City Council Finance Committee

Finance Committee Minutes February 5, 2019 Members Present: Joe Rodriquez, Paul Davidhizar and Tish Humphrey Staff Present: Steve Ritter, Aron Kulhavy, Ram Ramachandra, Bill Wavra The agenda items discussed were: • Approved minutes from the January 15, 2019 meeting. • Charles Hodge, from Milliman (investment advisors for PEB Trust) gave the committee an update on the current fund and status of the trust. There are no brokers on “watch”. Trust is being managed and we are in target with our financial goals related to the Retiree Health fund trust. Steve Ritter indicated that we had spent some monies out of the PEB trust last year for 4 retirees to be paid monies into an HRA for their sick leave per the current retiree policy, basically $40K. • Bill Wavra explained the need for the budget amendment to finish the fiber loop project connecting city owned properties and the benefits of having our own fiber lines. This budget amendment will be presented to the full council on February 19th meeting. • Ram Ramachandra discussed the budget amendment for the additional engineering costs associated with the second phase of TxDOT IH 45 Segment. TxDOT has looked at all of the utilities in the ground and found some additional conflicts and we need to have some additional design work done by our engineering group, RPS. TxDOT is still expected to pay for $2.6 million with the City only having to incur the costs for “upsizing” our utility lines; which is approx. 70% TxDOT and 30% COH cost share. The construction for this project with be budgeted in the FY 2020 budget.