Finance Committee

City Hall City of Olympia 601 4th Avenue E Olympia, WA 98501 Information: 360.753.8447 Meeting Minutes Finance Committee Wednesday, March 12, 2014 5:00 PM Room 207 1. ROLL CALL Present: 2 - Chair Jim Cooper and Committee Member Cheryl Selby Excused: 1 - Committee Member Nathaniel Jones 2. CALL TO ORDER Chair Cooper called the meeting to order at 5:00 p.m. 3. APPROVAL OF MINUTES 3.A 14-0198 Approval of February 13, 2014 Finance Committee Meeting Minutes Committee Member Selby moved, seconded by Chair Cooper, to approve the minutes. The motion carried by the following vote: Aye: 2 - Chair Cooper and Committee Member Selby Excused: 1 - Committee Member Jones 4. COMMITTEE BUSINESS Committee Member Jones arrived at 5:10 p.m. Present: 3 - Chair Jim Cooper, Committee Member Nathaniel Jones and Committee Member Cheryl Selby 4.A 14-0233 Asset Management in Park Maintenance Parks, Arts & Recreation Associate Director David Hanna, Parks Program & Planning Supervisor Gary Franks, and IT Services Supervisor David Kuhn presented an overview of the asset management system (Vue Works) which is currently being implemented by the Parks Department. The initial phase includes an asset management pilot implementation at Yauger Park and implementation of the work order management portion of Vue Works. The report was received. 4.B 14-0237 Update on Building Repair and Replacement Fund (029) Public Works Deputy Director Debbie Sullivan briefed the Committee on the condition City of Olympia Page 1 Finance Committee Meeting Minutes March 12, 2014 rating of major City-owned buildings and anticipated maintenance costs through 2021. She handed out a cash-flow projection of major maintenance needs for medium and high priority items through 2020. The projection indicates a funding deficit of $10.2 million over existing funding practices. It was noted that low priority items would add an additional $5 million. Ms. Sullivan announced to the Committee that the City is in the process of receiving a grant of $183,000 to add solar panels to City Hall. Ms. Sullivan updated the Committee on the Police Annex removal project. Asbestos has been found in the old Court Services building. The project anticipated moving jail staff showers and lockers to the old Court Services building. Removal of the asbestos would add an estimated $90,000 to the previous cost projection of $200,000 for the project. As a result the project has been put on hold and staff is considering options for relocation of the jail staff showers and lockers. The report was received. 4.C 14-0229 2013 Year End Financial Review Administrative Services Finance Manager Dean Walz provided an update of the amount of fund available for assignment of fund balance. The information in the staff report was based on preliminary 2013 financial information. 2013 is now closed and we know the actual amount available after maintaining the 10 percent reserve plus an additional $250,000. The proposed assignments of fund balance to the parking special account, information technology and PSE-LED light conversion as indicated in the staff report were not changed. The amount proposed for facilities major repair and maintenance is changed to $1,336,300 from $1,450,300. Chair Cooper asked about deferred transfers from the general fund. Mr. Walz provided a handout showing General Fund transfers and deferred transfers for the period 2003 - 2013 to the arts fund, LEOFF 1 long-term-care account, fire equipment reserve fund and facilities major repair & maintenance fund. Committee Member Selby indicated she would like to see the $1 per capita reinstated into the regular budget. Community Planning & Development Program and Planning Supervisor Karen Kenneson explained how the parking special account is used. Committee Member Jones and Chair Cooper indicated they would like to see the additional funding of information technology funded in the regular budget in the future. Committee Member Jones also requested that an information technology plan be brought back to the Committee. The Committee asked about the status of remaining funds for City Hall public art. Assistant City Manager Jay Burney indicated $180,000 is remaining. The Committee referred to the Arts Commission for consideration and recommendation to transferring $100,000 of the remaining City Hall public art funds to the municipal arts fund. City of Olympia Page 2 Finance Committee Meeting Minutes March 12, 2014 Committee Member Selby moved, seconded by Chair Cooper, to assign the General Fund fund balance and recommend to the City Council approval of an ordinance appropriating the following amounts: $88,880 Parking Special Account 200,000 Information Technology 325,000 PSE-LED Light Conversion 1,336,300 Facilities Major Repair & Maintenance, with up to $500,000 set aside for the isthmus project. $1,950,180 Total The motion carried by the following vote: Aye: 3 - Chair Cooper, Committee Member Jones and Committee Member Selby 5. ADJOURNMENT The meeting adjourned at 6:50 p.m. City of Olympia Page 3