Finance Committee

District 1 District 2 District 3 District 4 District 5 District 6 District 7 Joseph Eatmon, Sr. Raevan Howard Norman Crow Lee Busby Kip Tyner John Faile Cassius Lanier Member Vice Chairperson Chairperson Alternate Council Finance Committee Meeting Agenda Tuesday, September 16, 2025, Daugherty Conference Room 3:00 p.m. TOPIC PRESENTER SUPPORTING MATERIAL Approval of Minutes NEW BUSINESS 1. Approval of disbursement from the District 6 Improvements Fund for Councilor Faile the Crossroads Angel Tree Program; total: $1000.00 (OCA-25-1255) 2. Resolution authorizing binding coverage and payment of premium for Scott Holmes 2 Police and Fire supplemental pension insurance for Fiscal Year 2025 (OCA-25-1185) 3. Authorization to submit an application for an Appalachian Regional Carly Standridge 3 Commission (ARC) grant for the Saban Center 4. Authorization of agency funding agreement with PARA; total: Carly Standridge $24,637.50 (OCA-25-1155) 5. Fiscal Year 2026 Operating Budget discussion Chairperson Busby ADJOURN 1 APPROVED AS TO FORM Prepared By: JPW Requested: Finance Date: 9/16/25 Council Presentation: 9/23/25 Office of the City Attorney Suspension of Rules: No RESOLUTION RESOLUTION AUTHORIZING BINDING COVERAGE AND PAYMENT OF PREMIUM FOR POLICE AND FIRE SUPPLEMENTAL PENSION INSURANCE FOR FISCAL YEAR 2025 (OCA-25-1185) BE IT RESOLVED BY THE CITY COUNCIL OF TUSCALOOSA as follows: 1. The City of Tuscaloosa does hereby obtain certain Fiduciary Liability insurance coverage for the City of Tuscaloosa Police Officers and Firefighters Supplemental Retirement Plan through the agency of USI Insurance Services, LLC, for the annual premium payment not to exceed $5,712.00 with coverage, policy limits, and other terms and conditions as described in the Insurance Proposal dated August 21, 2025, and desires to renew that policy effective October 1, 2025. 2. The Mayor is authorized to execute any documents necessary to effect and bind such insurance coverage, and the City Clerk is authorized to attest the same. 3. Procurement of insurance does not constitute the waiver of any defense or limitation of liability otherwise provided by law. 4. The Chief Financial Officer is hereby authorized to make said premium payments in accordance with invoices submitted and/or arrangements made with insurance company and insurance agency, whether as a single payment or on a monthly, or other periodic basis, and the Mayor and City Clerk are authorized to execute and attest any checks necessary for such payments. COUNCIL ACTION FUNDING REQUIRED: Yes No Resolution Ordinance Introduced Passed 2nd Reading Unanimous Failed Tabled By: Amended Chief Financial Officer Comments: 2  MEMORANDUM To: Finance Committee CC: Carly Standridge, CFO: Audrey Buck, Saban Center Director Date: September 16, 2025 Subject: Saban Center – Appalachian Regional Commission Grant Accounting & Finance and the Saban Center are seeking approval to submit a grant application to the Appalachian Regional Commission (ARC) through the Alabama Department of Economic and Community Affairs (ADECA). Scope Purchase equipment for the Saban Center Career Lab which will allow students to connect Saban Center experiences and classroom learning to STEM career pathways. Funding Funding request: $1,000,000 Local match: $1,000,000 Total: $2,000,000 Impacted Area City-wide 3