5.9.
CC Regular Session
- Meeting Date:
- 03/08/2011
- By:
- Diana Lund, Finance
Title:
Report From Finance Committee of February 22, 2011
Background:
Two cases were presented to the Finance Committee:
Case #1 Consider Contract for Agent of Record for Property, Casualty, and Workers Compensation Insurance.
Staff reviewed that the city has been contracting with Bearence Management Group (formerly T.C. Field & Company) since 1997 for agent of record services for property, casualty, and workers compensation insurance. The city is currently paying $5,800 for these services. Staff discussed the proposed two-year contract with the city's agent asking for $6,000 in 2012 and $6,200 in 2013. In comparison, neighboring cities are paying from $10,000 to $24,000 for the same services.
The Finance Committee made the recommendation that the City Council authorize the agent of records contract for two years in the amounts of $6,000 for 2012 and $6,200 in 2013.
Case #2 Credit Card Analysis
Staff reviewed the credit card process and respective fees involved. The Finance Committee was in agreement to bring forward to a later worksession for discussion with the entire council. A worksession on credit cards with eligible vendors and the city's utility billing company has been scheduled for March 22, 2011.
Recommendation:
Ratify the recommendations of the Finance Committee.
Council Action:
Ratify the recommendations of the Finance Committtee.
Attachments
- Resolution Authorizing Bearence Management Group Agent of Record
- Finance Committee Agenda of February 22, 2011
Form Review
| Inbox | Reviewed By | Date |
|---|---|---|
| Kurt Ulrich | Kurt Ulrich | 03/02/2011 04:01 PM |
- Form Started By:
- Diana Lund
- Started On:
- 02/28/2011 06:53 AM
- Final Approval Date:
- 03/02/2011