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, January 22, 2018 Council Committee Room Immediately Following Committee of the Whole CALL TO ORDER Chair Schnetzer called the meeting to order at 8:34 p.m. Present 6 - Brian D. Larick, Michael Schnetzer, Karen J. Angelou, Nancy R. McGregor, Brian Metzbower, and Jamie Leeseberg Absent 1 - Stephen A. Renner UPDATE FROM THE DIRECTOR OF FINANCE 2018-0019 2017 Year End Finance Report Bury said nothing unusual to report; $25.6 million; 93.6% planned; less than 2016; income tax was part of it; misc. revenue; had large insurance settlements in 2016; fines and forfeitures are down; from reduction in citations; and cable franchise fees; their revenues are dropping; admin service charges are decreased also; part due to services we were providing; like IT services to Whitehall; that is revenue; expenditures should be 79%; looked at differences between 2 years; mainly salaries; trying to pull budget more in line with actuals; ended year with fund balance not including reserves; did receive 1% less in income tax; planned a 4% increase; not much has changed in research done; did another quick look at top 300 holders; still growth there; not seeing anything trending down; could be any number of reasons why; in 2018, did a 2% increase for 2018 prediction; not seeing a shrinkage; indicators show continued growth into 2018; did not do a decrease but did lower what we were expecting to get; we are still having an impact on the SOM and what we have to implement the strategic plan; Schnetzer said revenues are leveling off, if not slightly declining; asked about the transfer out; said some of that will include transfer to capital; asked for capital City of Gahanna Page 1 Finance Committee Meeting Minutes January 22, 2018 outlet from GF; Bury said that is for fleet replacement; asked what can be paid; Bury said new construction, remodeling or infrastructure; is in an Ordinance; could be changed. ADJOURNMENT 8:41 p.m. City of Gahanna Page 2