2019-01-28 Finance Minutes - Laserfiche WebLink

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City of Tukwila City Council Finance Committee FINANCE COMMITTEE Meeting Minutes *;HO;LS ǴǺț Ǵǲǳǻ ǷȜǵǲ JȚGȚ (;T?FHON #IH@?L?H=? 2IIGț #CNS (;FF Councilmembers: Thomas McLeod, Chair; Verna Seal, DeSean Quinn Staff: David Cline, Peggy McCarthy, Vicky Carlsen, Bruce Linton, Jeff Friend, Aaron Williams, Laurel Humphrey CALL TO ORDER: Chair McLeod called the meeting to order at 5:30 p.m. I. PRESENTATIONS II.BUSINESS AGENDA A. Resolution: Business License Exemption for Outside Contractors Staff is seeking Council approval of a resolution that would update the business license fee schedule to exempt businesses without a physical presence and where gross revenue does not exceed $2,000. Following the adoption of this resolution the City can official transition the business license function to the State effective March 28, 2019. UNANIMOUS APPROVAL. FORWARD TO FEBRUARY 11, 2019 COMMITTEE OF THE WHOLE. B. Ordinance: Correcting General Fund in the 2019-2020 Biennial Budget Staff is seeking Council approval of an ordinance that would correct a math error in the previous budget adoption ordinance, wherein $900k in property tax and sales tax revenue were not reflected per the Councils direction. Once corrected, the final budget books will be printed and distributed. Chair McLeod asked if this error would result in any process changes. Finance staff is planning to reevaluate and improve the internal budget development process overall. Staff asked for Committee permission to bypass Committee of the Whole in order to expedite the distribution of the budget books. UNANIMOUS APPROVAL. FORWARD TO FEBRUARY 4, 2019 REGULAR MEETING. C. November 2018 General Fund Expenditure Report Staff presented the Committee with a financial update through November 2018, which describes the general state of departmental expenditures and to highlight significant trends. General Fund expenditures totaled $54.6 million as compared to the allocated budget of $57.9 million. When compared to the allocated budget, Human Resources, City Attorney, Court, Fire and Technology & Innovation Services are above budget. It is expected that when compared to the full budget at year-end these departments will be near or below budget. Staff will bring the preliminary December report to Committee when available, then present the year-end report to the full Council. DISCUSSION ONLY.