City Council Finance Committee Meeting

FINANCE COMMITTEE MINUTES November 15, 2018 The City Council Finance Committee of the City of Norman, Cleveland County, State of Oklahoma, met at 4:00 pm in the Municipal Building Executive Conference Room on the 15th day of November, 2018, and notice and agenda of the meeting were posted in the Municipal Building at 201 West Gray and the Norman Public Library at 225 North Webster 24 hours prior to the beginning of the meeting. PRESENT: Member Bierman ABSENT: Members Carter, Wilson, and Chair Castleberry OTHERS PRESENT: Mayor Lynne Miller Anthony Francisco, Director of Finance Mary Rupp, Interim City Manager Clint Mercer, Chief Accountant Gala Hicks, Director of Human Resources Kim Coffman, Budget Manager Ken Komiske, Director of Utilities Terry Floyd, Development Coordinator Ann Cole, BKD Joel Hassar, BKD Mayor Miller chaired the meeting in Chair Castleberry’s absence. Item 1, being: DISCUSSION REGARDING THE FYE 2018 CITY OF NORMAN AUDIT Anthony Francisco stated that the Finance Committee also serves as the Audit Committee for the City of Norman. Joel Hasser of BKD stated that the audit report is 85-95% complete, and we are reporting an unmodified and clean opinion that the statements fairly represent the financial position of the City as of June 30, 2018. There are no problems to report this year. There were a couple of changes this year including the post-employment plan. Under this plan, retired persons are allowed insurance coverage through the City even though they pay 100% of the premiums. This year you are required to recognize the whole liability and it is reflected on the government-wide fund balance. The new Governmental Accounting Standards Board (GASB) lease requirements become effective in 2021. Finance Committee Minutes November 15, 2018 Page 2 Items submitted for the record: 1. Draft of the 2018 Comprehensive Annual Financial Report for the City of Norman ****** Item 2, being: SUBMISSION OF THE REVENUE/EXPENDITURE REPORTS. Francisco stated that Norman is up in sales tax collection for the month compared to most of the metro cities. Items submitted for the record: 1. Summary of Major Fund Revenue Sources vs. Budget FYE 2019 as of October 31, 2018 2. Summary of Major Fund Expenditures vs. Budget FYE 2019 as of October 31, 2018 3. Appropriations from Fund Balance FY19 4. General Fund Transfers over $50,000 between Expenditure Categories FYE 19 October 2018 5. Norman Forward Sales Tax Financial Reports ****** Item 3, being: SUBMISSION OF THE REPORT ON OPEN POSITIONS Gala Hicks stated that we did receive 51 applications for the Animal Welfare position. The veterinarian who we offered the shelter job to did turn down the offer. The second choice is happy with the offered pay and is very interested in the job. It will likely be after the first of the year before we can actually have her start. The Animal Welfare Technician job on hold is just waiting for the approval to go through. We have only had 3 engineers apply, but we might be Finance Committee Minutes November 15, 2018 Page 3 very close to hiring one of the applicants. A firefighter academy will start soon and we hope to have some new hires around June or July of 2019. Items submitted for the record: 1. City of Norman Position Vacancy Report dated 10/31/18 ****** Item 4, being: MISCELLANEOUS COMMENTS None The meeting adjourned at 4:33 pm. ATTEST: City Clerk Mayor