Finance Committee

City Hall Meeting Minutes 601 4th Avenue E Olympia, WA 98501 Finance Committee Information: 360.753.8244 Wednesday, September 15, 2021 5:30 PM Online and Via Phone Register to attend: https://us02web.zoom.us/webinar/register/WN_WgHSrMBUS9Km00rvncn0gA 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 Lisa Parshley and Committee member Cheryl Selby 3. APPROVAL OF AGENDA The agenda was approved. 4. PUBLIC COMMENT Karen Messmer spoke. 5. APPROVAL OF MINUTES 5.A 21-0896 Approval of August 18, 2021 Finance Committee Meeting Minutes The minutes were approved. 5.B 21-0897 Approval of July 21, 2021 Finance Committee Meeting Minutes The minutes were approved. 6. COMMITTEE BUSINESS 6.A 21-0895 Preliminary 2022 Operating Budget Discussion Assistant City Manager Debbie Sullivan and City Manager Jay Burney presented the General Fund and Operating Budget history from 2015. They also discussed 2021 revenue and expenditure assumptions, community and Council priorities, the calendar for the 2022 budget process, and gave a list of future budget topics the Committee would need to discuss. City of Olympia Page 1 Finance Committee Meeting Minutes September 15, 2021 Mr. Burney reported the 2022 budget is currently out of balance by about $2 million. He listed some potential budget balancing options: increase revenue projections; use possible 2020 year-end funds; take additional expenditure reductions; or use budget stabilization reserves. The discussion was completed. 6.B 21-0880 Utility Budgets and Rates Briefing Waste ReSources Director Gary Franks reported there is no rate increase planned for 2022. Water Resources Director Eric Christensen reported a recommended 1% rate increase in drinking water rates and a 6% City increase to wastewater rates. Mr. Christensen also said LOTT will have a 3% rate increase. He reported a recommended 1% storm and surface water rate increase for residential customers and a proposed new rate structure for commercial customers. The report was received. 7. REPORTS AND UPDATES Mr. Burney reported the City's new Finance Director Aaron BeMiller, formerly from the City of Shelton, will start on September 16. 8. ADJOURNMENT The meeting adjourned at 7:20 p.m. City of Olympia Page 2