Finance Committee

200 South Hamilton Road City of Gahanna Gahanna, Ohio 43230 Meeting Minutes Finance Committee Michael Schnetzer, Chair Brian D. Larick Jamie Leeseberg Karen J. Angelou Brian Metzbower Stephen A. Renner Nancy McGregor Kimberly Banning, CMC, Clerk of Council Monday, April 25, 2016 Council Committee Rooms Immediately Following Committee of the Whole CALL TO ORDER Chair Schnetzer called the meeting to order at 7:36 p.m. ADDITIONAL ATTENDEES: Shane Ewald, Dottie Franey, Matt Holdren, Ken Shepherd, Mayor Kneeland, Diana Redman, Jeannie Hoffman, Joann Bury, Rob Priestas, Jennifer Teal, Press. Present 6 - Stephen A. Renner, Brian D. Larick, Karen J. Angelou, Nancy R. McGregor, Michael Schnetzer, and Jamie Leeseberg Absent 1 - Brian Metzbower DISCUSSION ITEM FROM THE DIRECTOR OF FINANCE 1. 2016 Q1 Financial Update 2016-0138 2016 Q1 Financial Update - Report to Council Bury said we are ending the first quarter of 2016 very well; have 28% as planned; up from last year due to property tax timing; income taxes are also on the rise but that appears to be more individuals filing earlier; expenditures are over 6.7 million; where we like to be at; timing of our payroll processing impacted the first quarter versus last year; 2.7 million dollar transfer to the capital improvement fund; transfers in has decreased; we typically wait for the second settlement to process; transfers out of the equation; we ended up with an increase to show we are spending within our means; Angelou said likes the increase; Schnetzer said on page 5 there is the graph of the general fund balance; until the current bar there is everything until year end; asked if this is because a quarter update why this looks skewed; City of Gahanna Page 1 Finance Committee Meeting Minutes April 25, 2016 appropriations have gone out and we have not received them all; Bury confirmed and encumbrances impacted that; ended the year with impacts from the first quarter and the transfer to the capital improvement fund; we stay within our revenues; Schnetzer said page 3 of the document and 4 of the PDF; the year to date and year to date for 2016, asked if the data existed so we can get the number of withholdings; to see the number of individuals; Bury said we are working hard with RITA; have already made that request; Larick asked if the budgeted amounts are year long numbers; asked if we can get those quarter actual; Teal said we can discuss that but it has not been done in the past; Mayor Kneeland asked the value; Larick said we do not have the actual value; Mayor Kneeland said we can look at that; we have not reported that or ran that in the past; Larick said in the private sector this is done on a monthly basis; Mayor Kneeland said the market and revenue are very different; not opposed to looking at it; trying to capture the value; Larick said would like to see how we can see where we stand 4 times a year versus once a year; Teal said our this quarter versus last quarter we can see some of those numbers and the fluctuations; seeing changes quarterly is one place we can see what is really valuable; open to anything that improves the process; Schnetzer said the convention across the universe is to operate on annual financials; which is reported 180 days after; working in the year; the updates we receive here are greater than the transparency he typically encounters in his day job; not rebutting the value in quarterly information but question the analogy of a business that lives and dies on quarterly reporting; Larick said a couple months ago we talked about capital reporting; Mayor Kneeland said looking to roll that out soon; have to set dates; Bury said should have that by mid-June; Angelou asked about opencheckbook.com; Bury said working on getting that information; making good progress; hoping by mid-May to be completely live with that. DISCUSSION Schnetzer said kicking around an idea wanted to go over with Council; wants us to walk down the path of where we are at with trend analysis and appraisals; would like to discuss 10-15 minutes every other Committee to go over where the City is financially; asked Rob to pull information on where we are with the condition of our streets; asked if there is an appetite for it; would present the data and have a conversation Mayor Kneeland said FYI; Chief Kauser mentioned giving recognition to a Police Officer who assisted in a critical incident; we are presenting four life saving awards at his staff meeting tomorrow morning; doing this on a regular basis now; have had seven to eight already this year; this goes on on a regular basis; get notified of every life saving effort City of Gahanna Page 2 Finance Committee Meeting Minutes April 25, 2016 the Police are in on; there are quite a few of these the Police are doing now; they will be on scene prior to the medics; we have a class act of guys out on the street; McGregor said the police are out and about already; Mayor Kneeland said seconds save lives. ADJOURNMENT 7:51 p.m. Kayla Holbrook, Reporting City of Gahanna Page 3