Finance Committee

City Hall Meeting Minutes 601 4th Avenue E Olympia, WA 98501 Finance Committee Information: 360.753.8447 Wednesday, November 19, 2014 12:00 PM Room 207 1. ROLL CALL Present: 3 - Chair Jim Cooper, Committee Member Nathaniel Jones and Committee Member Cheryl Selby 2. CALL TO ORDER The meeting was called to order at 12:00 p.m. 3. COMMITTEE BUSINESS 3.A 14-0977 Oral Report: 2015 Operating Budget and Capital Facilities Plan The Committee met for the sole purpose of preparing a budget recommendation for the full Council. Staff and the Committee reviewed the following budget changes: General Fund Recap Adjustments to Preliminary Budget Revenues Expenses Property Tax $ 82,402 $ - Utility Tax $ 115,280 $ - B & O Tax 250,000 $ - General Fund Police Support Staff $ $ 80,000 Community Youth Partnership $ 20,000 Parks Maintenance $ 150,000 Economic Development Coordinator $ - 125,000 Police, Additional LERMS $ - 13,500 Hazard Trees $ - 50,000 Council Goals & Opportunity $ - 9,182 Total $447,682 $447,682 Balance $ -0- $ -0- Drinking Water Fund Fire District 3 Fires Services Assessment $ - $ 61,558 City of Olympia Page 1 Finance Committee Meeting Minutes November 19, 2014 Total $ - $ 61,558 Equipment Rental (Fleet) 1/4 FTE Reduction Inventory Control Spec. $ (14,177) Total $ - $ (14,177) Parking Fund Balance $630,000 $ - Parking Management Software $ - $125,000 IPS Meter Expansion $ - $125,000 Lock Upgrades $ - $ 45,000 State and Washington Improvements $ - $ 30,000 Downtown Police Patrol $ - $ 20,000 Total $630,000 $385,000 Parking Balance Fund $245,000 Staff recommends leaving a minimum balance of $100,000 to cover costs for meter replacements, striping, signage, etc. 2015 Finance Committee Budget Recommendation Notes In addition to balancing the 2015 operating budget, the Committee recommends the following items for possible use of any 2014 year-end savings (above 10% contingency): Downtown Plan $ 200,000 Percival Landing Repairs $ 350,000 Sidewalk / Bike Match $ 100,000 Fire Equipment Replacement $ 100,000 Technology Capital $ 200,000 Total $1,000,000 Actual appropriation(s) would not occur until books are closed in 2015. The Finance Committee also recommends appropriating the remaining 2012 unallocated fund balance to fully implement the Community Renewal Area initiative in 2015. The following items are for discussion with the Finance Committee in 2015: · Recommendations to adequately fund Parks operations maintenance and acquisition · Recommendation to adequately fund pavement management · Recommendations to fund near-term budget gaps · Indirect cost implications · Technology three-year plan · Study of jail and community corrections long-term costs and options for regional efficiencies · Continue review of all major revenue categories City of Olympia Page 2 Finance Committee Meeting Minutes November 19, 2014 · Capital Facilities Element and Planning Commission recommendations · Review of transportation impact fee calculations The discussion was completed. 4. ADJOURNMENT The meeting adjourned at 2:00 p.m. City of Olympia Page 3