Laserfiche WebLink
City of Tukwila My WebLink |HelpSearch Tips |About |Sign Out
FinanceCommittee Minutes.........................................................................................................................................April 3, 2018 <br /> <br />General Fund 2018 Expectations <br />D. <br /> <br />Sales tax revenue began to decline in mid to late 2016, resulting in a 2.0% reduction in total sales <br />tax revenue from 2015 and a 0.5% decline from 2016 to 2017. To mitigate the expected lack of <br />sales tax revenue in 2018, departments have committed to keeping expenditures at least 3% <br />below the amended budget. Savings can be realized by maintaining vacancies and monitoring <br />line items such as professional services, travel and training. Pipeline positions in the fire <br />department will be reduced as retirements occur. DISCUSSION ONLY. <br /> <br />Public Safety Plan Financing <br />E. <br /> <br />As follow up to the March 20, 2018 Committee meeting, staff identified $540K in potential savings <br />in the existing Capital Improvement Program, with ongoing reduction potential of $750K per <br />year. taff also prepared five potential scenarios for filling the <br />Public Safety Plan gap, incorporating varying strategies for funding and timing as outlined in the <br />memo and attachments. Committee members discussed the options, but expressed they are <br />unable to make a recommendation to the full Council without having a long-term financial model <br />that reflects the different strategies. Finance staff is currently working on a replacement for <br />Attachment A and will bring it to Committee when it is ready. The Finance Committee will be <br />prepared to work on its recommendation after reviewing the updated six-year plan. <br />DISCUSSION ONLY. <br /> <br /> <br /> <br /> <br /> <br />III.MISCELLANEOUS <br /> <br />Adjourned at 7:22 p.m. <br /> <br /> Committee Chair Approval <br /> <br />Minutes by LH <br />