City Council Finance Committee

Finance Committee Minutes June 18, 2019 Members Present: Joe Emmett, Joe Rodriquez, Paul Davidhizar Staff Present: Steve Ritter, Aron Kulhavy, Kevin Byal, Ram Ramachandra, Kevin Lunsford The agenda items discussed were: • Approved the minutes from the May 7,2019 meeting. • Aron discussed the possibility of adding an Airport Ground Lease fee to the fee schedule for the next FY. Aron presented the committee members with a handout of current TXDot rates. The recommended amount is $0.15 a square foot per year. The typical hanger is anywhere from 5,000 to 6,000 a square foot. • Discussed the FY 19 Fee Schedule. Kevin Byal spoke regarding the recent state law decision to change the method of charging residential customers permits; the item is on the City Council agenda for tonight’s meeting. • Reviewed the budget amendment that is being presented to the entire city council tonight and one additional budget amendment for Parks was shared with the committee. The City received a donation of $6K for the purchase of a new scoreboard at Kate Bar Ross park and the money needs to be moved into an expense account for use this FY. The entire cost of the scoreboard is $10,800 and includes delivery and installation. All committee members presented approved of both budget amendments. The budget amendment for Parks will be on the city council agenda for July 2, 2019. • Aron then discussed with the Committee members the Prop 1 Bond proceeds for furniture, fixtures, and equipment for the new police and fire station. Aron indicated that we are getting close to issuing the bond debt and needed to address these items. The total bond amount approved by the voter’s is $24 M. The current cost estimate on the “furniture, etc.…” is approx. $1.25M. There is basically two options at this point: 1. Roll the “furniture, etc.…” in with the debt 2. Pay cash Aron indicated that the General Fund is “healthy at this time” and has approx. $5M above the required reserve minimum. At this same time the CIP projects are being worked on and some of the bigger projects to think about are 1. Design for the City Hall and Service Center buildings 2. Parks Master Plan 3. Airport Master plan 4. Transportation Master plan Bids for the Prop. 1 project opens on July 16th. The committee members wanted to wait till after the bids for the project were opened to determine what course of action that they wanted to recommend.