Norman Forward Citizens Financial Oversight Board Meeting

NORMAN FORWARD CITIZENS FINANCIAL OVERSIGHT BOARD MINUTES April 2, 2018 The Norman Forward Citizens Financial Oversight Board (CFOB) of the City of Norman, Cleveland County, State of Oklahoma, met at 3:30 p.m. in the Municipal Building Conference Room on the 2nd day of April, 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: Members Cynthia Rogers, Andy Rieger, Chair Bill Nations, Anil Gollahalli, Tom Sherman, Andy Paden, and Linda Price ABSENT: Members Bree Montoya and MacKenzie Britt OTHERS PRESENT: Terry Floyd, Development Coordinator Anthony Francisco, Finance Director Jeff Bryant, City Attorney David Hopper, Chair Senior Citizens Center Ad Hoc Group Robert Huskey, citizen Roger Gallagher, citizen CALL TO ORDER AND ROLL CALL Chair Nations called the meeting to order. A quorum was present. ****** ITEM 1, being APPROVE MINUTES FROM FEBRUARY 12, 2018 MEETING After review and discussion of minutes of February 12, 2018 meeting, Member Rogers wanted to amend the minutes to reflect that she inquired about background analysis on estimates of utilization. A motion was made by Member Price and seconded by Member Rieger to approve the minutes as amended. Motion passed unanimously. Items submitted for the record: Norman Forward Citizens Financial Oversight Board Minutes April 2, 2018 Page 2 1. Norman Forward Citizens Financial Oversight Board Minutes February 12, 2018. ****** ITEM 2, being DISCUSSION OF FINANCE REPORTS-FINANCE DEPARTMENT Anthony Francisco gave the presentation. He stated that the sales tax is 5.3% below projections for the fiscal year and 7.47% below projection based on our original projections. Use tax is 14% above fiscal year projections and 27.8% above July 2015 projections. The combined Use and Sales tax projections are 4.45% below fiscal year projections and 6.09% below the combined projections. There have been substantial expenditures on the Westwood Complex and we are nearing exhausting that allocation, with about $400,000 left. The East Branch Library is down to about $600,000 and we are spending about $1 million a month on the Central Library. Chair Nations asked if the Norman Forward tax could be extended if the projects do not end up being fully funded. Francisco stated that Council has the ability to move money between project allocations, but project managers are working really hard to make sure the projects stay within budget. He stated that at the end of the whole project, the City could also vote to extend the Norman Forward tax. A motion to approve the Financial Report was made by Member Rogers and seconded by Member Rieger and passed unanimously. Items submitted for the record: 1. Norman Forward Expenditure Report 2. Norman Forward Sales Tax Revenue Report 3. Norman Forward Sales Tax Fund Annual Sales/Use Tax Growth Factor (FYE 2018) 4. Norman Forward Sales Tax Fund Annual Sales/Use Tax Growth Factor (FYE 2019- 2031) 5. Norman Forward Sales Tax, Versus Projection ****** Norman Forward Citizens Financial Oversight Board Minutes April 2, 2018 Page 3 ITEM 3, being DISCUSSION OF PREVIOUSLY-APPROVED COUNCIL ACTIONS AND POSSIBLE ACTION Francisco gave the report. Previous Council actions are in your packets for your review. Chair Nations asked if the contractor for the East Side Library has any responsibility for the added architecture fees related to the project going over the original contract timeline. Francisco stated that the contractor is not responsible for directly paying the architect for any time past the original contract time. Member Rieger asked about the relationship the City has with Pioneer Library System in reference to the furniture in the new East Side Library. Francisco stated that the City is purchasing the furniture and is providing it to Pioneer. The refurbishment of the furniture is subject to negotiation. Terry Floyd stated that the furniture that is being purchased is very high quality and should last for a long time. Member Rieger asked if the furniture will be insured by Pioneer in case of fire or some natural disaster. Francisco stated that will be covered under the City’s insurance. Member Gollahalli asked if the City’s insurance premium would be going up with all of the new purchases, and if that has been budgeted for. Francisco stated that the premiums are expected to rise, and an increase in the fiscal year 2018-2019 budget has been requested for the expected premium increase for the East Branch Library. Items submitted for the record: 1. K-1516-84 AMD #1 Amendment to contract K-1516-84 between the Norman Municipal Authority and Meyer, Scherer & Rockcastle, LTD. 2. K-1718-73 Contract between the City of Norman and the Norman Municipal Authority, Norman Utilities Authority, and Silver Star Construction Company, Inc. 3. K-1718-97 Contract between the Norman Municipal Authority and Pinnacle Design Group, LLC. 4. K-1718-112 Contract between the Norman Municipal Authority and L&M Office Furniture, LLC. 5. K-1718-49 FINAL Final payment between the City of Norman and Playwell Group, Inc. 6. R-1718-98 Resolution for consideration of a City Council recommendation that Cultural Facilities funding authorized under the Project Plan be used for the Senior Citizens Center ****** Norman Forward Citizens Financial Oversight Board Minutes April 2, 2018 Page 4 ITEM 4, being AD HOC LIAISON REPORTS Terry Floyd stated that the East Side Library is looking beautiful. Member Paden asked when Pioneer would take possession of the East Side Library. Francisco stated that he knows it will be sometime in the summer of this year. Floyd then stated that they will be putting together a team to talk about how to go about marketing and the Grand Opening of the Library. Member Gollahalli stated that the Griffin Park project is still in negotiation with the State. Jeff Bryant stated that there is a meeting scheduled for Friday with the Chief Executive Officer of the hospital and others to talk about work that had been done in December to provide for consumers long term. Francisco stated that the Westwood Aquatic Center has already sold several hundred season passes for this year. Floyd stated that the opening will still be on Memorial Day weekend. Bryant stated that there has been some discussion about putting in a billboard near the Westwood Aquatic Center to generate more revenue. Member Sherman stated that Council has made their proposal for the Senior Citizens Center. That is currently going through the proper channels. Bryant stated that Council is interested in seeing if there is any room in the University North Park Tax Increment Finance District Fund (UNP TIF) for the Senior Center to be added or substituted as a project. The TIF #2 Oversight Committee did pass a motion to add an additional project for the Senior Center instead of using the authorized funding in the UNP TIF for a Cultural Center for the Senior Center. Member Paden asked what the estimated surplus at the end of the Norman Forward Sales Tax could be used for if it is no longer required for the funding of the Senior Citizens Center. Francisco stated that would be up to Council, but it would probably be used for operational costs for those projects in the Norman Forward plan. ****** ITEM 5, being DISCUSSION OF PROJECT STATUS-PROJECT MANAGERS None. ****** Norman Forward Citizens Financial Oversight Board Minutes April 2, 2018 Page 5 ITEM 6, being MISCELLANEOUS DISCUSSION Francisco stated that he would like clarification on the request for an updated Implementation Plan. Is the Committee actually referring to updated pro forma financial projections? Member Rogers stated that she thought she remembered it referring to the pro forma financials. ****** ITEM 7, being ESTABLISHMENT OF FUTURE MEETING TIME(S) The next meeting of the Norman Forward Citizen’s Financial Oversight Board will be on May 14, 2018 at 3:30 pm. ****** ITEM 8 being ADJOURNMENT Member Golahalli made a motion to adjourn. The motion was seconded by Member Price. The motion passed unanimously and the meeting adjourned at 4:09 pm.