Finance Committee

200 South Hamilton Road City of Gahanna Gahanna, Ohio 43230 Meeting Minutes Finance Committee Monday, August 17, 2020 Virtual *Immediately Following Committee of the Whole* +1 513-306-4583 Conference ID: 852 596 500# A.. CALL TO ORDER Chairman Schnetzer called the Finance Committee meeting to order at 9:54 p.m. All members were in attendance. B. DISCUSSIONS 1. ITEM FROM THE DIRECTOR OF FINANCE 2020-130 Department of Finance Q2 Report Ms. Bury presented the Q2 Report which is attached. Mr. Larick asked about page 2 income tax revenue in the general fund being down 18% that translates the general economy in Gahanna is down 18 % because our revenues are down 18%. (audio breaking up) Ms. Bury said that part of that is a delay in tax filing. Normally all of the filing would have been done. So it may not be a loss in revenue but a delay. Mr. Larick asked about page 3. The various funds- when we look at the income tax there is a note for each fund that talks about income tax revenue in dollars and how the percentage of plan can be different across the funds if we started with a defined expected amounts and the revenue is different from that. We have one tax issue that was passed that contributes to that fund and its a brand new fund, can you explain that. Ms. Bury said it was based on what their operating costs are estimated to be and if they have other offsetting revenue. So it isn't broken up evenly across the funds its based on operating costs. Mr. Larick asked about page 4 the available budget columb, does it mean that those funds will not be spent and they will be available? City of Gahanna Page 1 Finance Committee Meeting Minutes August 17, 2020 Ms. Bury replied that the money will be encumbered but perhaps not until down the road. Mr. Larick asked about page 10 some of the funds are showing negative. Are you expecting supplementals to balance that. Ms. Bury said that some of those will have grant revenue coming in. Other ones, the water fund, they pull in the full year on a PO so at the end of the year they'll be in the positive. 2. Committee Discussion: Capital Needs Assessment Mr. Schnetzer asked to have questions submitted so that Ms. Bury had time to review them. He has not gotten anything on this nor have the administration received any questions. He said if there any questions it can be put on the agenda in 3 weeks. Meeting adjourned at 10:16 p.m. City of Gahanna Page 2