2017-10-03 Finance Minutes - Laserfiche WebLink

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Finance Committee Minutes October3, 2017 construction of buildings in the Plan should be completed as stated. Staff offered to work with the Committee to develop a written proposal to present to the full Council, identifying philosophies which could include one-time revenues, ending fund balance, or others. Each Committee member spoke in support of committing to delivery of the full Public Safety Plan. Chair Seal noted that the City is embarking on Priority -Based Budgeting and this will be an opportunity to rethink the entire City budget, which will also help the Council work through the Public Safety Plan financing. Councilmember McLeod stated that he wants all options on the table, and that firm numbers will not be available until 2018. Councilmember Hougardy asked what escalator was used in the construction estimates. Staff confirmed that it was 3% based on historical trends and in reality, the market is showing 10-20% The Committee agreed that this work will largely occur in 2018 and they do not need staff to return with options this year. DISCUSSION ONLY. III. MISCELLANEOUS Chair Seal informed the committee that work on the compensation policy was not going to progress this year due to collective bargaining, and that the Committee had agreed earlier that these efforts should not be simultaneous. Because it is nearly time to set the 2018 compensation for non - represented employees, she suggests finding a comparable percentage with what the teamsters contract ends up at. This item will return to Committee. Staff suggested that next year's Finance Committee address compensation as early in the year as possible. Adjourned at 6:26 p.m. HJT.. Committee Chair Approval Minutes by LH