Minutes CFAB 12/13/2011MINUTES FROM REGULAR SESSION CITIZENS FINANCIAL ADVISORY BOARD MEETING
FOR THE TOWN OF TROPHY CLUB
LOCATION: 100 MUNICIPAL DRIVE, TROPHY CLUB, TEXAS
Tuesday, December 13, 2011 at 6:00 P.M.
Svore Municipal Building Boardroom
The Citizens Financial Advisory Board of the Town of Trophy Club, Texas, met in Regular Session on
Tuesday, December 13, 2011. The meeting was held within the boundaries of the Town and was open to
the public.
STATE OF TEXAS §
COUNTY OF DENTON §
BOARD MEMBERS PRESENT:
Michael Buck President
Jim Hase Board Member
Bob Hill Board Member
BOARD MEMBERS ABSENT:
Amanda McGough Vice President
Kathy Carlton Secretary
STAFF AND GUEST(S) PRESENT:
Mike Slye Town Manager
Eric Cannon Finance Director
Bill Rose Council Member
President Buck announced the date of December 13, 2011, called the meeting to order and announced a
quorum at 6:03 p.m.
CITIZEN PRESENTATIONS
Citizens are allowed three (3) minutes to address the Board regarding an item over which the Board has
policy or oversight authority as provided by Texas law, the ethics order, or other policy order.
No citizen presentations were made.
REGULAR SESSION
1. Staff presentation of sales tax funded organizational structure; structure options and steps
required for compliance; discussion of same.
Staff presented sales tax funded organizational structure and addressed questions from the Board.
2. Consider and take appropriate action regarding the Minutes dated August 22, 2011.
Motion made by Director Buck, seconded by Director Hase to approve the August 22, 2011 minutes as
presented. Motion carried unanimously.
3. Board Comments and Discussion.
Board discussed short-term timeline to address a local option election for the purpose of bringing
'cleaning up' and bringing clarity to the Economic Development effort in Trophy Club. They agree to meet
much more frequently with a goal of having a recommendation for Council by the February 20th Council
meeting asking the Council to call a local option election in May 2012 to reallocate the town's sales tax
distribution.
4. Set next meeting date.
The Board set January 6, 2012, 4:00 p.m. as the next meeting date.
ADJOURN
Meeting our d at 7:33 p.m.
zM`_ich_aeT_Kd'C_R, President Kathy CarltorV Secretary
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CFAB December 13, 2011 Minutes Page 2 of 2