2023-08-08 Finance CommitteeFINANCE COMMITTEE MEETING
August 8, 2023
Elected Officials Present Staff Present
Councilmember Susan Paine Dave Turley, Administrative Services Director
Council President Neil Tibbott (ex-officio) Brian Tuley, Information Services Manager
Councilmember Vivian Olson Angie Feser, Parks, Rec. & Human Serv. Dir.
Jeff Taraday, City Attorney
Scott Passey, City Clerk
CALL TO ORDER
The Edmonds City Council Finance Committee meeting was called to order virtually and in the City
Council Conference Room, 212 — 5` Avenue North, Edmonds, at 5:30 p.m. by Councilmember Paine.
2. COMMITTEE BUSINESS
1. Ordinance for PFD Charter Amendment
Mr. Taraday explained a charter amendment was approved by city council in 2021 but no ordinance
was prepared. As the original charter was adopted by ordinance, charter amendments must also be
adopted by ordinance. While reviewing the updated 2021 charter, it was noticed an additional change
needed to be made to clarify that a board member would need to miss three "regular" meetings for
removal to be possible. That change has been made to the updated charter, and an ordinance has
been prepared.
Questions and discussion followed regarding whether the PFD Board approved the amendment to
include "regular." Mr. Turley will confirm the PFD board approved that change.
Committee recommendation: Consent agenda after confirming PFD Board approved that change.
2. Ordinance to Close Parks Trust Fund 136
Mr. Turley explained this is an administrative cleanup. The fund has not been used for several years
and the purposes for which the fund was established are being carried out by other funds. He
responded to a question regarding transferring money in the fund to other funds.
Committee recommendation: Consent agenda
3. Fiber Customer Price Adjustment
Mr. Tuley explained the City has two legacy fiber customers, one of the customers, the 110 James
Building, has requested an increase in the monthly contracted internet usage. This will result in
increased revenue to the City and a reduction in fluctuating overage charges for the customer.
Questions and discussion followed regarding capacity for other customers and the capital investment
to install fiber.
Committee recommendation: Consent agenda
4. June 2023 Monthly Financial Report
08/08/23 Finance Committee Minutes,
Mr. Turley responded to questions regarding annual interest income 2018 to 2023, monthly
expenditure report -General Fund, unusual expenditures in 2023, monthly expenditure report -
Community Services/Economic Development, investment portfolio, source of funds to vet the
purchase of the landmark property, and plans for an update on the landmark property at next week's
council meeting.
Committee recommendation: Second quarter financial report on council agenda next week.
3. ADJOURN
The meeting was adjourned at 6:01 p.m.
SCOTT PASSEY; CLERK