FINANCE AND COMMUNITY DEVELOPMENT COMMITTEE
July 25, 2008
Attendance: Mary Lou Parker, Ralph Jacobs, Jane Billings, Philip Jefferson (chair).
1. Public Comment
There was no public comment.
2. Approval of Finance Committee Minutes of April 25, 2008
The chair moved that the minutes be approved. Mr. Jacobs seconded the motion. The vote was
unanimous.
3. Review of letters to non-profits that receive Borough funding
• Expectations for compliance: The committee concluded that it would be prudent to articulate a series of
time-based checkpoints for compliance. These checkpoints should be construed as aids for compliance
by organizations requesting funding from Council.
• Standards for continued funding: The committee concluded that it would be appropriate for Council to
take into consideration an organization’s fund balance when considering its funding request. No specific
percentage or amount of cash balances was determined to be a cut off for funding from Council.
Organizations with significant and sustained cash balances will be encouraged to specify their plans for
their accumulations.
4. Long-term capital planning: The committee discussed practical and equity issues related to capital
budgeting. In preparation for the August meeting, Mr. Jacobs will be in dialogue with the representatives
from the Fire Department. Representatives from the Fire Department will be invited to the August
meeting of the Finance Committee. Council seeks to partner with them in planning for the next major
vehicle purchase.