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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. 4�h 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 ezecute the Interim City <br /> Administrator Employment Agreement. VOTE: Ayes 5,Nays 0. <br /> *15. LICENSES/PERMITS <br /> None <br /> *16. CLAIMSBILLS <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 />