2008 0320 Regular City Commission Meeting

Home Browse Search

Summary Minutes: Regular City Commission Meeting March 20, 2008 City of Sunny Isles Beach, Florida 4. ORDER OF BUSINESS (Additions/Deletions/Amendments) 4A. Request to Hear Items: Additional Information: Item 9B, Policy to Govern Voluntary Time Extensions for Condo Developments; Item 10E, Correspondence re: Street Signs; Item 1 OJ, Alternative Health Plan Incentive Proposal; Item 10L, Scope of Work and Plan View re: 174th Street Median Improvements; Item 12D, Correspondence from MTV; Amendment: Item 10H, Revised Memo on Changing Time of Commission Meetings. Action: Mayor Edelcup noted the above changes to the agenda. 5. SPECIAL PRESENTATIONS SA. Presentation of the City of Sunny Isles Beach Audit Report for Fiscal Year 2006/2007. Action: Gerry Chioca, City Auditor, of Rachlin Cohen & Holtz presented the City of Sunny Isles Beach Audit Report for Fiscal Year 2006/2007, and said that the City is in very good financial shape. Assistant City Manager/Finance Doug Haag gave a power-point presentation of a very high level overview of the City's overall performance this past year. He said the General Fund had excellent performance as we increased our fund balance by approximately $6 Million this year to a total of $17.2 Million, which is important as we are going to transfer $5 Million of that over to the Capital Projects Fund. He stated that we show a decrease in our surplus or reserves in Capital Projects but that is actually a good thing because that means that we are starting to kick off some of the projects that we have had on the books for some time, and so the balance in that fund remains at $25.2 Million. He said the Stormwater Fund was increased by $500,000 this year, of which we are going to be funding several of our very large drainage projects, including the Central Island Drainage and Improvements Project. Mr. Chioca noted on the bottom of page 32, total budgeted final revenues of $24.1 Million, actual revenues $26.7 Million, so we had a favorable variance of$2.6 Million; page 33, total expenditures for $24.1 Million budget, we only spent $18.5 Million, and so you had another positive variance of $5.6 Million which results in the increase of the fund balance which Assistant City Manager Haag mentioned of $6 Million. Mr. Chioca said we had a very positive and good year, and he thanked Assistant City Manager/Finance Douglas Haag, Assistant Finance Director Linda Dosal, and staff for all their hard work. Mayor Edelcup noted that on page 41 of the report there have been from prior years many items that have been carried over, like taking inventory of equipment, etc., which he is pleased to see that they have now all been taken care of, and at this point we don't have any unfinished business in the accounting area. He complimented staff for taking care of that, what was a continuing problem from year to year, has now been resolved and been put behind us. He thanked Mr. Chioca for rendering the report, and said that it is good to have the professionals again confirm that we are in good health considering the economy that we find this country in today, fortunately we have been very fiscally responsible here, and we will continue to do so. He said our goal is to keep this City In continuous excellent financial health. The Audit Report was accepted, by a voice vote of 5-0 in favor. 2