Long-Term Financial Policy and Audit Subcommittee

637 1st Street City of Santa Rosa Santa Rosa CA 95404 Long Term Financial Policy and Audit Subcommittee Meeting Minutes Monday, April 16, 2018 4:00 PM SPECIAL MEETING MINUTES - FINAL 1. CALL TO ORDER AND ROLL CALL The meeting was called to order by Mayor Coursey at 4:04pm. Present: 3 - Chris Coursey, Chris Rogers and John Sawyer Also Present: Deputy City Manager Gloria Hurtado, Acting Chief Financial Officer Alan Alton, and Acting Deputy Director of Finance Shelley Reilly. 2. PUBLIC COMMENTS None. 3. APPROVAL OF MINUTES Regular Meeting Minutes - February 8, 2018. Attachments: Regular Meeting Minutes - February 8, 2018 A motion was made by Coursey, seconded by Rogers, to approve as submitted. The motion carried by the following vote: Yes: 3 - Coursey, Rogers and Sawyer 4. SCHEDULED ITEMS 4.1 - AUDIT FOLLOW-UP - No audit items presented. 4.2 - REAL PROPERTY TRANSFER TAX (RPTT) DISCUSSION - Acting Chief Financial Officer Alan Alton initiated discussion regarding RPTT in relation to Affordable Housing funding. Discussion ensued. Council Member Rogers expressed support to increasing transfer amount 5% annually over the next 15 years for a final 100% contribution of RPTT revenue towards Housing (25% for Homless City of Santa Rosa Meeting Minutes Page 2 of 3 Long Term Financial Policy and Meeting Minutes April 16, 2018 Audit Subcommittee Services/75% for Affordable Housing). Council Member Sawyer expressed concern about how to execute the increase to Housing from RPTT in light of our current budget status. Council Member Sawyer requested additional discussion on this topic in the future. Mayor Coursey expressed similar concern to that of Council Member Sawyer. A motion was made by Councilmember Rogers to take the Real Property Transfer Tax suggested increase over time to the City Council. The motion failed due to lack of second. 4.2 Public Comments: Hugh Futrell voiced strong concern that additional dollars from RPTT should go to Affordable Housing. Ross Liscum expressed support increasing RPTT funds to go towards Housing Authority. 4.3 - LOCAL PREFERENCE DISCUSSION - Acting Chief Financial Officer Alan Alton initiated discussion regarding Local Preference within the procurement process, including current policy and options for the future. All council members made additional option suggestions and requested this discussion continue at future Long Term Financial Policy and Audit subcommittee meetings. 4.3 Public Comment(s): Brian Langstrom, expressed support for the local preference policy. 4.4 - REVENUE POLLING UPDATE - Acting Chief Financial Officer Alan Alton presented information regarding upcoming community polling. City of Santa Rosa Meeting Minutes Page 3 of 3 Long Term Financial Policy and Meeting Minutes April 16, 2018 Audit Subcommittee 5. NEXT MEETING AGENDA ITEMS Local Preference and RPTT discussions. 6. ADJOURNMENT The meeting was adjourned by Mayor Coursey at 5:06pm. Approved on: June 14, 2018 /s/ Dina Manis, Recording Secretary