Board of Lights and Water

205 Lawrence Street City of Marietta Post Office Box 609 Marietta, Georgia 30061 Meeting Minutes BLW Budget/ Rates Committee Chairman Terry G. Lee Vice Chairman Bruce E. Coyle Board member Mike Wilson Monday, February 6, 2017 11:00 AM City Council Chambers Immediately preceding BLW Board lunch Presiding: Terry G. Lee Present: Mike Wilson and Bruce Coyle Also Present: R. Steve Tumlin, Board Chairman Brian Torras, Board member Alice Summerour, Board member Ron Mull, General Manager Bill Bruton, City Manager Various City/BLW Staff Stephanie Guy, Board Clerk CALL TO ORDER: Chairman Lee called the meeting to order at 11:00 a.m. MINUTES: 20170122 Minutes - November 29, 2016 Review and approval of the November 29, 2016 committee meeting minutes. A motion was made by Board member Coyle, seconded by Board member Wilson, that this matter be Approved. The motion carried by the following vote: Vote: 3 – 0 – 0 Approved BUSINESS: 20170123 General Fund Transfer Discussion regarding the General Fund Transfer. City of Marietta Page 1 Printed on 3/22/2017 2:51:22PM BLW Budget/ Rates Committee Meeting Minutes February 6, 2017 Finance Director Sam Lady presented a review of the financial position of the BLW and the general fund transfer history. Discussion was held regarding the regarding the General Fund Transfer. The Board also discussed adding an additional $1 million be returned to the City per the Mayor’s request. After discussion, there was a general agreement to recommend to the BLW Board to maintain the transfer to the general fund in the amount of $11 million, with an additional $1 million. A motion was made by Board member Wilson, seconded by Board member Coyle, to approve a recommendation to the BLW Board to transfer $12 million from the from the Board of Lights and Water to the City's General Fund. The motion carried by the following vote: Vote: 3 - 0 - 0 Approved 20170133 Additional Return to City/ $1 Million Based on ability to pay and financial position of the BLW this year, we request an additional $1 million be returned to the City per the Mayor’s request. Discussed ADJOURNMENT: The meeting was adjourned at 11:27 p.m. Respectfully submitted, _____________________________ Stephanie Guy, City Clerk Approved: ___________________ City of Marietta Page 2 Printed on 3/22/2017 2:51:22PM