Board of Commissioners Special Workshop Meeting

THE CITY OF MADEIRA BEACH, FLORIDA PUBLIC NOTICE BOARD OF COMMISSIONERS SPECIAL WORKSHOP MEETING The Board of Commissioners of the City of Madeira Beach, Florida will meet at City Hall, located at 300 Municipal Drive, Madeira Beach, Florida to discuss the agenda items of City Business listed at the time indicated below. 3:00 PM, or immediately following Special Meeting JULY 1, 2015 AUDITORIUM *PLEASE NOTE CHANGE IN REGULAR MEETING TIME A. CALL TO ORDER - The meeting was called to order at 3:05 p.m. B. ROLLCALL MEMBERS PRESENT: Travis Palladeno, Mayor Elaine Poe, Vice-Mayor Terry Lister, Commissioner District 1 Nancy Hodges, Commissioner District 2 Patricia Shontz, Commissioner District 4 STAFF PRESENT: Shane B. Crawford, City Manager (CM) Thomas Trask, City Attorney (CA) Aimee Servedio, City Clerk (CC) Vince Tenaglia, Assistant City Manager/Finance Director (ACM/FD) Dave Marsicano, Public Works/Marina Director (PW/MD) C. TOPICS 1. PRESENTATION ON FINANCE AND BUDGET POLICIES Vincent M. Tenaglia, Assistant City Manager/Finance Director ACM/FD: Has been working with PFM to find some of the best practices and incorporate them into what works best with the City. He will present five items today for the Board to take home and closely consider. The following are the first to be presented: (1) Adoption Financial Policies, (2) Determining the Appropriate Level of Unrestricted Fund Balance in the General Fund, (3) Replenishing General Fund Balance, (4) Creating an Investment Policy, and (S) Diversifying the Investment Portfolio. After the Board has had some time to read over and consider these best practices, a representative from PFM will make a presentation with the ACM/FD to answer any questions and adjust the policies as the Board sees fit. The first policies will be approved and effective by the start of the FY2016 fiscal year. Consensus was for the Board to consider all of the best practices information given to them by the ACM/FD and to prepare for the a future Workshop with the PFM representative. [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 07/01/2015 BOC Special Workshop Meeting Page 1 12 D. ADJOURNMENT - The meeting was adjourned at 3:24 p.m. Date Approved: August 11. 2015 Travis Palladeno, MAYOR Submitted by Aimee Servedio, CITY CLERK 07/01/2015 BOC Special Workshop Meeting Page 2 12