Finance Committee

City Hall Meeting Minutes 601 4th Avenue E Olympia, WA 98501 Finance Committee Information: 360.753.8244 Wednesday, November 20, 2019 5:30 PM Room 207 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 3. APPROVAL OF AGENDA The agenda was approved. 4. PUBLIC COMMENT Peter Cook and Lisa Gillotti spoke. 5. APPROVAL OF MINUTES - None 6. COMMITTEE BUSINESS 6.A 19-1073 Review State Mandated Changes to the Model Business and Occupation Tax Ordinance Fiscal Services Accounting Manager Thomas Donnelly presented the state-mandated changes to the City’s Model Business and Occupation Tax Ordinance. Committee member Bateman moved, seconded by Committee member Parshley, to forward the updated Model Business and Occupation Tax Ordinance to the City Council for consideration. The motion carried by the following vote: Aye: 3 - Chair Cooper, Committee member Bateman and Committee member Parshley 6.B 19-1084 Briefing on Third Quarter Budget Report Fiscal Services Budget Analyst Joan Lutz and Fiscal Services Director Nanci Lien presented the third quarter budget report. Chair Cooper requested that quarterly budget reports be placed on the City’s website. City of Olympia Page 1 Finance Committee Meeting Minutes November 20, 2019 Ms. Lien also reported on updated sales tax incomes. The discussion was completed. 6.C 19-1075 Discussion of the Preliminary 2020 Operating and Capital Budgets Interim City Manager Jay Burney and Administrative Services Director Debbie Sullivan gave a report on the Preliminary Operating Budget. Chair Cooper proposed a recommendation for balancing the 2020 operating budget, including increasing the sales tax revenue forecast by .5% (from 1.5 to 2%) adding $100,000 in new revenue. Chair Cooper recommended the following expenditures: $30,000 for a Police Auditor. $5,000 to mail 5 Things Matter to all renters, $10,800 for increased hours for OFD Cares, $49,000 to move 12 fire vehicles to the Equipment Reserve Fund, and $5,200 to increase Council Goal money. Committee members Bateman and Parshley agreed. Mr. Burney relayed a request from South Puget Sound Community College to host Modern Warrior Live so veterans and military families can attend the performance. The Committee agreed to honor the request with Council Goal funds. Committee member Bateman moved, seconded by Chair Cooper, to forward the recommended proposed budget balancing changes to Council for consideration. The motion carried by the following vote: Aye: 3 - Chair Cooper, Committee member Bateman and Committee member Parshley 7. REPORTS AND UPDATES Mr. Burney shared information about recent bond rating calls. 8. ADJOURNMENT The meeting was adjourned at 7:18 p.m. City of Olympia Page 2