Finance Committee

200 South Hamilton Road City of Gahanna Gahanna, Ohio 43230 Meeting Minutes Finance Committee Michael Schnetzer, Chair Karen J. Angelou Brian D. Larick Jamie Leeseberg Nancy R. McGregor Brian Metzbower Stephen A. Renner Kimberly Banning, Clerk of Council Monday, July 24, 2017 Council Committee Room Immediately following Committee of the Whole CALL TO ORDER Brian Larick called the meeting to order at 7:52 p.m. Present 6 - Stephen A. Renner, Nancy R. McGregor, Karen J. Angelou, Brian D. Larick, Brian Metzbower, and Jamie Leeseberg Absent 1 - Michael Schnetzer UPDATE FROM THE DIRECTOR OF FINANCE Q2 Finance Report to Council Bury said nothing unusual to report; at 51% of planned; compared to 2016, has been a decrease of $800,000; mainly due to grants; income taxes are down; general fund expenditures are at 40% planned; lower than expected; in 2016, there was an increase due to capital outlay and some projects on lifecycle replacements; has been a decrease in fund balance but transfers are up; means we are spending within our means; on page 4, we are down on the individual; in 2016, we had large distributions, thought it may be due to early filers; have reached out to RITA but we have not found that information; will update in Q3; doing good all in all; keeping up with sustaining operating model; on page 5, you will notice I have the wrong amount for the mandatory reserve amount; Teal said we can update the document that goes online so it is current; McGregor asked about the income tax; said we have had more jobs created; is that not showing yet; Bury said we are seeing a smoothing of the income tax; we planned for an increase and we will meet that; going in to 2018 budget, will not have such a flattened increase planned; McGregor asked if we have incoming jobs, how are we are losing in other places; Bury said around Q1 report, City of Gahanna Page 1 Finance Committee Meeting Minutes July 24, 2017 talked about business withholding; existing businesses, some of the payroll is decreasing a little; Mayor Kneeland said number of job increases are a planned increase; was not all of those jobs in one year; will take time to get there; Metzbower asked about page 25 of our PDF; the expenditure comparison report, noticed a jump of about $20,000 for overtime payments; curious if there is a greater explanation; Bury said possibly due to pay increases that were negotiated in their contracts; Larick asked about page 6, revenues coming in, looking at expenditures, if maintained are 20% under planned; Bury said would have to take transfers into consideration; explained how it translates; this includes things that we have rolled forward; if we took carryover out, we would be at about 27. 2017-0158 2017 Q2 Finance Report to Council ADJOURNMENT 8:03 p.m. City of Gahanna Page 2