2019-05-13 Finance Minutes - Laserfiche WebLink

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City of Tukwila City Council Finance Committee FINANCE COMMITTEE Meeting Minutes May 13, 2019 - 5:30 p.m. - Hazelnut Conference Room, City Hall Councilmembers: Thomas McLeod, Chair; Verna Seal, De'Sean Quinn Staff: David Cline, Vicky Carlsen, Jeff Friend, Bruce Linton, Jay Wittwer, Laurel Humphrey CALL TO ORDER: Chair McLeod called the meeting to order at 5:30 p.m. I. PRESENTATIONS II. BUSINESS AGENDA A. Resolution: Appointing the Finance Director as Designated Official for Bond Expenditures Staff is seeking Council approval of an ordinance that will appoint the Finance Director to designate certain expenditures for reimbursement from bond proceeds. This step currently requires a reimbursement resolution to be adopted by Council, so this will streamline the process by designating the Director to be responsible for issuing a statement of official intent to reimburse qualifying expenditures with issuance of debt. The City Council will still retain its authority to approve the capital project and to issue debt to fund the project. The Committee requested that the memo include additional language to clarify this point. UNANIMOUS APPROVAL. FORWARD TO MAY 20, 2019 REGULAR CONSENT AGENDA. B. March 2019 Departmental Budget-to-Actuals Report Staff presented the Committee with the March 2019 Financial Report, which describes the general state of departmental expenditures and highlights significant trends. General Fund expenditures totaled $16.4 million as compared to the allocated budget of $17.9 million. The allocated budget reflects year-to-date spending patterns of the previous year. 11 of 14 General Fund departments were under their allocated budget. Fire, Street Maintenance & Operations, and Community Development have overages due to pipeline positions and overtime costs, February snow events, and structural code compliance review respectively. Councilmember Quinn asked that the memo be updated to reflect the actual cost associated with the four unbudgeted pipeline positions. The Committee will be presented with a more in-depth review of the Fire Department budget at its next meeting. DISCUSSION ONLY.