FC080817FINANCE COMMITTEE MEETING
August 8, 2017
Elected Officials Present
Councilmember Diane Buckshnis (Chair)
Councilmember Dave Teitzel
Staff Present
Scott James, Finance Director
Dave Turley, Assistant Finance Director
Jeannie Dines, Recorder
The meeting was called to order at 7:06 p.m. in Council Chambers. Committee members and staff
briefly discussed action items at the last meeting. The Policy Matrix was added to the agenda.
June Quarterly Financial Report
Mr. Turley highlighted the following on the June Quarterly Report:
• The economy continues to do well
• Fund 112 revenues through June are at 14%, staff is behind on billing grants
• Fund 112 expenditures are only at 28%
• Building maintenance expenditures only at 24%
• REET 1 expenditures only at 1 %
• REET 2 expenditures only at 16%
• Water Fund expenditures only at 25% (investigate with Public Works staff)
Mr. James and Mr. Turley responded to questions and discussion followed regarding establishing a
procedure related to billing grants, hiring an additional staff person in Finance and including the position
in the 2018 budget, Fund 112 revenues versus expenditures, EMS Levy, increase in Woodway law
protection revenue, fire/emergency services to Woodway, traffic infraction penalties and NC traffic
infraction revenue, effect the decrease in infractions has on revenue, increase in investment interest,
building maintenance expenditures, capital budgeting, and Councilmembers attending budget training,
and hiring staff versus contracting. Committee members commended staff on increased investment
interest.
Staff will provide job description for new Finance position at September 12 Finance Committee meeting.
Action: Schedule on Full Council
2. Amendments to Chapter 3.75, Business Improvement District
Mr. Doherty reviewed proposed amendments. He and Mr. James responded to questions regarding
what category real estate offices are in, ability to appeal the business classification, maintenance
projects the BID proposes via their budget, and payment collection schedule.
Action: Schedule for short presentation to full Council on August 15
3. Amendments to Downtown Business Improvement District By -Laws
Mr. Doherty reviewed proposed amendments and responded to questions regarding the number of
board members and the number of BID members in collections for delinquent payments.
08/08/17 Finance Committee Minutes, Page 2
Action: Schedule on Consent Agenda
4. NEW ITEM: Policy Matrix
Mr. James distributed and reviewed a Finance Policy Matrix as of August 2017 and policy amendment
and development schedule. The following Finance Committee review schedule was established:
August 22 Contracting and Purchasing Policy
September 12 Capital Asset Policy
September 26 Facility Condition Report
October 10 Street Condition Report
October 10 Financial Reporting Policy and rescind Ordinance 3789
2018 Reserve Policy
Action: See above schedule
4. NEW ITEM: Admiral Way Sidewalk
Councilmember Teitzel provided a visual of the proposed location of a crossing on Admiral Way. The
next Port Commission meeting will include this as an agenda item. The Port has expressed willingness
to split the cost with the City. A brief discussion followed regarding the location and design of the
crossing.
Action: Finance Committee agreed with this being a Council decision package
The meeting was adjourned at 8:30 p.m.