February 20, 2003

Galveston Finance and Fiscal Affairs Committee 

The City of Galveston Finance and Fiscal Affairs Committee held its first meeting since it was upgraded from a mayor's committee last week.

Fred Micks, who was chair of the previous committee, was elected chair; Steve Greenberg was elected vice chair.

Membership of the group is identical with the previous group, except that Greg Roof, who teaches political economy at Alvin Community College, was added by the city council. 

"I think one of the things that I hope I can bring is expertise in the potential for forecasting our revenue," Roof said, noting that city budgets are currently based on historical sales tax information.  He suggested that merchants be polled on current sales to predict future receipts.

Chris Breaux and Lydia Cook from Null-Lairson met with the committee to discuss the 2001-2002 audit.

Micks asked why a financial statement required by state law within 120 days of the end of the fiscal year has not been presented.

Breaux and Cook explained that information has not been compiled in the workers compensation and Gulf Coast Water Authority accounts.

"I was not comfortable in trying to present everything with those things still moving and saying 'o.k. we are going to bless those numbers as presented'," said Cook.

"We are still cleaning up balances from last year's audit," explained Susan Cutchin of the finance department.  "Next year it's going to be a lot better."

"Next time I get pulled over by a policeman for not stopping at a stop sign, I will say I wasn't comfortable stopping at the stop sign," said Steve Greenberg.

However, Greenberg and other members of the committee agreed that the finance department under the direction of Rick Glassett has improved significantly.

Richard Moore expressed concerns with budget transfers by the city manager to make up for shortfalls in the city departments, without city council approval.

"Unless the council is making these decisions the pubic has no way to hold the council responsible," Moore said.

The committee will meet regularly on the third Thursday of each month.

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