Finance Committee Meeting

Finance Committee Meeting Commission Chamber - 3/10/2020 ATTENDANCE: Present: Hon. Hardie Davis, Jr., Mayor; Fennoy, Chairman; D. Williams, Vice Chairman; M. Williams, member. Absent: Hon. Frantom, member. FINANCE 1. Request to approve month to month agreement for WC TPA services for the Item month of February 2020. Action: Approved Motions Motion Motion Motion Made By Seconded By Type Text Result Motion to Commissioner Commissioner Approve Passes approve. Marion Williams Dennis Williams 2. Update from Finance Dept. regarding Link Deposit Funds. (Requested by Item Commissioner Marion Williams) Action: Approved Motions Motion Motion Motion Text Made By Seconded By Type Result Motion to approve receiving this item Commissioner Commissioner Approve Passes as information. Dennis Williams Marion Williams Motion Passes 3-0. 3. Motion to approve the minutes of the Finance Committee held on February Item 25, 2020. Action: Approved Motions  Motion Motion Made By Seconded By Motion Type Text Result Motion to Commissioner Commissioner Approve Passes approve. Dennis Williams Marion Williams 4. Request approval to transfer funds from salary line item 101021112/5111110 Item to 101021112/5239112 to continue to contract labor line; once the employee Action: returns from worker’s compensation leave funds will be returned to salary line Approved item. Motions Motion Motion Motion Text Made By Seconded By Type Result Motion to approve. Commissioner Commissioner Approve Passes Motion Passes Dennis Williams William Fennoy 3-0. 5. Receive updated 2019 report from Finance Dept. regarding overtime payouts Item for employees in the Augusta Utilities Department in accordance with Action: Commission's direction at the March 3 Commission meeting. (Requested by Approved Commissioner Marion Williams) Motions Motion Motion Motion Text Made By Seconded By Type Result Motion to approve receiving this item Commissioner Commissioner Approve Passes as information. Dennis Williams William Fennoy Motion Passes 3-0. www.augustaga.gov  Finance Committee Meeting 3/10/2020 1:05 PM Attendance 3/10/20 Department: Presenter: Caption: Background: Analysis: Financial Impact: Alternatives: Recommendation: Funds are Available in the Following Accounts: REVIEWED AND APPROVED BY:  Finance Committee Meeting 3/10/2020 1:05 PM Approve Month to Month agreement for WC TP'A Department: Finance- Risk Managment Presenter: Joe Crozier Caption: Request to approve month to month agreement for WC TPA services for the month of February 2020. Background: Workers Compensation Third Party Administrator contract was approved February 18, 2020. The prior contract ended 1/31/2020 but the RFP process was delayed by vendor protest. Corvel agreed to continue to provide service to Augusta during February in order to avoid interuption of service. Analysis: The new contract date effective is March 1, 2020. Augusta needs to make payment to Corvel for February services. Financial Impact: Corvel would receive the same rate for February as it received for the last month of the expired contract. The cost is $7800 Alternatives: Recommendation: Approve contract extension for the month of February in order to compensate the TPA for services delivered. Funds are Available in the Funding is available from account 621 01 5231 Following Accounts: REVIEWED AND APPROVED BY: Finance. Law. Administrator. Clerk of Commission lena Bonner From: Donna Williams Sent: Wednesday, March 4,2020 1 1:52 AM IO: Lena Bonner Subiect: LINK Deposit Attachments: Williams Approval Letter 7.19.2016.pdf;July 19,2016 info and recommendations approved.pdf Leno At the meeting on luly 19,2C16 there wos discussion ond opprovol of oction regording funds in 2 CDs qt locol bonhs designoted to operote the LINK progrqm. The two certificqte of deposit were moturing. The discussion centered qround the loch of use of the progroms qnd the loch of interest being eorned on the funds. At thqt meeting, the commission opproved returning the funds to Augusto's pooled cosh to be invested ct the going rqte. There they would be ovoiloble if needed qfter the progrom wqs overhouled. I don't recoll ony further discussion obout o new version being presented. donno Donna ts. ^Wiffr.atns, Cqf54 finance Director Augusta Richmond County Georgia | 535 Telfair St., Suite 800 | Augusta, GA 30901 E du,illiamsfnraugustaga.gov | 8Office: (706) 821- 2338 | E Fax: (706) 821-2855 a resuii ari iiie e-Ti-ari tra::;ir:i'.-'.:r..;r li verilicaticr, is required, please reques1 a hard colri, irr:i,jr,. i\t I r ': tj.i 1  / 9thce ot tf Office of the Adnrinisffator \{.-a- /A rr,r,..ffi lluniciprl Ste. 910 - Buildirrg Chester Errzrell, Dcputy Adnrinirrator 515 lelfrir Snesr - AUGUSIA, cA ,0901 Mllienr E. Rhinehrn, Dcputy Administr.ror (706) 82 r-r{OO - rAX (706) 82 t-r8r9 July 19, 2016 Ms. Donna Williams Finarpe Diredor 535 Telfair Steet Augusta, GA 30901 Dear Donna: The Augusla, C'eorgia Commission, al heir regular meeting held on Tuesday, July 1g, 20,l6 took action on the folbni::g items 1 'l Apyoved to adopt the attadled re@mmendations of tlre Finanoe Directrcr regarding the city's Link 0eposit program and tasked the Administralor to present a drafl n-ew Link program by the end-of Seitemuer ZOte lapproveo by Administrative Services Committee July 12, 2016) 32 Received as informalion lhe results ot lhe 2015 linancial audit ll you have any queslions, please cootact me purs truly /Y'u-,t t,.. Jarfce Allen Jacksor Adfrinistrator fi.19-'r6 *11.*32 State Bank (purchaser of First Bank) 53,683,991.85 .LO% Georgia Bank and Trust 51,961,753.57 .45% The Certificates of Deposit listed above are investments belonging to Augusta as a part of Augusta's total pool of invested cash. These CD's are referenced as supporting the LINK Deposit program. lt is important to recognize that none of the funds listed above were in any way intended to be loaned out by the banks administering the program. None of Augusta's funds were at risk. These investments will mature in August. I submit the following recommendations. 1. At maturity, the funds be returned to Augusta's pooled cash and become part of the existing investment pool. 2' Augusta should take this opportunity to revamp/overhaul the existing LINK program or to design a program that defines specific goals and processes to assist those small businesses desiring to conduct business with Augusta. 3. Once the new design is approved by Commission, an RFP would be drawn up by the Compliance Department for responses to be solicited by the Procurement Department. 4. The design of the program would clearly define the roles of the departments involved (Compliance, Finance, Procurement, Administration, etc) as well as define qualifications for prospective a pplica nts. 5' The RFP should clearly state whether Augusta would provide any incentives to participating institutions, the amount, the expected rate of return, and any reporting requirements. 5. lf investments such as Certificates of Deposit are used, those funds would be pulled from the total pooled cash available, the CD would be purchased and identified as associated with the program. 7. The program would be evaluated annually to measure its effectiveness. A few points bear repeating: L. Augusta's funds are not being loaned out. 2. Participating banking institutions use their own criteria to determine credit worthiness 3. The maturing existing Certificates of Deposit are not new revenue to Augusta. Those funds would simply move from an investment, to cash, then back to an investment. lnfo for July 19,2016 meeting  Finance Committee Meeting 3/10/2020 1:05 PM Link Deposit Funds Department: Presenter: Commissioner Marion Williams Caption: Update from Finance Dept. regarding Link Deposit Funds. (Requested by Commissioner Marion Williams) Background: Analysis: Financial Impact: Alternatives: Recommendation: Funds are Available in the Following Accounts: REVIEWED AND APPROVED BY:  &.t Finance Committee Meeting Commission Chamber - 212s12020 ATTENDANCE: Present: Hons. Fennoy, Chairman; D. Williams, Vice Chairman; M. Williams, member. Absent: Hons. Hardie Davis, Jr., Mayor; Frantom, member. FINANCE 1. Approve Civil and Magistrate Court budget transfer request: $17,000.00 be ltem transferred from Org. Key 101021613/Object Code 5lll21} (Perm Part-Time Action: S&W-Regular) to Object Code 5212999 (Other Professional Services). Approved Motions Motion Motion Motion Text Made By Seconded By Type Result Motion to approve. Commissioner Commissioner Approve Passes Motion Passes Dennis Williams William Fennoy 3-0. 2. Motion to approve the minutes of the Finance Committee held on February Item 11,2020. Motions "fi":Tl; Motion Motion Motion Text Made By Seconded By Type Result Motion to approve. Commissioner Commissioner Approve Passes Motion Passes Dennis Williams William Fennoy 3-0. 3. Recommend authorizing the Administrator to appropriate no more than Item $10,000 from contingency funds for matching grant funds required for a Action: veterans'cemetery. APProved Motions Motion Motion Text Made By ^Seconded By Motion -^""'"" 'r'ype Result Motion to . alprove. Commissioner Commissioner Approve uorio, Passes Dennis williams William Fennoy passes r 3-0. www.auqustaqa.qov  Finance Committee Meeting 3/10/2020 1:05 PM Minutes Department: Presenter: Caption: Motion to approve the minutes of the Finance Committee held on February 25, 2020. Background: Analysis: Financial Impact: Alternatives: Recommendation: Funds are Available in the Following Accounts: REVIEWED AND APPROVED BY:  Finance Committee Meeting 3/10/2020 1:05 PM Superior Court Transfer of salary funds Department: Presenter: Superior Court Caption: Request approval to transfer funds from salary line item 101021112/5111110 to 101021112/5239112 to continue to contract labor line; once the employee returns from worker’s compensation leave funds will be returned to salary line item. Background: Currently the Superior Court Reporter, a critical position has been out on worker’s compensation leave since February 19, 2019. (See attachment for further details.) Analysis: Financial Impact: Alternatives: Recommendation: Approve Funds are Available in the Available in salary line item 101021112/5111110. Following Accounts: REVIEWED AND APPROVED BY:  Finance Committee Meeting 3/10/2020 1:05 PM Overtime payouts in Augusta Utilities Dept. Department: Presenter: Commissioner Marion Williams Caption: Receive updated 2019 report from Finance Dept. regarding overtime payouts for employees in the Augusta Utilities Department in accordance with Commission's direction at the March 3 Commission meeting. (Requested by Commissioner Marion Williams) Background: Analysis: Financial Impact: Alternatives: Recommendation: Funds are Available in the Following Accounts: REVIEWED AND APPROVED BY: