2017-10-17 Finance Minutes - Laserfiche WebLink

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Finance Committee Minutes October 17, 2017 C. Contract Amendment: PFM Financial Advisors, LLC Staff is seeking Council approval of a contract amendment with PFM Financial Advisors, LLC to extend the term expiration date through December 31, 2020 and to increase the "not to exceed" amount to $300,000. In addition to the refinancing of the 2014 urban renewal debt, the City has future plans to issue bonds for the Public Safety Plan. PFM provides technical expertise that benefits the city and helps obtain favorable interest rates. UNANIMOUS APPROVAL. FORWARD TO NOVEMBER 6, 2017 REGULAR CONSENT AGENDA. D. August 2017 Department Budgets -to -Actuals Report Staff provided a report on expenditures compared to allocated budget for each department for the month of August 2017. General fund expenditures were $3.5 million below budget. DISCUSSION ONLY. E. Fire Department Budget Staff provided a follow up regarding the Fire Department's anticipated budget overage due primarily to the additional pipeline positions authorized in 2016 and fewer retirements in 2017. There are currently 24 Fire personnel eligible to retire in three years or less and it was anticipated that pipeline positions would transfer into retirement vacancies. In 2017 there has been only one retirement, while the average has been three per year. As the next retirements occur, staff intends to not fill two of the pipeline positions, bringing the number back down to three. Staff is recommending a budget amendment of: $240,000 for salaries/benefits of two pipeline positions, $125,000 for hurricane deployment, which will be reimbursed to the City in 2018, and $35,000 in additional EMS levy funds that will be received this year. Staff also provided an overview of other anticipated budget amendments, noting that all amendments are considered housekeeping for transparency since the total general fund will be within budget. Councilmember McLeod asked for specifics on how fire overtime occurs. Factors include the rigorous JETC training program, which is a regional approach and requires additional training hours to obtain driver eligibility. 5-6 personnel have had on and off duty injuries this year. Fire investigation can occur at odd hours and there has been a significant arson investigation this year. Committee members discussed the information and requested that staff return to discuss the Fire Department budget again in the context of the full budget amendment package, and be prepared to clearly explain the details along with strategies for the future. They also requested information showing how the pipeline positions have kept salaries and overtime costs down. Committee members and staff briefly discussed the hurricane deployments, which are reimbursable to the City. Tukwila has long been committed to this type of aid, but decisions are made about how many people can be deployed to minimize the impact to service in Tukwila. RETURN TO COMMITTEE. III. MISCELLANEOUS Adjourned at 7:20 p.m. Committee Chair Approval Mi utes by LH