2019-09-23 Finance Minutes - Laserfiche WebLink

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Finance Committee Minutes September23, 2019 The Committee asked that the Summary section include a few more sentences highlighting trends and possible long-term impacts to the budget, such as the downward trend for telephone tax. Chair McLeod noted that Foster Golf is over allocated budget and he hopes there is a plan to finish the year within budget. DISCUSSION ONLY. FORWARD TO OCTOBER 14, 2019 COMMITTEE OF THE WHOLE. D. Non -Represented Employees' Compensation Staff updated the Committee on the status of Resolution 1951, which modified and restated the employee compensation policy. The update included new reporting requirements, expanded the number of comparable cities, adjusted the guidelines on positions more than 5% below or 10% above market, simplified language around compression, and added annual policy review. Staff reviewed the status of implementation of the provisions of Resolution 1951 as described in the memo. Staff noted the limitations of the Association of Washington Cities' annual salary survey and asked if there was committee interest in either polling comparable cities for information on each non -represented position or contracting with an outside firm. The Committee asked staff to return with the cost benefit of both options. Staff recommends moving away from a Decision Band Method (DBM) compensation system to a market -based system and will return with a proposed process to explore this option. RETURN TO COMMITTEE OCTOBER 14, 2019 E. Cash & Investment Report Staff presented the 2019 1st and 2nd Quarter Cash and Investment Report, including information on the City's portfolio components, performance, policy compliance and liquidity analysis, fund cash and investment balances, and investment environment. At June 30, 2019, the portfolio totaled $69.3 million comprising $50.6 million in cash and cash equivalents and $18.7 million in longer term investments. Investments are within the standards of the City's Investment Policy, which staff intends to review and update in 2020. DISCUSSION ONLY. F. RCW 35.103 Fire Departments - Performance Measures Chair McLeod stated that the Committee intends to increase standards of accountability for the Fire Department and its budget. He referenced the requirements in the Revised Code of Washington regarding the service delivery objectives policy statement and the annual report. He also referenced a performance measures compliance guide issued by the Washington State Council of Firefighters and the Washington Fire Chiefs Association, asking if City Administration was familiar with the guide. Staff is familiar with the guide and also plans to bring a memo and discussion on service levels to the next Committee meeting, including information about compliance with the annual reporting requirement. Committee members and staff discussed the process for billing false alarms, which has not been done yet. The process allows the first two false alarms free, so it will take some data analysis. Fire and Finance are working together on implementation. Councilmember Quinn said he is interested in clarity and additional reporting mechanisms to better equip the Council going into budget review. Councilmember Seal stated the Council needs a clear understanding of the cost of fire service and yearly budget amendments should not continue. Chair McLeod closed by commenting an effective annual report will be a good tool for Council as well as the community. RETURN TO COMMITTEE.