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MINUTES OF THE <br />ORONO CITY COUNCIL MEETING <br />Monday, February 27, 2017 <br />7:00 o'clock p.m. <br />13. 4t'' QUARTER FINANCIAL REPORT (continued) <br />Olson stated Council Member Printup requested some information on vendor payments. During 2016, <br />711 different vendors are paid, with some of those being election judges. Overall the City paid out $9.7 <br />million. The top 20 vendors consisted of 69 percent of all the expenditures or $6.665 million. Olson <br />displayed a listing of the top 20 vendors and noted the $900,000 was actually security on a development. <br />The developer wanted to provide the City with cash instead of obtaining a letter of credit. <br />Seals asked what the Bond Trust and US Bank Wire are. <br />Olson stated the Bond Trust Services Corp. would be the 2014 bonds, which were water, police, garage, <br />and a refunding of the Big Island bonds. Olson stated he cannot recall what the 2010 bonds were for but <br />that he can email that information to the Council. Olson stated he will also email the vendor information <br />to the Council. <br />Reeder asked what the City's budget surplus was in 2016. <br />Olson stated it was approximately $650,000. <br />Walsh stated the City is going to be able to complete some road improvements this year with that money <br />and that they will be in a good position for 2018. <br />The City Council took no formal action on this item. <br />*14. INTERIM CITY ADMINISTRATOR EMPLOYEE AGREEMENT <br />Printup moved, Seals seconded, to authorize the Mayor and City Clerk to execute the Interim City <br />Administrator Employment Agreement. VOTE: Ayes 5, Nays 0. <br />*15. LICENSES/PERMITS <br />None <br />*16. CLAIMS/BILLS <br />Printup moved, Seals seconded, to approve payment of the All Funds Account. VOTE: Ayes 5, <br />Nays 0. <br />CITY ATTORNEY'S REPORT <br />Mattick stated he had nothing to report. <br />Page 22 of 23 <br />