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1 <br />1 <br />1 <br />COUNCIL WORK SESSION SEPTEMBER 19, 1991 <br />give the Council a copy of the study. <br />Mr. Neisen noted that the design of the new bank has not been <br />determined. It is planned to open in the spring in a modular <br />unit while the building is under construction. <br />Mr. Neisen invited the Council to attend a presentation for <br />potential investors scheduled for Wednesday, September 25, 1991. <br />He explained that these types of meetings and one (1) on one (1) <br />meetings with other directors will be the primary method of <br />selling stock in the new bank. <br />The Council thanked Mr. Neisen for coming this afternoon. <br />JOINT POWERS AGREEMENT WITH WHITE BEAR TOWNSHIP FOR ACCOUNTING <br />SERVICES <br />r,. <br />Mr. Schumacher gave a brief background on this matter starting <br />with the Council authorization for the financing of a finance <br />director in late 1990. He explained that because of the budget <br />cuts, a wait and see attitude was taken until recently. <br />Mr. Schumacher noted that approximately $15,000.00 per year <br />outside of the normal audit is currently being spent for <br />additional accounting services. Several examples of additional <br />expenditures were outlined. He noted that although the auditors <br />are doing a very good job, the dollars being spent could buy more <br />services with the hiring of a part time finance director. Mr. <br />Schumacher explained that the position would be for two (2) days <br />per week or about 800 hours per year. <br />Council Member Kuether explained that although $21,500.00 was <br />budgeted in 1991, she thought that this money was to be used for <br />either a finance director or another police officer. Mr. <br />Schumacher explained that the money to pay for this position was <br />coming from the balance the City now pays the auditor and the <br />budgeted $21,500.00 will not be used for this position. <br />Council Member Reinert asked about the position now held by Ms. <br />Schloer. Mr. Schumacher explained that she will remain the "lead <br />person" and her position will not change. She will not oversee <br />the new position, but will work in conjunction with the finance <br />director. Council Member Reinert asked if there would be any <br />overlapping of duties in accounting. Mr. Schumacher said no. <br />The new person will be responsible for all of the special reports <br />and preparation currently being done by the City auditor. Ms. <br />Schloer will continue to be responsible for her current duties. <br />Council Member Kuether asked who will monitor the work of this <br />new position. Mr. Schumacher explained that a monthly report <br />PAGE 2 <br />94 <br />