Finance Committee Meeting Minutes

Finance Committee Meeting Minutes

Monday October 2, 2017

6:00 p.m. – City Office

Present: Harley Getzlaff, Doug Marsden, & Auditor Nostdahl.

Absent: Greg Bernstein.

Budget revisions were gone over. Changes had to be made from the Sept. 26th meeting to accommodate an adding error when we were discussing changes. Committee members were ok with the changes & the 2018 Budget will be presented for final adoption at the full meeting following this meeting. A 2.75 mill levy increase will be proposed to cover the increased cost of NDPERS.

New Federal Securities & Exchange Commission law SEC Rule 15c-2-12 (continued discloser) was presented by Nostdahl from the League of Cities convention. It pertains to bonding. Dougherty & Co. who have done our bonding sales for several years will take care of this requirement for us at a cost of appx. $400.00 per year. This was approved by the Committee & will be presented at the full meeting following this meeting.

Monthly bills/financials were reviewed.

Meeting adjourned at 6:30 p.m.