Finance Committee

City Hall Meeting Minutes 601 4th Avenue E Olympia, WA 98501 Finance Committee Information: 360.753.8244 Wednesday, July 19, 2023 5:30 PM Room 112, Online and Via Phone Register to Attend: https://us02web.zoom.us/webinar/register/WN_o_E3hKo1QkCb11JhcK4UvQ 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 23-0627 Approval of May 31, 2023 Finance Committee Meeting Minutes The minutes were approved. 5.B 23-0628 Approval of June 21, 2023 Finance Committee Meeting Minutes The minutes were approved. 6. COMMITTEE BUSINESS 6.A 23-0618 Budget Spotlight: 2022 Financial Audit Accounting Manager Kensey Wang reported the City's 2022 audit was clean with no findings. The report was received. 6.B 23-0616 Transportation Funding Including Sidewalk Revenue Transportation Director Sophie Stimson and Project Engineer II Joey Jones updated the Committee on pavement management, sidewalk funding, and Transportation Benefit City of Olympia Page 1 Finance Committee Meeting Minutes July 19, 2023 District revenue options. Committee member Madrone moved, seconded by Committee member Cooper, to recommend to City Council a 0.1% increase in sales tax through the Transportation Benefit District for transportation funding as part of the 2024 budget process, while maintaining the existing $40 license fee. The motion carried by the following vote: Aye: 3 - Chair Parshley, Committee member Cooper and Committee member Madrone 6.C 23-0617 2024 Budget Process Update Finance Director Aaron BeMiller reviewed the 2024 budget process and timeline. The discussion was completed. 7. REPORTS AND UPDATES Finance Director BeMiller reported the August 16 Finance Committee meeting has been moved to August 30. Mr. BeMiller reported the budget team won the GFOA Budget Award for the 2023 Operating Budget document. 8. ADJOURNMENT The meeting adjourned at 7:16 p.m. City of Olympia Page 2