Finance Committee

City of Annapolis 160 Duke Of Gloucester Street Annapolis, MD 21401 Standing Committee Meeting Minutes - Final Wednesday, September 3, 2025 10:30 AM Regular Meeting Mayor John T. Chambers, Jr. City Council Chambers Finance Committee Finance Committee Standing Committee Meeting September 3, 2025 Minutes - Final Call To Order Alderman Huntley called the Regular Meeting to order at 10:35 am. Roll Call Present: 3- Alderwoman Finlayson, Alderwoman O'Neill and Alderman Huntley Approval of Agenda (any changes to the agenda should be made here) Alderwoman Finlayson moved to approve the Regular Meeting agenda. Seconded. CARRIED on voice vote. Business and Miscellaneous Approval of Minutes FC 7.16.25 Regular Meeting Minutes Attachments: FC 7.16.25 Alderwoman O'Neill moved to approve FC 7.16.25. Seconded. CARRIED on voice vote. Supplemental Appropriations SA-3-26 Grant - APD - Maryland’s Governor's Office of Crime & Policy Attachments: SA-3-26 Captain for Administrative Services Miguez was present to answer questions from the committee. Alderwoman Finlayson moved to recommend SA-3-26 favorably. Seconded. CARRIED on voice vote. SA-4-26 Capital - Department of Transportation - Capital Reserve Attachments: SA-4-26 Director of Finance Moran was present to answer questions from the committee. Alderwoman O'Neill requested an analysis of CIP projects that SA-4-26 can be transferred to. Alderwoman Finlayson moved to recommend SA-4-26 favorably. Seconded. CARRIED on voice vote. City of Annapolis Page 2 Finance Committee Standing Committee Meeting September 3, 2025 Minutes - Final SA-5-26 Grant - Fire - DSCI: Maryland Department of Service & Civic Innovation Attachments: SA-5-26 Chief of Fire Remaley and Fire Administrative Specialist Coughlin were present to answer questions from the committee. Alderwoman Finlayson moved to recommend SA-5-26 favorably. Seconded. CARRIED on voice vote. SA-6-26 General - City Council - Reserve for One Time Uses Attachments: SA-6-26 Director of Finance Moran was present to answer questions from the committee. Alderwoman Finlayson moved to recommend SA-6-26 favorably. Seconded. CARRIED on voice vote. Yay- Alderwoman Finlayson, Alderwoman O'Neill Nay - Alderman Huntley Legislation O-12-25 Prioritizing Affordable Spending Through Expansion of Financial Advisory Commission Duties For the purpose of listing the duties of the Financial Advisory Commission; adding "spending affordability" to review the City's finances so that spending levels align with the City's income, and reviewing projected revenue, debt levels, and long-term fiscal outlook; and generally related to the Financial Advisory Commission. Sponsors: Arnett Attachments: O-12-25 First Reader O-12-25 Legislative Summary O-12-25 Fiscal Impact Note O-12-25 Staff Report updated O-14-25 Staffing Impact Report updated No action taken. City of Annapolis Page 3 Finance Committee Standing Committee Meeting September 3, 2025 Minutes - Final O-31-25 Issuance of General Obligation Bonds and Bond Anticipation Notes For the purpose of authorizing and empowering the City of Annapolis (the “City”) to issue and sell, upon its full faith and credit, (i) one or more series of its general obligation bonds in the aggregate principal amount not to exceed $73,561,499 (the “Bonds”), pursuant to Sections 19-301 through 19-309, inclusive, of the Local Government Article of the Annotated Code of Maryland, as amended, and Article VII, Section 11 of the Charter of the City of Annapolis, as amended (the “Charter”), (ii) one or more series of its general obligation bond anticipation notes in anticipation of the issuance of the Bonds in the maximum aggregate principal amount equal to the maximum aggregate principal amount of the Bonds (the “Notes”), pursuant to Sections 19-211 through 19-221, inclusive, of the Local Government Article of the Annotated Code of Maryland, as amended, and the Charter and (iii) one or more series of its general obligation bonds to refund specified bonds previously issued by the City in the aggregate principal amount not to exceed 120% of the principal amount of bonds to be refunded (the “Refunding Bonds”), pursuant to Section 19-207 and Sections 19-301 through 19-309, inclusive, of the Local Government Article of the Annotated Code of Maryland, as amended, and the Charter; providing that the Bonds, Notes and Refunding Bonds shall be issued and sold for the public purpose of financing and refinancing certain capital projects of the City as provided in this Ordinance; prescribing the form and tenor of the Bonds, Notes and Refunding Bonds; providing for the method of sale of the Bonds, Notes and Refunding Bonds and other matters relating to the issuance and sale thereof; providing for the disbursement of the proceeds of the Bonds, Notes and Refunding Bonds; covenanting to levy and collect all taxes necessary to provide for the payment of the principal of and interest on the Bonds, Notes and Refunding Bonds; and generally providing for and determining various matters relating to the issuance, sale and delivery of the Bonds, Notes and Refunding Bonds. Sponsors: Buckley Attachments: O-31-25 First Reader O-31-25 FY26 Bond Ordinance Exhibit I O-31-25 FY26 Bond Ordinance Exhibit II O-31-25 Fiscal Impact Note & Staff Report O-31-25 Staffing Impact Report O-31-25 Financial Advisory Commission (FAC) Recommendations Director of Finance Moran, Director of Public Works Vogel and Budget Manger Trudeau were present to answer questions from the committee. Alderwoman Finlayson moved to recommend O-31-25 favorably. Seconded. CARRIED on voice vote. City of Annapolis Page 4 Finance Committee Standing Committee Meeting September 3, 2025 Minutes - Final General Discussion ID-18-25 Finance Department Update Attachments: FD Report to Fin Comm 1-8-25 FD Report to Fin Comm 1-22-25 FD Report to Fin Comm 2-19-25 FD Report to Fin Comm 2-26-25 FD Report to Fin Comm 3-19-25 FD Report to Fin Comm 9-3-25 Director of Finance Moran was present to answer questions from the committee. Adjournment Upon motion duly made, seconded and adopted, the Special Meeting was adjourned at 12:00 pm. Kalyn Jackson City Council Associate Anyone needing reasonable accommodation to be able to participate in a public meeting held by the City of Annapolis should contact Kalyn Jackson at 410.263.7030, by MD Relay (711), or by email at kajackson@annapolis.gov at least five days prior to the meeting date to request assistance. We encourage citizens to attend and participate in City Council Meetings. If you are unable to attend, the meetings can be viewed live on Channel 99/100 for all Comcast subscribers and on Channel 34 for Verizon customers. The meeting can also be viewed on computer and mobile devices by going to http://bit.ly/1gCd4pL, and on Facebook by selecting: http://www.facebook.com/CityofAnnapolis and on Youtube by selecting: http://www.youtube.com/CityofAnnapolis during the meetings. If you miss the live meeting, recordings are available for viewing on http://www.facebook.com/CityofAnnapolis and http://www.youtube.com/CityofAnnapolis. City of Annapolis Page 5