Finance Committee

City Hall Meeting Minutes 601 4th Avenue E Olympia, WA 98501 Finance Committee Information: 360.753.8244 Wednesday, August 19, 2020 5:30 PM Room 207 Register to attend: https://us02web.zoom.us/webinar/register/WN_YqIKtCjfRjOta8nwttapLA 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 20-0643 Approval of July 15, 2020 Finance Committee Meeting Minutes The minutes were approved. 6. COMMITTEE BUSINESS 6.A 20-0634 Briefing on the Preliminary Capital Facilities Plan, 2021-2026 Financial Plan Finance Director Nanci Lien presented the briefing. Ms. Lien reported the following changes were made in the 2021-2026 Preliminary Capital Facilities Plan (CFP): added Fire and Home Fund sections; pulled out debt service since it is paid from the operating budget; 2021 appropriations represent current projects; added separate revenue/expenditures for each of the next five years; and included 7 to 20 years CFP project information. Ms. Lien stated the 2021-2026 CFP project costs will be $192,166,153 which is an increase of $37,094,943 over the 2020-2025 CFP projects costs of $155,071,120. The report was received. 6.B 20-0626 Discussion of Parks and Olympia School District 2021 Impact Fees City of Olympia Page 1 Finance Committee Meeting Minutes August 19, 2020 Parks Planning & Maintenance Director Jonathon Turlove reported park impact fees are $5,581 per single family residence and used in the following categories; neighborhoods, communities and open spaces. Mr. Turlove stated the Parks Department had a study done to look at different ways the City could implement park impact fees. The Parks & Recreation Advisory Committee will review the study results and make a recommendation to Council. The discussion was completed. 6.C 20-0446 Transportation Concurrency and Impact Fee Program Updates Public Works Deputy Director Mark Russell, Transportation Planning Supervisor Sophie Stimson and Fehr and Peers Principal Chris Breiland gave the update. They reported that as they put together the Transportation Master Plan, they are working toward a unified approach to building the City street system that is predictable and transparent, advances the Olympia Comprehensive Plan vision and goals, and includes 20-year prioritized project lists. The City’s goal is to have transportation concurrency which means the City builds a minimum level of new infrastructure to support growth and add capacity for new transportation including walking, biking and transit. To do so, Transportation is looking at changes to impact fees and will reach out to stakeholders and hold public hearings on the subject. The discussion was completed. 6.D 20-0624 Approval to Distribute the Washington Center for the Performing Arts’ 2020 Lodging Tax Appropriation Using Lodging Tax Fund Balance Assistant City Manager Debbie Sullivan reported Council appropriated 2020 Lodging Tax funds to the Washington Center for the Performing Arts (WCPA). Ms. Sullivan recommended using Lodging Tax fund balance to address the revenue gap so the WCPA would receive the full 2020 budget appropriation. Chair Cooper will report this action to Council. The discussion was completed. 6.E 20-0639 Briefing on Second Quarter Budget to Actual Report Budget Analyst Joan Lutz reported the City budget is at 39% of its 2020 budget for the second quarter. She stated property taxes have come in slower due to COVID-19 payment deferral, the City will not see revenues from excise taxes until at least August, and there was a significant reduction in recreation services due to COVID-19 shutdown of activities. The report was received. 7. REPORTS AND UPDATES City of Olympia Page 2 Finance Committee Meeting Minutes August 19, 2020 Committee member Parshley reported the LOTT Board approved a 3% rate increase and will have their final vote in October. Chair Cooper reported the City is starting the audit process and he will be representing the City Council for the process. 8. ADJOURNMENT The meeting was adjourned at 7:42 p.m. City of Olympia Page 3