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,. 7 <br /> Motion to accept rules of operations name as reconunended by: Jim Morgan <br /> Motion seconded by: Steve Cashman <br /> Adopted: 210 <br /> Charter <br /> Discussion centered on the need to state the purpose of the sub 'tree. Much h i rade <br /> for the need for such a conunittee. The subconunittee offers fair review, approval and <br /> adoption the following charter statement to the finance committee: <br /> Ah actions, recornendations and propoW are to be accomplished by the <br /> subconmittee as a way to enhance to the budget review process for the finance <br /> cone ittee. Any change recommended should be for the express purpose of <br /> stye g, eliminating redundancy and increasing the existing budget process <br /> responsiveness to the finance committee needs. Change should not be <br /> accurnplished jus t for the sale off`change. <br /> Motion to accept rules of Subcommittee Charter as <br /> Recommended Jim Morgan <br /> Motion seconded by: Steve Cashman <br /> Adopted: 210 <br /> Budget Review Position Paper: <br /> inn Morgan offered for consideration a position paper titled, Establishing Annual <br /> Budgets using a Fret Financial flan. Discussion centered on the tic in using Mort-range <br /> reeds (1-2 Years) and long tern goals (3-5 years). Steve Cashman suggested that the <br /> annual CIP process results should also be incorporated into the paper. ,After considerable <br /> discussion, a revised draft document is offered to the full finance c nuni tee for view <br /> and approval. The&aft document is titled: Establishing Annual Budgets using <br /> Target Financial Plan, and is attachment I to this document. <br /> Motion to accept paper with changes reconnended b : Steve Cashman <br /> Motion seconded by: Jim Morgan � <br /> Adopted: 210 <br />