Council Committees

AGENDA City Council Finance Committee January 22, 2026 8:15am (Est. duration 30 minutes) Conference Room A213 Members: Darren Peterson; Aaron Smith; Todd Thurston (Chairman); Megan Wiles Est. 5 mins Claims Docket Review Caitlin Kesner Est. 5 mins Fiscal Action: Additional Appropriation – Reverse DLGF Action in 2026 Budget Order Preview of necessary revisions to appropriations in the General Fund to reverse an appropriation reduction by DLGF in the 2026 Budget Order. This action restores the City’s authorized appropriations (as measured by DLGF) to the amounts approved by the City Council in the 2026 Adopted Budget. Document(s): ORD #XX-01-26 Presenters: Tom MacDonald Est. 5 mins Fiscal Action: Additional Appropriation – Embrace Downtown Project Preview of ordinance appropriating cash reserves from Civil City Capital Reserve Project Fund to supplement bond proceeds for construction costs related to the Embrace Downtown Project. Document(s): ORD #XX-01-26 Presenters: Tom MacDonald Est. 5 mins Update: Credit Rating Review for Embrace Downtown Bonds [TENTATIVE] Review of credit rating secured from S&P Global for marketing the Embrace Downtown bonds. Document(s): S&P Global Credit Rating Report – Embrace Downtown Bonds Presenters: Jeff Spalding Page 1 of 3 Est. 5 mins Review of Agenda Addendum Brief update on forward-facing items listed on the addendum. Jeff Spalding Est. 5 mins Other Business at Discretion of Chairman Todd Thurston Information Current Committee Discussion Items on Council Agenda – January 27, 2026 Only • Ordinance #XX-01-26 (1st Reading) Additional Appropriation – Reverse DLGF Action in 2026 Order • Ordinance #XX-01-26 (1st Reading) Additional Appropriation – Embrace Downtown Project Prior Committee Discussion Items on Council Agenda – January 27, 2026 • Ordinance #01-01-26 (2nd Reading) Amendment to 2026 Salary Ordinance • Ordinance #02-01-26 (2nd Reading) Appropriating Bond Proceeds for Embrace Downtown Project Additional Instructions Supporting documents to be reviewed at meeting: • Agenda Addendum • Claims Docket (sent separately to members) • Documents for all committee discussion items (current and prior) on upcoming Council meeting agenda • S&P Global Credit Rating Report – Embrace Downtown Bonds (to be distributed at the meeting) Page 2 of 3 Council Finance Committee – AGENDA ADDENDUM Potential Future Ordinances/Resolutions and Other Fiscal Matters: • GFOA-certified Budget Book – OFA staff is pursuing creation of an official City “budget book” which meets the professional standards established by the Government Finance Officers Association (GFOA). This effort entails refining and expanding our current Adopted Budget summary report to align with the GFOA’s minimum standards. • New Annual Budget Ordinance – Beginning with the 2027 annual budget ordinance, OFA will replace the Department of Local Government Finance (DLGF) budget ordinance template with a more customized ordinance that more clearly presents the City’s proposed budget yet still meets the DLGF requirements. • Administration of Debt Service Funds Ordinance – Establish in City code the authority of the Controller to create and terminate debt service funds, as necessary, to properly account for the receipt and expenditure of debt levy tax revenue. • Administration of Debt Proceed Funds Ordinance – Establish in City code the authority of the Controller to create and terminate debt proceed funds, as necessary, to properly account for the receipt and expenditure of proceeds from tax-supported (e.g. property tax, LIT, etc.) bond issues. • Update on City Financial Management Assessment – At a future meeting, OFA will present an update on steps taken towards implementation of the recommendations cited by Crowe, LLP in their Financial Management Assessment completed in December 2020. • City Code Revisions – Financial Matters Topics include: 1) update procurement process requirements; 2) update City funds established; 3) add vendor claims approval requirements; 4) add budget modification approval requirements; 5) add official cash reserve policy to support City credit rating; 6) add official debt management policy to support City credit rating; 7) enhance/clarify Rainy Day Fund provisions; 8) add post-employment benefits funding provisions. Page 3 of 3  ORDINANCE NO. XX-01-26 ADDITIONAL APPROPRIATION ORDINANCE 101 GENERAL FUND WHEREAS, certain fiscal demands have developed since the adoption of the current Civil City annual budget so that it is now necessary to add appropriation authority from available unappropriated reserve balance in a fund. WHEREAS, for each new fiscal year State law requires local units of government to provide a public notice to the Indiana Department of Local Government Finance (DLGF) of their proposed budgets, itemized by appropriated fund, prior to a public hearing conducted at the time the proposed budget is introduced to the local governing body. WHEREAS, the appropriation amounts cited in that public notice set a maximum level, for each fund, that the DLGF may authorize when completing its final budget order for the local government unit which the local government unit may later amend. WHEREAS, for the 2026 Civil City budget that public notice was submitted on September 12, 2025 in advance of a public hearing on September 23, 2025. WHEREAS, the 2026 Civil City budget, adopted through passage of Ordinance 31-09-25 on October 7, 2025, included a net appropriation increase of $345,000 from the General Fund (Fund 101), above the amount cited in the prior public notice to accommodate certain revisions to the 2026 Civil City budget deemed necessary by the Common Council and the Mayor. WHEREAS, since the 2026 adopted budget appropriation amount for the General Fund exceeded the 2026 proposed budget appropriation amount cite in the prior public notice, the DLGF reset the approved appropriation to the lower amount in the City’s 2026 Budget Order under requirements set forth in State law. WHEREAS, to reconcile that discrepancy, the City Council must now re-appropriate the amount of the difference to restore the total appropriations in the General Fund to the amount it had previously approved in the 2026 adopted budget to comply with DLGF budget certification requirements. NOW, THEREFORE, to address such demands for the General Fund: Section 1. BE IT ORDAINED, by the Common Council of the City of Noblesville, Indiana, that, for the obligations of the Civil City, the following appropriation increase be executed: INCREASE Department/Sub-Fund: 000 Non-Departmental Expenditure Series: 100 Personal Services Appropriation Amount: $300,000 #xx-01-26 Page 1 of 3  INCREASE Department/Sub-Fund: 004 Police Expenditure Series: 100 Personal Services Appropriation Amount: $50,000 Section 2. BE IT ORDAINED, by the Common Council of the City of Noblesville, Indiana, that, for the obligations of the Civil City, the following appropriation decrease be executed: DECREASE Department/Sub-Fund: 009 Council Expenditure Series: 300 Services & Other Charges Appropriation Amount: $5,000 Approved on this ____ day of ____ 2026 by the Common Council of the City of Noblesville, Indiana: AYE NAY ABSTAIN Mark Boice Michael J. Davis Evan Elliott David M. Johnson Darren Peterson Pete Schwartz Aaron Smith Todd Thurston Megan G. Wiles ATTEST: ______________________ Evelyn L. Lees, City Clerk #xx-01-26 Page 2 of 3 Presented by me to the Mayor of the City of Noblesville, Indiana, this _____ day of _______________, 2026 at _____ __.M. ____________________________________ Evelyn L. Lees, City Clerk MAYOR’S APPROVAL ___________________________ _________________ Chris Jensen, Mayor Date MAYOR’S VETO ___________________________ _________________ Chris Jensen, Mayor Date ATTEST: ______________________ Evelyn L. Lees, City Clerk #xx-01-26 Page 3 of 3  ORDINANCE NO. XX-01-26 ADDITIONAL APPROPRIATION ORDINANCE 190 CIVIL CITY CAPITAL PROJECTS RESERVE WHEREAS, certain fiscal demands have developed since the adoption of the current Civil City annual budget so that it is now necessary to add appropriation authority from available unappropriated reserve balance in a fund. WHEREAS, the funding plan for the Embrace Downtown project includes multiple funding sources. WHEREAS, to fully fund the project while limiting the bond financing share to achieve an annual bond payment of no more than four hundred twenty-five thousand dollars ($425,000), a cash buydown of the bond size it required given current credit market conditions. WHEREAS, the Civil City Capital Projects Reserve Fund was established in 2024 to fund selected capital projects, in full or in part, as a supplement to the City’s other sources capital project funding. WHEREAS, this is a request to increase appropriation authority for a non-recurring purpose. WHEREAS, an appropriation increase for a non-recurring purpose does not increase the base budget for the ensuing fiscal year. NOW, THEREFORE, to address such demands for the Civil City Capital Projects Reserve Fund: Section 1. BE IT ORDAINED, by the Common Council of the City of Noblesville, Indiana, that, for the obligations of the Civil City, the following appropriation increase be executed: INCREASE Department/Sub-Fund: 016 Eco Devo/Projects & Programs Expenditure Series: 400 Capital Outlay Appropriation Amount: $320,000 INTENTIONALLY LEFT BLANK #XX-01-26 Page 1 of 2 Approved on this ____ day of ____ 2026 by the Common Council of the City of Noblesville, Indiana: AYE NAY ABSTAIN Mark Boice Michael J. Davis Evan Elliott David M. Johnson Darren Peterson Pete Schwartz Aaron Smith Todd Thurston Megan G. Wiles ATTEST: ______________________ Evelyn L. Lees, City Clerk Presented by me to the Mayor of the City of Noblesville, Indiana, this _____ day of _______________, 2026 at _____ __.M. ____________________________________ Evelyn L. Lees, City Clerk MAYOR’S APPROVAL ___________________________ _________________ Chris Jensen, Mayor Date MAYOR’S VETO ___________________________ _________________ Chris Jensen, Mayor Date ATTEST: ______________________ Evelyn L. Lees, City Clerk #XX-01-26 Page 2 of 2