FC052317FINANCE COMMITTEE MEETING
May 23, 2017
Elected Officials Present
Councilmember Diane Buckshnis (Chair)
Councilmember Dave Teitzel
Staff Present
Scott James, Finance Director
Dave Turley, Assistant Finance Director
Phil Williams, Public Works Director
Rob English, City Engineer
Scott Passey, City Clerk
Bertrand Hauss, Transportation Engineer
Andrew Pierce, Legislative/Council Assistant
Jeannie Dines, Recorder
The meeting was called to order at 7:55 p.m. in Council Chambers.
Finance Policy Review Process
Mr. James distributed an MSRC article, "Which Financial Policies Work Best? It Depends" written by
Mike Bailey, Finance Director for the City of Redmond.
Mr. Passey recommended adopting policies by resolution which that increases visibility, reflects
Council approval and resolutions are quickly and easily searchable on the City's website.
Committee members and staff reviewed several policies including the following and suggested minor
revisions:
• Contracting and Purchasing Policies and Procedures
• Investment Policy (adopted via Resolution 1338)
Discussion included adopting policies via resolution versus ordinance, Ordinance 3789 regarding
financial reporting and Resolution 1226 adopting a financial policy, cost of requiring contractors to use
apprentices, applicability of apprentice requirements to Public Works projects only, purchases/projects
requiring written quotations versus competitive bids, having the Washington Public Traders
Association (WPTA) certify the City's policies, designing policies that fit Edmonds, diversifying the
investment portfolio, facilities condition index and pavement condition index, building depreciation, the
City's guarantee of the PFD bonds, and creating a debt policy.
To Do:
• Search ordinances and resolutions related to financial policies
• Research dollar amount for limited Public Works process and consider an increase to $50,000
• Recommend the Public Safety & Personnel Committee consider the City's bidding policy in regard
to "socio-economic equity."
2. Briefing on the 2018-2023 Six -Year Transportation Improvement Program
Staff responded to questions regarding projects on the 2018-2023 TIP and discussion followed
regarding the requirement to identify a project to address a failed level of service (LOS), projects to
cut if a 10% reduction was required, mini roundabout versus a signal at Main & 91h, modeling of Main
& 9th intersection that suggests a mini -roundabout would be more effective, whether there has been a
Council decision about a mini roundabout at Main & 9th, installation of trackside warning system in
2017 pending BNSF approval, and the total cost of the Waterfront Connector.
05/23/17 Finance Committee Minutes, Page 2
Suggestions:
• Have TIP and other plans come through Finance Committee to consider financial implications
• Add the improvement in the LOS to the project description
Action: Public hearing on July 6.
3. Miscellaneous
Committee members thanked staff for restriping Sunset. Mr. Williams recalled Council told staff to
work with property owners on Sunset to identify additional parallel parking spaces further north; staff
is not having much success getting residents' permission to install additional parallel parking.
Councilmembers Buckshnis and Teitzel clarified Sunset is a public street; the Council's request was
to get residents' input, not permission.
The meeting was adjourned at 9:25 p.m.