2019-10-28 Finance Minutes - Laserfiche WebLink

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City of Tukwila City Council Finance Committee FINANCE COMMITTEE Meeting Minutes October 28, 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, Eric Dreyer, Juan Padilla, Wynetta Bivens, Gail Labanara, Tony Cullerton, 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. Tax Levy Legislation Staff is seeking Council approval of two annual ordinances relating to property tax: one that would increase the City's Regular Property Tax Levy from 2019, and one that would levy general and excess property taxes. According to the King County Assessor, the projected assessed value for Tukwila is $7,329,542,191. The ordinance to set the general tax levy also includes the excess levy related to the Public Safety Plan, which will be assessed as long as the bonds are outstanding. The total excess levy requirement for 2020 is $3,450,000 with an approximate levy rate of $0.47 per thousand. The maximum allowable levy is estimated to be $3.50180, but due to the 1% limitation, the preliminary levy rate is estimated to be $2.23978. UNANIMOUS APPROVAL. FORWARD TO NOVEMBER 12, 2019 COMMITTEE OF THE WHOLE. B. Non -Represented Employees' Compensation Staff is seeking Council approval of a 20201.53% cost of living increase for the non -represented employee group to keep pace with the market and maintain internal equity with the represented employee group. Staff also recommends moving to a market -based compensation system as the decision band methodology (DBM) no longer supports the Council's policy and is inadequate with regard to regression analysis and its inability to have multiple benchmark positions. Committee members asked clarifying questions and expressed support for the proposal. UNANIMOUS APPROVAL. FORWARD TO NOVEMBER 12, 2019 COMMITTEE OF THE WHOLE.