Finance Committee

Regular Meeting of the Finance Committee Held in the Conference Room at City Hall Thursday, November 3, 2016 Notice of this meeting was given to the public in compliance with Sections 10-15-1 through 10-15-4 NMSA 1978 and Resolution 16-69. ROLL CALL The meeting convened at 8:00 a.m. with Chairman Grant presiding and Councilors Perry, Denny and Henderson being present. Staff present: Rod Hogan, Monica Garcia, Janice Self, Juanita Jennings, Elizabeth Stark-Rankins, Sharon Coll, Art Torrez, Kevin Dillon and Bill Morris. Guests present: Dennis Kintigh, Savino Sanchez, Amy McVay Davis, Erik Harrigan and Keith Paceley. APPROVAL OF AGENDA and MINUTES Councilor Perry moved to approve the November 3, 2016 Finance Committee Meeting agenda by moving Non Action Items 7 and 8 to Regular Action Items and also approve the minutes from the October 13, 2016 Finance Committee meeting as presented. Councilor Henderson was the second. A voice vote was unanimous and the motion passed. NON-ACTION ITEMS Informational Reports: Staff and committee members discussed the reports. Committee members would like for staff to include GRT reports to the informational reports. Bonding Information – Recreation Center/Aquatics (RBC Capital Markets): Mr. Harrigan from RBC Capital Markets gave a presentation on financing options for the recreation center/aquatics. The two types of bonds and sources of payment are through a General Obligation Bond or Gross Receipts Tax Bond. Mr. Harrigan went on to explain the pros and cons of both options. Water & Sewer CPI Rate Change: Ms. Stark-Rankins discussed the changes being made to the water and sewer CPI rate. According to Ordinance 13-02 Water & Sewer rates will be adjusted on an annual basis beginning January 1, 2017. The adjustment shall be per the CPI-U. The percentage for August 2015-August 2016 is 3.7, but will be adjusted according to the latest CPO-U closer to the January 2017 increase. Special Events & Lodgers’ Tax Process: Ms. Stark-Rankins explained that staff is working on a new process for Special Events & Lodgers’ Tax. Staff is looking at ways to streamline the process to make events more successful and also utilize everyone’s time more efficiently. Payment Schedule Policy & Request: Mr. Morris discussed the policy stating that an individual who is experiencing financial hardship has requested a payment schedule for the payment of development fees, business licenses and variance fees in order to open a business in the City. Public Participation: Keith Paceley Staff and Committee members had a brief discussion on the Payment Schedule Policy. Administration Budget Update: Ms. Stark-Rankins gave an update on the Administration Budget. Discussed were the expenses and budget for the City Manager position. ACTION ITEMS ITB-17-006 – Motor Grader Equipment: Mr. Dillon discussed ITB-17-006 – motor grader equipment. The Streets Department is in need of a smaller motor grader, primarily for maintaining alleys. The request is budgeted out of the FY 2017 Sanitation and Streets Departments. Councilor Henderson moved to approve on Consent agenda ITB-17-006 – Motor Grader Equipment in the amount of $172,105. Councilor Grant was the second. A voice vote was unanimous and the motion passed. ITB-17-001 – Main Street Pavement Rehabilitation Project: Mr. Dillon discussed ITB-17-001 – Main Street Pavement Rehabilitation Project. The project is the next phase of N. Main St. from Berrendo Rd. north to Pine Lodge Rd. This project is eligible for up to 85.44% reimbursement from NMDOT but all costs must be paid by the City upfront. The City has sent both bids to NMDOT for review and recommendation. No motion was made therefore item dies for lack of motion. Lodgers’ Tax Funding Request – Historical Society for Southeast New Mexico On-going Awareness: Ms. Self discussed the request. Amy McVay-Davis, Director of the Historical Society for Southeast New Mexico was present and shared details of the event. Councilor Denny moved to send on Consent agenda the Lodgers’ Tax Funding Request – Historical Society for Southeast New Mexico On-going Awareness in the amount of up to $3,000 on a reimbursement basis at 50% of eligible expenses. Councilor Perry was the second. A voice vote was unanimous and the motion passed. PUBLIC PARTICIPATION None ADJOURN The meeting adjourned at 9:24 a.m.