City Council Committee Agendas

Mount Vernon City Council Finance Committee Minutes October 14, 2015 Present: Councilmembers Fiedler, Molenaar, Lindquist, Quam, Hulst, Ragan and Urban, Mayor Boudreau Staff present: Finance Director Alicia Huschka, Fire Chief Hari, Police Chief Dodd, CED Director Bob Hyde, MVPR Operations Supervisor Weppler, Eric Stendal, Library Director Soneda, Linda Brookings, Human Resources Director Bartlett and City Attorney Rogerson. 1. Mayor Boudreau presented the 2016 Preliminary Budget to Council. Some of the items highlighted: • The 2016 preliminary budget is $53.2 million which is an increase of $1 million or 1.9% compared to the 2015 budget. • The Governmental Operating budget is $27.1 million representing an increase of 3.8% or $991,000 million compared to the 2015 budget. • The preliminary budget for the Current Expense Fund uses $563,476 of fund balance to balance the budget. This brings the estimated fund balance to $2.8 million, which is just under the goal of 2 months reserve 2. Alicia reviewed the budget with the following highlights: • This budget contains a 1.6% COLA for non-represented employees, medical insurance coverage for employees is decreased by $150,000 there are a few salary adjustments and restructures requested. These changes total $347,000 increase. • The goal is to have 15% of reserves for current expense in the fund balance. The $2.8 million is $246,901 below that target. Budget discussions will continue at the October 21 and 28, 2015 Finance Committee Meetings. The property tax levy will be presented for potential adoption on November 4, 2015 and the Council will be asked to vote on the preliminary budget on November 24, 2015. Adjourned at 6:57 p.m. Submitted by Morgan Morrison