Finance Committee

MINUTES FINANCE COMMITTEE JUNE 19, 2023 The meeting of the Finance Committee was called to order by Gabe Allen on June 19, 2023, at 4.04p.m. The meeting was a hybrid meeting with some attendees present in the Johnnie Arolfo Civic Center Room 2 at 400 West Walker Street, League City, Texas and other members of the Committee or the public attending the meeting via videoconference. Present at the meeting Approval of Minutes from the May 15, 2023 Meeting Peggy Zahler moved to approve the minutes, seconded by Mayor Long. The motion passed all in favor and the minutes were approved. Citizen Comments There were no citizen comments. Committee Meeting Time Per the new mandate, a start time needs to be set for future Finance Committee meetings. All meetings need to start at 5:00pm or after. John Camp made a motion that all future meeting will continue to be held on Monday rotation and start at 5:00 pm. The motion passed all in favor. Presentation of FY2024-2028 Long Range Financial Forecast (LRFF) Angie Steelman presented Economic Overview of Long-Term Forecast and necessary changes that will improve economic conditions. New Single Family Home Permits FY2023-FY2028 Forecast Assumptions  Revenue Property Tax Revenue Estimated Revenue from NNR Rate Sales Tax Revenue Water/Wastewater Revenue Debt Service Payment Projected Outstanding Debt by Fiscal Year Basic Economic Projections General Fund Baseline Forecast Assumptions General and Utility Funds There were several questions and comments by Mayor Long and Committee Vice Chair Peggy Zahler. Review of Wire Transfer Process Audit Candace Brown presented Auditors Report. ﾫ Wire Transfer Process Audit * Preliminary Report issued to City Council Mayor Long and Angie Steelman had comments and questions. Kimberly Corell answered questions regarding Vendor PO Invoices and AP Check Run. She commented on the work that was done by Tyler Support representative. Peggy Zahler made some additional comments. Update on Short Term Rental Audit Candace Brown gave an update on Short Term Rental Audit ﾻ Taxes and fees collections Mayor Long had some comments regarding improvement of monitoring collections from Short Term Renters. Committee Member Comments Peggy Zahler made some comments regarding workshop and communication. Committee Chair Gabe Allen made a recommendation regarding Finance Committee involvement in pay process. Peggy Zahler congratulated Mayor Long on his excellent presentation before the State Senate. Christie Gabino made a comment regarding sale tax and name change issues in Galveston County. Staff Comments There were no staff comments. Adjournment Gabe Allen moved to adjourn the meeting. Peggy Zahler seconded the motion. Meeting adjourned at 5:13 pm.