Columbus.  Evidently, the salaries and bonuses for the people involved were higher than expected, so a larger rebate is to be returned to Scotts.  This will be on City Council agenda.

 

2.     Rt. 33 Overpass Slippage

 

Inspections have been done by Joe Tracey, City Engineer Phil Roush and others.  They see the need to hire engineering firm to evaluate the area and see exactly what it would take to correct the slippage which has occurred at the Rt. 36 interchange on all four corners and on the north part of the overpass at Rt. 33 and Northwest Parkway (west of the Cemetery).  This will be on City Council agenda.

 

3.     Sewer Rate Feasibility Study.

 

This item postponed until the study is completed.

 

4.     Investment Policy

 

The wording needs to be updated to clarify the Investment Policy.  No major changes are proposed.  No high-risk investments are to be done.  This will be on City Council agenda.

 

5.     5-year Capital Plan

 

The original document was presented to the Public Services Committee on 6/13/05.  Changes were proposed and the updated Plan was presented to the Finance Committee.  Mr. Taylor observed several typographical errors and incorrect numbers.  Some of the Line Items contained no dollars, and it was suggested that those line items be taken completely out.  The Committee did not vote to approve or disapprove the Plan.  There are still some expenses listed which are not agreed to by all Committee members.

 

Meeting adjourned.