2017-04-04 Finance Minutes - Laserfiche WebLink

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FINANCE COMMITTEE Meeting Minutes • . f 1 • City Council Finance Committee April 4, 2017 - 5:30 p.m. - Hazelnut Conference Room, City Hall Councilmembers: Verna Seal, Chair; Kathy Hougardy, Thomas McLeod Staff: David Cline, Peggy McCarthy, Vicky Carlsen, Stephanie Brown, Erika Eddins, Cyndy Knighton, Anthony Murrietta, Laurel Humphrey CALL TO ORDER: Chair Seal called the meeting to order at 5:30 p.m. I. PRESENTATIONS II. BUSINESSAGENDA A. Ordinance: Updating Structure of Public Safety Bond Financial Oversight Committee Staff is seeking Council approval of an ordinance that would amend Ordinance 2509 to make specifications about the makeup of the Public Safety Bond Financial Oversight Committee more general. The original ordinance specified that the Committee would include five members comprising two residents, two members of the business community, and one member from a nonprofit located in Tukwila. The Council later adopted a Charter for the Committee by Resolution 1892 that specified five members comprising two residents, two members from the business community, and one "at- large" member who could be from the residential, business or nonprofit category. The proposed ordinance specifies only "at least five members" so that if future changes are desired by Council or necessitated by circumstance, only the Charter will need to be amended. As requested at the last Committee meeting, staff returned with City Attorney advice about how to better define "economic life of the Project" with regard to the Committee's duration. Councilmembers discussed the provided options and directed staff to amend the draft ordinance by replacing "for the economic life of the Project" with "until all bonds related to the Project are issued, unless earlier disbanded by a majority vote of the City Council." UNANIMOUS APPROVAL. FORWARD TO APRIL 17, 2017 REGULAR CONSENTAGENDA. B. Employee Compensation Policy Staff provided the Committee with an assessment of the current employee compensation policy as outlined in Resolution 1796. Human Resources has found it to be useful for establishing compensation for non - represented employees and in collective bargaining as it provides clear direction for external market analysis and provides an objective framework. Challenges have typically been when benchmark positions are not available for comparison. INFORMATION ONLY.