Finance Committee

City Hall Meeting Minutes 601 4th Avenue E Olympia, WA 98501 Finance Committee Information: 360.753.8244 Wednesday, June 17, 2020 5:30 PM Online and via phone Register to attend: https://us02web.zoom.us/webinar/register/WN_9r_ibG5HTbKspy7Vyn07eQ 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 Cheryl Selby and Committee member Lisa Parshley 3. APPROVAL OF AGENDA The agenda was approved. 4. PUBLIC COMMENT - None 5. APPROVAL OF MINUTES 5.A 20-0463 Approval of May 20, 2020 Finance Committee Meeting Minutes The minutes were approved. 6. COMMITTEE BUSINESS 6.A 20-0470 Budget Snapshot on State Shared Revenue Fiscal Services Director Nanci Lien presented the briefing. She provided information on State shared revenues, including criminal justice assistance, liquor profit sharing and excise tax sharing, marijuana excise tax sharing, gas taxes, and a multi-model distribution. She stated the 2020 City budget will not be impacted by most of these revenues because there are caps to the amounts the State shares with cities and towns or because the 2020 State budget is already set. The City budget will most likely be negatively impacted by the gas tax revenues because people are driving less since the COVID-19 pandemic. The discussion was completed. 6.B 20-0471 Discuss Joint Animal Services Commission Budget City of Olympia Page 1 Finance Committee Meeting Minutes June 17, 2020 Joint Animal Services Executive Director Sarah Hock presented information on the progress the animal shelter has made in the last year with their annual budget. She reported JASCOM will be looking at its assessment structure and revisiting the Interlocal Agreement have with Thurston County, and the cities of Tumwater, Lacey, and Olympia. The discussion was completed. 6.C 20-0469 Discuss Washington Center for the Performing Arts’ First Quarter Budget Washington Center for the Performing Arts (WCPA) Executive Director Jill Barnes gave the presentation. She reported WCPA’s first quarter income was $134,470 and first quarter expenses were $291,791. She asked the Committee to forward a motion to Council that would appropriate $80,000 of Lodging Tax Reserve to WCPA and to relieve their obligation to replenish the Endowment of $200,000 for funds used for the rigging system in 2018. Committee member Selby moved, seconded by Committee member Parshley, to approve and forward to the full City Council an appropriation for $80,000 of the Lodging Tax Reserve to the Washington Center for the Performing Arts to cover 2020 operating expenses and to relieve them of their obligation to replenish the Endowment of $200,000 for funds used to replace the stage rigging system in 2018. The motion carried by the following vote: Aye: 3 - Committee member Selby, Committee member Parshley and Chair Cooper 6.D 20-0479 Update on COVID-19 Economic Response and Recovery Efforts Economic Development Director Mike Reid and Thurston County Economic Development Council (EDC) Executive Director Michael Cade reported on the regional COVID-19 Response and Recovery Plan. They reported that, with the help of the investment the City made into regional economic development, the EDC was able to hand out face masks and hand sanitizer to over 400 local business in the last six days. Chair Cooper moved, seconded by Committee member Parshley, to direct City Manager Jay Burney to use $500,000 of the City’s CARES ACT distribution funds to invest in economic recovery and to research the fund balance within the Economic Development Account and forward a recommendation to City Council that includes $1,000,000 for investment in economic recovery. The motion carried by the following vote: Aye: 3 - Chair Cooper, Committee member Selby and Committee member Parshley 7. REPORTS AND UPDATES Administrative Services Director Debbie Sullivan reported the City received a signed, executed contract from Department of Commerce for the CARES Act Distribution Funding and can now start seeking reimbursement for up to $1.583 Million. City of Olympia Page 2 Finance Committee Meeting Minutes June 17, 2020 Ms. Sullivan also reported the City website was updated to provide more financial transparency. Updates include adding the Olympia Police Department (OPD) budget information prominently on the OPD webpage, updating the Budget/Financials webpage for added clarity and ease of use, and adding a Financial Resilience Strategy to the Budget/Financial webpage. 8. ADJOURNMENT The adjourned at 8:01 p.m. City of Olympia Page 3