Finance Committee

City Hall Meeting Minutes 601 4th Avenue E Olympia, WA 98501 Finance Committee Information: 360.753.8244 Wednesday, September 20, 2023 5:30 PM Room 207, Online and Via Phone Register to Attend: https://us02web.zoom.us/webinar/register/WN_E-Nk6d6ZSEmLL2RIKxLHQw 1. CALL TO ORDER The meeting was called to order at 5:32 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 23-0809 Approval of August 30, 2023 Finance Committee Meeting Minutes The minutes were approved. 6. COMMITTEE BUSINESS 6.A 23-0795 Indirect Cost Allocation Plan Update FCS Group Senior Project Manager Martin Chaw gave a briefing regarding the City's updated indirect cost allocation plan. Committee members asked clarifying questions. The discussion was completed. 6.B 23-0774 Transportation Impact Fee Briefing Transportation Director Sophie Stimpson gave a briefing on transportation impact fees. Committee members asking clarifying questions. City of Olympia Page 1 Finance Committee Meeting Minutes September 20, 2023 The information was received. 6.C 23-0796 2024 Proposed Budget Update City Manager Jay Burney and Budget Manager Joan Lutz shared an update on the 2024 proposed budget. The City has a 900,000 dollar budget deficit that it must close. Budget process and revenue assumptions were discussed, as well as the process and timeline to approve the final operating budget. Committee members asked clarifying questions. The discussion was completed. 7. REPORTS AND UPDATES - None 8. ADJOURNMENT The meeting was adjourned at 8:36 p.m. City of Olympia Page 2