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Minutes for the Depository Board meeting on October 1, 2008.
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Board members City Clerk Donna Jackson, Mayor Doug Formon and City Collector Becky Sharp were in attendance. Also in attendance were interim Operations Director Allison Whitley and Finance Director Jim Barksdale.
Ms. Sharp motioned, seconded by Mayor Formon, to approve the minutes for the meeting on July 2, 2008. All voted aye.
Ms. Sharp discussed the leftover cafeteria fund money. She explained after enrolling employees in the Air Evac program there is $1,825.64 left. She suggested going back to the Employee Representative Committee for recommendations as to what to do with the rest of the money. Mayor Formon discussed an e-mail Human Resources Director Gloria Roark had received from Human Resources Director Jim Bradshaw, which noted leftover cafeteria fund money can be split up equally between the participants and credited to their account for the next year if they participate. He also stated he was not aware of the fact that only about 100 of the City’s 500 employees participate in the cafeteria plan. He explained he thought most of the employees participated in the plan. Discussion was held concerning what can be done with the leftover money. Chairwoman Jackson recommended getting a legal opinion regarding what can be done with the money. She then questioned whether it was too late to split up the money that is to be used for Air Evac. Ms. Sharp stated the money has already been paid to Air Evac. She then discussed issues with the cafeteria plan, noting some participants have complained about the amount of information that has to be provided in order to use the money in their accounts. Mayor Formon added the program changed this year. Ms. Sharp stated she will meet with City Attorney Crego to get a legal opinion about the cafeteria plan. She stated nothing will be done with the money until they’ve received the legal opinion.
Ms. Sharp then discussed the forfeiture accounts for the Pol...
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