City Council Finance Committee Meeting

CITY OF NORMAN, OK CITY COUNCIL FINANCE COMMITTEE MEETING Municipal Building, Executive Conference Room, 201 West Gray, Norman, OK 73069 Thursday, April 18, 2024 at 4:00 PM MINUTES 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 18th day of April, 2024, and notice of agenda of the meeting were posted in the Municipal Building at 201 West Gray, 24 hours prior to the beginning of the meeting. CALL TO ORDER PRESENT Mayor Larry Heikkila Councilmember Ward 3 Bree Montoya ABSENT Councilmember Ward 6 Elizabeth Foreman OTHERS. Councilmember Ward 4 Helen Grant Councilmember Ward 5 Michael Nash Councilmember Ward 7 Stephen Holman Anthony Francisco, Director of Finance Darrel Pyle, City Manager Jacob Huckabaa, Budget Technician Kim Coffman, Budget Manager Kathryn Walker, City Attorney Shaakira Calnick, Internal Auditor Major Brent Barbour, NPD Brenda Hall, City Clerk Scott Sturtz, City Engineer Jason Olsen, Director of Parks & Recreation Jane Hudson, Director of Planning Anthony Purinton, Assistant City Attorney Joyce Green, Planning & Development Devra Smith, NFD Administrative Tech. Lisa Krieg, CDBG/Grants Manager Chris, Citizen CITY COUNCIL FINANCE COMMITTEE MEETING - Thursday, April 18, 2024 Page |1 Mayor Heikkila called the meeting to order at approximately 4:00 PM, noting that there was a scrivener's error on the agenda and that the "Outside Agency," "IT Operations Funding," "Flock Camera Funding," and "Animal Welfare Funding" would not be topics of discussion under the FYE 2024-2025 City of Norman Budget, agenda item. AGENDA ITEMS 1. DISCUSSION REGARDING THE FYE 2024-2025 CITY OF NORMAN BUDGET Anthony Francisco gave the report. Francisco stated that the first study session, unveiling the Fiscal Year 2025 City Manager's Proposed Budget, occurred and that Councilmembers have received the proposal. Francisco encouraged anyone with questions to contact the Finance Department. "We are in the early stages of the Council's budget; so, anything that you want to take away or add, please let us know," Francisco said. 2. DISCUSSION REGARDING UPDATING THE URBAN LAND INSTITUTE (ULI) PLAN FOR THE GRIFFIN PROPERTY. Darrel Pyle asked Council for direction on if they wanted to move forward with a request for proposal (RFP) on updating the Urban Land Institute Plan for the Griffin land property. The update would allow for changes to the designated uses of this property. Once the RFP is developed, it would be presented to Council for review and revisions. Councilmember Grant and Councilmember Holman gave several suggestions on what they would like to see done with the Griffin property. The general consensus was to move forward with the RFP. A local or regional firm will update this plan. "We'll bring that back for Council's formal action," Pyle said. 3. DISCUSSION REGARDING MONTHLY REVENUE AND EXPENDITURE REPORTS. Anthony Francisco gave the report. He pointed out that the appropriations that Council has made were listed on the reports and that the largest appropriation was for the fire trucks. Francisco opened the floor for discussion. Councilmember Holman asked if there was anything new with national trends. Francisco replied, "The Federal Reserve recently responded to inflation reports by saying that they're probably not going to aggressively adjust interest rates over the next quarter or two and the market responded to that, but nothing real earth shattering." Holman then asked about any changes in retail trends. "We're on this flat trajectory," Francisco said. "We've been on that trajectory for almost a year now." 4. INTERNAL AUDIT PROGRAMS STATUS. Shaakira Calnick gave the report. She stated, "Internal control assessments are out. Internal control assessments are the first step in the risk assessment process. As we know, risk assessments are used to develop the audit plan. Internal control assessments are used to inform the risk assessment & identify those risks." Calnick has meetings set up with each department head to discuss the content of their internal control assessments. In May she will proceed with risk assessments to identify the highest risks within the City. An audit plan should be compiled in June and delivered to Council in July. Calnick states that investigation FSI 222356 is awaiting the City Manager's response and recommendation(s). CITY COUNCIL FINANCE COMMITTEE MEETING - Thursday, April 18, 2024 Page |2 ADJOURNMENT Mayor Heikkila adjourned the meeting at approximately 4:40 PM. ATTEST: ______________________________ ______________________________ City Clerk Mayor CITY COUNCIL FINANCE COMMITTEE MEETING - Thursday, April 18, 2024 Page |3