Foreign Fire Insurance Tax Board

Foreign Fire Insurance Tax Board Minutes of June 5, 2015 Members present: Jason Pavlak, Joe Wempe, Wade Schneck, Bill Lynch Eric Hicks, and Jared Thorp Members absent: Zak Prielipp Other Present: Traci Lemay, Recording Secretary Call To Order The meeting was called to order at 8:15 a.m. Announcements None New Business Monthly Reports A Motion was made by Jared Thorp to take an omnibus vote and approve the following items in Omnibus form:  Financial Reports and Transactions for the 1st Quarter of 2015  Monthly Budget Reports for the 1st Quarter of 2015  Minutes of the February 20, 2015 Regular Meeting  Authorize the payment of the quarterly bills for the 4th Quarter listed on the Invoice Transaction List Said Motion was seconded by Wade Schneck and unanimously approved by the Board by roll call. Purchasing Policies and Procedures The Foreign Fire Insurance Tax Board will now be paying bills from its own checking account and not through the City of DeKalb. After much discussion, it was determined that a folder will be placed in the budget file cabinet to house the Foreign Fire transactions. Inside this folder will be several sub-folders:  Authorization form folder – will house blank Purchasing Authorization Forms  Purchasing folder – will house pending quotes, invoices, and bills. Each will be stapled to an authorization form  Bank Statements  Paid Invoices and bills – each payment will require two (2) signatures for authorization A Motion was made by Wade Schneck to approve the above form and procedures. Said Motion was seconded by Bill Lynch and unanimously approved by the Board by roll call. By-Laws With the change in financial procedures for the Board, it was recommended that the By-Laws be changed to reflect:  Article 1 – Add gender language  Article 10 – change funds from account held by City of DeKalb to account held by Board  Article 11 - New fiscal year (November 1 through October 31)  Article 11 – change budget approval to November meeting  Article 12 – Remove expenditures made through City of DeKalb and add: o Purchase form procedures o Prepare and send detailed list of expenses and revenue with backup documentation to City of DeKalb Finance Department for audit purposes A Motion was made by Bill Lynch to approve By-Law changes as detailed above. Said Motion was seconded by Joe Wempe and unanimously approved by the Board by roll call. Request for Purchase A Motion was made by Bill Lynch to approve the purchase of a new stove that does not exceed $500.00. Said Motion was approved by majority through roll call. The only descent was Eric Hicks. Old Business Review of Purchases Approved items remaining to be purchased are:  Foam rollers  Screw driver set  Chairs Adjournment The next Regular Board meeting will be August 28, 2015 at 8:00 a.m. A Motion was made by Joe Wempe to adjourn. Said Motion was seconded by Jared Thorp and approved unanimously by the Board. The meeting adjourned at 8:52 a.m.