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04/10/2012 Finance CommitteeFINANCE COMMITTEE MEETING MINUTES April 10, 2012 Councilmembers Present Staff Present Councilmember Buckshnis Shawn Hunstock, Finance Director Councilmember Yamamoto Carrie Hite, Parks and Recreation Director Mayor Earling Deb Sharp, Accountant Carl Nelson, CIO Public Present Jeannie Dines, Recorder Ron Wambolt Roger Hertrich Bruce Witenberg Councilmember Buckshnis called the meeting to order at 7:19 p.m. She amended the agenda, moving Items D and E to the end. A. Ordinance to Establish Special Duty Pay Mayor Earling observed when the ordinance was presented to the Council previously, there was concern with the mayor granting up to 10% special duty pay. The proposed ordinance has been revised to authorize the mayor to grant up to 5% special duty pay and require Council approval for special duty pay above 5 %. Councilmember Buckshnis questioned the language in the ordinance regarding permanently assigned special duties and suggested 6 -12 months. Mayor Earling was agreeable to 12 months. Councilmember Buckshnis relayed concerns that private sector employees work overtime without receiving special duty pay. Mayor Earling emphasized the additional responsibilities of supervising another department. Councilmember Buckshnis also asked about ensuring the right fit for a special duty situation. Mayor Earling responded in this situation, the City is fortunate to have two directors with experience in Human Resources, Ms. Hite and Mr. Hunstock. The committee recommended approval of the ordinance with the proposed change to authorize the mayor to grant up to 5% special duty pay and require Council approval for special duty pay above 5 %. The committee also recommended changing permanent to up to 1 year. Action: Schedule for full Council discussion. B. Exploring a Metropolitan Park District Councilmember Buckshnis advised Councilmember Yamamoto will be the lead on this. It was agreed to form an exploratory committee; anyone interested in participating will be invited to join. Ms. Hite also suggested reaching out to stakeholder groups for representation on the committee. Ms. Hite, Mr. Hunstock and Councilmember Yamamoto will develop a framework for the committee. Ms. Hite recommended two committee meetings in both May and June with a recommendation to Council in July. Action: Form committee, hold meetings, and forward recommendation to Council in July. C. Quarterly Report Regarding Fiber Optic Opportunities Mr. Nelson distributed and reviewed costs to date and cumulative savings /revenues (Attachment 1). Finance Committee Minutes, Page 2 Discussion followed regarding development of a business plan. Councilmember Buckshnis suggested including funds in the 2013 budget to develop a business plan. Councilmember Yamamoto offered to assist with developing an outline for a business plan. Mr. Nelson suggested seeking the assistance of the Economic Alliance of Snohomish County which the City recently joined. Action: Information only. F. Finance Committee Mission Mr. Hunstock reviewed minor changes made to the mission statement and reported on his research regarding an audit committee. Councilmember Buckshnis was hopeful other committees would develop mission statements. She relayed Council President Peterson's plans to develop an ethics policy. Action: Scheduled for full Council discussion. G. General Fund Update — January 2012 Mr. Hunstock highlighted expenses that are above the monthly forecast due to payments made at the beginning of the year. The quarterly report will be revised to incorporate some items from Redmond's model. Action: Information only. H. General Fund Update — February 2012 Mr. Hunstock highlighted revenues that are over /under budget, pointing out utility taxes and sales taxes are slightly above the cumulative forecast and property taxes are below forecast because they are not received until May. Overall revenues are at 10% of budget (rather than 16% as would be expected in February) primarily due to property taxes. Mr. Hunstock reported the bonds have not yet been refinanced. Scott Bauer at A. Dashen and Associates is scheduling a rating call with Moody's. Action: Information only D. 2012 April Budget Amendment Councilmember Buckshnis commended Ms. Sharp for the very explanatory materials. Committee members and staff discussed specific amendments. Action: Schedule for full Council with Finance Committee recommendation for approval. E. Leakage Policy Mr. Hunstock explained the policy was revised to include a minimum adjustment amount to avoid adjustments for consumption increases. Action: Schedule on Consent Agenda. 1. Public Comments - None Adjournment — The meeting adjourned at 7:54 p.m.