HomeMy WebLinkAboutFinance 03-21-2000 ST. CROIX COUNTY
NOTICE OF COMMITTEE MEETING
TO: Chairman Thomas Dorsey
St . Croix County Board
FROM: Vice Chair Robert Boche
COMMITTEE TITLE: Finance
DATE: March 21 , 2000
TIME: 8 : 30 A.M.
LOCATION: Government Center
CALL TO ORDER
ROLL CALL
ADOPTION OF AGENDA
DATE OF NEXT MEETING: April 10, 2000
ACTION ON PREVIOUS MINUTES
UNFINISHED BUSINESS:
NEW BUSINESS:
1. Selection of Section 125 PlanjAdministrator
P.
ANNOUNCEMENTS & CORRESPONDENCES;
POSSIBLE AGENDA ITEMS FOR NEXT MEETING:
ADJOURNMENT
(Agenda not necessarily presented in this order)
SUBMITTED BY: Robert Boche
DATE: March 6 , 2000
COPIES TO: County Clerk
News Media/Notice Board
Committee Members
ST. CROIX COUNTY
NOTICE OF COMMITTEE MEETING
TO: Chairman Thomas Dorsey
St . Croix County Board
FROM: Vice Chair Robert Boche
COMMITTEE TITLE: Finance
DATE: March 21 , 2000
TIME: 8 : 15 A.M.
LOCATION: Government Center
CALL TO ORDER
ROLL CALL
ADOPTION OF AGENDA
DATE OF NEXT MEETING: April 10 , 2000
ACTION ON PREVIOUS MINUTES
UNFINISHED BUSINESS:
NEW BUSINESS:
1 . Selection of Section 125 Plan7Administrator
ANNOUNCEMENTS & CORRESPONDENCE
POSSIBLE AGENDA ITEMS FOR NEXT MEETING:
ADJOURNMENT
(Agenda not necessarily presented in this order)
SUBMITTED BY: Robert Boche
DATE: March 6 , 2000
COPIES TO: County Clerk
News Media/Notice Board
Committee Members
X
MINUTES of the ST. CROIX COUNTY FINANCE COMMITTEE
Meeting of March 21, 2000
The meeting was called to order by Herb Giese at 8:30 A.M.
Roll call was taken with Giese, Tom Dorsey and Art Jacobson in attendance. Mr. Jacobson was in attendance to
fill a quorum for the committee. Administrative Coordinator Don Brown, Corporation Counsel Greg
Timmerman, Finance Director Rich Loney and Board members Leon Berenschot, John Mortensen, Jack Dowd
and Dick King also sat in for all or a portion of the meeting.
A motion was made by Dorsey, seconded by Jacobson, to adopt the agenda. Motion carried.
Giese noted that the next meeting is scheduled for Monday, April 1 Otn
Minutes of the previous meeting will be held for consideration of approval at the meeting of April 10th
Brown reviewed the request for proposals published for administration of the Internal Revenue Service (IRS)
Section#125 (flexible spending)plan. The County Board as part of the compensation package approved at the
December 1999 meeting authorized this for non-represented personnel. This plan allows employees to set aside
pre-tax earnings for payment of non-reimbursed medical expenses, employee share of health insurance
premiums and childcare costs. Also, the money set aside is not taxed for Social Security purposes, either
employee or employer share.
Brown said that three responses had been received, these from the Sandeen Agency, J.A. Counter and
Associates and Administration Resource and Consulting. The Committee selected the proposal submitted by
Administration Resources and Consulting at the base cost of$3.75 per month per participant. Brown noted that
it is anticipated that the plan will pay for itself through the employer FICA savings. Various other provisions of
the plan were discussed by the Committee, including the possibility of forfeiture of monies set aside by
employees and not used during the time frame specified by the IRS. The proposal also includes provisions for
federal filings, non-discrimination determination, legal review and employee education. The recommendation
is based on ease of understanding the proposal, it's comprehensive nature and cost.
Giese commented that the Committee should defer a decision on how to best use any money that may remain
after savings, possible forfeitures and costs are taken into consideration until after these are known.
After further discussion, a motion was made by Dorsey, seconded by Jacobson, to approve the recommendation.
Motion carried.
A motion was made by Jacobson, seconded by Dorsey, to adjourn at 8:45 A.M. Motion carried.
Richard Loney
Recording Secretary