2019-09-23 Finance Minutes - Laserfiche WebLink

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City of Tukwila City Council Finance Committee FINANCE COMMITTEE Meeting Minutes September23, 2019 - 5:30 p.m. - Hazelnut Conference Room, City Hall Councilmembers: Thomas McLeod, Chair; Verna Seal, De'Sean Quinn Staff: David Cline, Vicky Carlsen, Jay Wittwer, Bruce Linton, Juan Padilla, Erika Eddins, Wynetta Bivens, Gail Labanara, Aaron Williams, Henry Hash, Trish Kinlow, Tony Cullerton, Jeff Friend, Laurel Humphrey CALL TO ORDER: Chair McLeod called the meeting to order at 5:30 p.m. I. PRESENTATIONS II. BUSINESS AGENDA A. Resolution: Cancellation of Uncollectable Accounts Staff is seeking Council approval of the annual resolution that would declare the cancellation of uncollectible accounts receivable. The total for this year includes Police Department false alarm fees equaling $2,350.00 and miscellaneous billings equaling $50,840.56 for a total of $53,190.56. This is an accounting practice that will reduce the accounts receivable balance but these accounts are still being actively worked for collection, except for those accounts where a responsible party cannot be identified or accounts covered by bankruptcy law. Chair McLeod asked that the memo be updated to include historical data for the past few years. UNANIMOUS APPROVAL. FORWARD TO OCTOBER 7, 2019 REGULAR CONSENT AGENDA. B. Resolution: Cancelling Abandoned or Unclaimed Property Staff is seeking Council approval of the annual resolution that would declare the cancellation of abandoned or unclaimed property that is owed to individuals or business owners in time for reporting to the Washington State Department of Revenue Unclaimed Property Section by November 1, 2019. This year's report includes the cancellation of outstanding claims in the total amount of $10,150.18. UNANIMOUS APPROVAL. FORWARD TO OCTOBER 7, 2019 REGULAR CONSENT AGENDA. C. 2019 2nd Quarter Financial Report Staff presented a summary of the 2019 2nd Quarter financial report, including budget variances, sales and property tax and other revenues, expenditures, departments, fund balance, special revenue funds, capital projects, enterprise funds, and internal service funds. Through June 30, 2019, General Fund revenues exceed expenditures by $617 thousand. General Fund revenues were $178 thousand over allocated budget and expenditures were under allocated budget by $156 thousand.