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    Finance Committee
          July 18th, 2012
     Meeting Minutes


Attendees: Joe Maurer, Chair, Jonathan Slain, Committee, Bernice Schreiber, Fiscal Officer, Wendy Gillund, Council, Christine Comstock, Council, Kathleen Hale, Council,

Meeting Called to Order at 6:00PM

Accounts Payable
The accounts payable listing was reviewed and approved for payment.  Several questions were presented and satisfactory answers were provided by the fiscal officer.

Review of June Financial Statements

The Financial Statement review indicates that revenues were in line with overall budgeted revenues for the year.  This was due principally to an Estate Tax receipt of $128,000.   Actual RITA revenues were $50,000 less than Budget and $125,000 less than last year.    
Expenses were generally in line with budget.  We have enjoyed a $20,000 decrease in our insurance premium due to the settlement of various lawsuits. 

Other Items
The health insurance program renewal was discussed in great detail.  Bernice passed out an analysis that was the basis of the discussion.  Recommendation by the Mayor, Jonathan and Bernice was to remain with Medical Mutual through our current broker.
Wendy questioned and found erroneous assumptions in the analysis when compared to the County Program.  Decision was make to place the ordinance on first reading and to analyze further.       

Meeting adjourned at 6.55PM


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