Finance Committee

City Hall Meeting Minutes 601 4th Avenue E Olympia, WA 98501 Finance Committee Information: 360.753.8244 Wednesday, January 17, 2024 5:30 PM Room 207, Online and Via Phone Register to Attend: https://us02web.zoom.us/webinar/register/WN_bKVZmQhTSbWLSYq2JO0mfg 1. CALL TO ORDER The meeting was called to order at 5:31 p.m. 2. ROLL CALL Present: 2 - Chair Lisa Parshley and Committee member Jim Cooper Excused: 1 - Committee member Clark Gilman 3. APPROVAL OF AGENDA The agenda was approved. 4. PUBLIC COMMENT - None 5. APPROVAL OF MINUTES 5.A 24-0069 Approval of November 15, 2023 Finance Committee Meeting Minutes The minutes were approved. 6. COMMITTEE BUSINESS 6.A 24-0054 2022 Fraud Loss Update Finance Director Aaron BeMiller gave an update on the 2022 fraud loss. The City was reimbursed a portion of the loss via insurance and also implemented a new policy and procedure to help prevent future cases. The discussion was completed. 6.B 24-0055 2024 Finance Committee Workplan Discussion Chair Parshley and Committee member Cooper, as well as City Manager Jay Burney, provided additions and changes to the 2024 workplan. The plan will be forwarded to the full City Council for approval. The discussion was completed. City of Olympia Page 1 Finance Committee Meeting Minutes January 17, 2024 7. REPORTS AND UPDATES Finance Director BeMiller gave an update on the bond rating of the City of Olympia. The City achieved an improved bond rating of ''Double A Plus'' due to stable financial performance and sound budget compliance. 8. ADJOURNMENT The meeting was adjourned at 6:37 p.m. City of Olympia Page 2