Finance Committee

City Hall City of Olympia 601 4th Avenue E Olympia, WA 98501 Information: 360-753-8447 Meeting Minutes Finance Committee Thursday, May 9, 2013 5:30 PM Room 112 1. ROLL CALL Present: 2- Chair Stephen H. Buxbaum and Committee Member Nathaniel Jones Excused: 1 - Committee Member Jim Cooper 2. CALL TO ORDER 3. APPROVAL OF MINUTES 3.A 13-0360 Approval of April 11, 2013 Special Council Meeting to Conduct Business of the Finance Committee Meeting Minutes The minutes were approved. 4. COMMITTEE BUSINESS 4.A 13-0362 Agenda Item: Technology Funding Overview Administrative Services Information Technology (IT) Line of Business Director Shawn Ward gave an overview of technology funding. The IT planning and implementation program was established to allow the City to invest in capital technology solutions which are often high dollar acquisitions or require project timelines in excess of one year. These projects most often include the replacement, modification or expansion of existing systems or the addition of new technology systems. Some of the current technology projects include: - Law Enforcement Records Management System (LERMS) - Planning, permitting, land use and code enforcement - Phone system replacement - Windows 7 upgrade - Website enhancements - Social media applications Future projects include: - Financial system replacement - Utility Billing - Public Access GIS City of Olympia Page 1 Finance Committee Meeting Minutes May 9, 2013 - Replacement of the Intranet Chair Buxbaum asked if implementation of the LERMS system would get cameras in the police cars. Mr. Ward responded “no”, this system addresses police records management only. Committee Member Jones asked that we schedule a future study session to review these projects with the full Council. The report was received. 4.B 13-0361 Agenda Item: Written Report Only - Transportation Benefit District (TBD) Debt Financing The Finance Committee had asked if the TBD could issue its own debt. The answer from a legal perspective was “maybe”, but from a practical standpoint the answer is "no". If the TBD issued bonds, the City’s credit could not be pledged to secure the bonds, thus making it difficult for the bonds to stand on their own. The bonds would not receive a quality rating and thus not receive a favorable interest rate or even potential bidders. The Committee asked if the City could issue revenue bonds and use the TBD revenues to pledge against the debt. The Committee asked staff to discuss this at the next TBD Board meeting. The report was received. 4.C 13-0363 Agenda Item: Long Term Revenue Strategies As a part of the 2014 budget strategy, the Committee discussed potential revenue options. Administrative Services Director Jane Kirkemo reviewed a spreadsheet of the current voted as well as non-voted options. She also mentioned several pieces of legislation that, if approved, could also provide additional options. The discussion was completed. 4.D 13-0371 Agenda Item: Oral Report - Update on The Washington Center Contract and Endowment Fund The report was postponed until after the new Washington Center Director is on board. 4.E 13-0250 Review of the 2000 Long Term Financial Strategy (LTFS) Process The report was postponed and referred to the Finance Committee June 13, 2013 meeting when Committee Member Cooper returns. 4.F 13-0276 Agenda Item: 2014 Budget & Public Engagement Plan During the 2013 Council deliberations on the budget, Council asked staff to look at the budget calendar for 2014 to provide an opportunity for more public engagement. During City of Olympia Page 2 Finance Committee Meeting Minutes May 9, 2013 the January Finance Committee meeting staff reviewed all the budget public engagement opportunities in 2013 as well as previous years. During the Committee meetings members said we should be more intentional in how we work with our advisory committees and we should involve the Coalition of Neighborhood Associations (CNA). Accordingly, the City Manager will present the 2014 operating budget October 22 - giving citizens 3 weeks to review the budget prior to the public hearing. The capital facilities plan public hearing will be October 15. This schedule will allow the public to tie the 2 pieces of the budget together more easily. Bob Jones and Phil Shulte from the CNA participated in the Committee discussion. The Finance Committee will meet with the CNA at their June 10 meeting. The Committee will use the CNA to test our process/strategy. The report was received. 5. ADJOURNMENT The meeting adjourned at 6:50 p.m. City of Olympia Page 3