Finance Committee

City Hall Meeting Minutes 601 4th Avenue E Olympia, WA 98501 Finance Committee Information: 360.753.8244 Wednesday, February 20, 2019 5:30 PM Council Chambers Potential Quorum of the Olympia City Council 1. CALL TO ORDER Chair Cooper called the meeting to order at 5:30 p.m. 2. ROLL CALL Present: 3 - Chair Jim Cooper, Committee member Jessica Bateman and Committee member Lisa Parshley OTHERS PRESENT Councilmember Jones was present at the meeting, but did not particpate in the conversation. 3. APPROVAL OF AGENDA Item 6C was heard before Item 6B and all other items moved down. The agenda was approved as amended. 4. PUBLIC COMMENT The following people spoke: Dave Watson, Bob Jacobs, Nicole Butigan, and Patty Belmonte. 5. APPROVAL OF MINUTES 5.A 19-0181 Approval of January 16, 2019 Finance Committee Meeting Minutes The minutes were approved. 6. COMMITTEE BUSINESS 6.A 19-0168 Budget Snapshot - Debt Instruments Fiscal Service Director Nanci Lien provided a presentation on the debt instruments the City most often uses. The information was received. City of Olympia Page 1 Finance Committee Meeting Minutes February 20, 2019 6.B 19-0170 Briefing on the Future Financial Needs for Long-Term Capital Projects - Including the County Courthouse Administrative Services Director Debbie Sullivan led a discussion on future capital projects that may require debt over the next 10 years. Chair Cooper asked for a monthly update on this work as the City considers the opportunity to participate in Thurston County’s regional courthouse at the Lee Creighton Justice Center. The information was provided. 6.C 19-0175 Discussion of a Process to Consider a Locally Mandated Minimum Wage in Olympia City Manager Steve Hall presented a recommendation for a process to consider a locally mandated minimum wage. The Committee discussed the value of learning more about our business community as they consider this issue. Committee member Parshley suggested a possible focus group (stakeholder group) to learn what the best response might be. Chair Cooper said he would work with Mr. Hall and Economic Development Director Mike Reid to further develop the recommended process to consider a locally mandated minimum wage. The discussion was completed. 6.D 19-0169 Oral Report - Review and Discuss 2018 Year-End General Fund Balance Ms. Sullivan explained year-end fund budget and that Fiscal Services would be coming to the March 20 Finance Committee meeting with final numbers. The report was received. 7. REPORTS AND UPDATES Committee member Parshley inquired about the fire equipment purchase and when it was needed. Assistant Fire Chief Mike Buchanan explained the tariff deadline that they thought was going to make a large difference in the cost is no longer a major concern. Ms. Sullivan reported she would add a meeting with the Utility Advisory Committee since the Finance Committee is liaison to the UAC. 8. ADJOURNMENT The meeting was adjourned at 7:09 p.m. City of Olympia Page 2