Finance Committee

City Hall Meeting Minutes 601 4th Avenue E Olympia, WA 98501 Finance Committee Information: 360.753.8244 Wednesday, January 18, 2023 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 5:30 p.m. 2. ROLL CALL Present: 3 - Chair Lisa Parshley, Committee member Jim Cooper and Committee member Dani Madrone 3. APPROVAL OF AGENDA The agenda was approved. 4. PUBLIC COMMENT - None 5. APPROVAL OF MINUTES 5.A 23-0080 Approval of November 16, 2022 Finance Committee Meeting Minutes The minutes were approved. 6. COMMITTEE BUSINESS 6.A 23-0053 Budget Spotlight - 2024 Draft Budget Creation Calendar Budget & Finance Manager Joan Lutz presented the spotlight. Ms. Lutz went over the schedule for the 2024 Operating Budget that will be taking place in 2023. The discussion was completed. 6.B 23-0051 2023 Finance Committee Workplan The Committee discussed the 2023 Finance Committee Workplan. Committee member Cooper moved, seconded by Committee member Madrone, to recommend the 2023 Finance Committee Workplan to the full City Council for approval; noting the Workplan may be updated throughout the year as priorities change.The motion carried by the following vote: City of Olympia Page 1 Finance Committee Meeting Minutes January 18, 2023 Aye: 3 - Chair Parshley, Committee member Cooper and Committee member Madrone 6.C 23-0052 Fraud Loss Update Finance Director Aaron BeMiller gave the update. Mr. BeMiller went over the internal audit that occurred after the City experienced a fraud loss. He stated internal audits will now be a regular occurrence going forward. The City recuperated most of the loss minus insurance deductible. The report was received. 7. REPORTS AND UPDATES 23-0249 ADDED DURING THE MEETING - Recommendation for the City Council to Consider a Resolution Acknowledging Awareness of the Impacts of a Regional Fire Authority on Parks Funding City Manager Jay Burney reported the Parks and Recreation Advisory Committee and parks advocates are concerned about the ramifications on parks funding if the Regional Fire Authority (RFA) passes. Mr. Burney recommended that Council pass a resolution recognizing awareness of potential impacts to parks funding if the RFA passes a vote of the people. Committee member Madrone moved, seconded by Committee member Cooper, to approve a recommendation for the City Council to consider a resolution acknowledging impacts to parks funding if the Regional Fire Authority passes a vote of the people. The motion carried by the following vote: Aye: 3 - Chair Parshley, Committee member Cooper and Committee member Madrone 8. ADJOURNMENT The meeting adjourned at 6:42 p.m. City of Olympia Page 2