Finance Committee

City Hall Meeting Minutes 601 4th Avenue E Olympia, WA 98501 Finance Committee Information: 360.753.8244 Wednesday, May 18, 2022 5:30 PM Online and Via Phone Register to Attend: https://us02web.zoom.us/webinar/register/WN_q-MoRg7sSserUS2nG7-4wg 1. CALL TO ORDER Chair Parshley called the meeting to order at 5:32 p.m. 2. ROLL CALL Present: 3 - Chair Lisa Parshley, Committee member Jim Cooper and Committee member Yến Huỳnh 3. APPROVAL OF AGENDA The agenda was approved. 4. PUBLIC COMMENT - None 5. APPROVAL OF MINUTES 5.A 22-0501 Approval of April 20, 2022, Finance Committee Meeting Minutes The minutes were approved. 6. COMMITTEE BUSINESS 6.A 22-0494 Budget Snapshot: Fund Balances Budget and Financial Analyst Joan Lutz presented the fund balance levels for each City fund. The report was received. 6.B 22-0493 City Investments Briefing Government Portfolio Advisors Senior Portfolio Advisor Dave Wescott gave an economic landscape overview and discussed the City's investment portfolio. The discussion was completed. 6.C 22-0495 Budget Sustainability and 2023 Budget Process Briefing City of Olympia Page 1 Finance Committee Meeting Minutes May 18, 2022 City Manager Jay Burney and Finance Director Aaron BeMiller gave a briefing on budget sustainability and discussed the bow wave that will hit in the 2023 and 2024 budgets. The discussion was completed. 7. REPORTS AND UPDATES - None 8. ADJOURNMENT The meeting adjourned at 7:35 p.m. City of Olympia Page 2