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City Council Finance Committee <br />FINANCE COMMITTEE <br />Meeting Minutes <br />November25, 2019 - 5:30 p.m. - Hazelnut Conference Room, City Hall <br />Councilmembers: Thomas McLeod, Chair; Verna Seal, De'Sean Quinn <br />Staff: David Cline, Vicky Carlsen, Jay Wittwer, Bruce Linton, Tony Cullerton, Joseph <br />Todd, Tami Eberle -Harris, Roman Linsao, Joel Bush, Laurel Humphrey <br />CALL TO ORDER: Chair McLeod called the meeting to order at 5:30 p.m. <br />I. PRESENTATIONS <br />II. BUSINESSAGENDA <br />A. Contract: GIS Services <br />Staff is seeking Council approval to renew an Enterprise License Agreement with ESRI in the <br />amount of $55,000 for an additional two-year term. The current agreement expires in January <br />2020 and has resulted in significant expansion of the city's GIS capabilities. The proposed <br />renewal includes uncapped quantities of desktop software and developer tools, 10,000 online <br />service credits, 100 user named licenses and multiple software extensions. Councilmembers <br />and staff discussed the cost benefit of the GIS program. Councilmember Seal asked for a report <br />of traffic sign related data. UNANIMOUS APPROVAL. FORWARD TO DECEMBER 2, 2019 <br />REGULAR CONSENT AGENDA. <br />B. 2019 3rd Quarter Investment Report <br />Staff presented the 2019 3rd Quarter Cash and Investment Report, including information on the <br />City's portfolio components, performance, policy compliance and liquidity analysis, fund cash <br />and investment balances, and investment environment. At September 30, 2019, the portfolio <br />totaled $62.5 million comprising $47.8 million in cash and cash equivalents and $14.7 million in <br />longer term investments. Chair McLeod pointed out that the investment portfolio is projected to <br />earn approximately $1.4 million for the year, which is significantly over the budgeted $848k. <br />DISCUSSION ONLY. <br />III. MISCELLANEOUS <br />Adjourned at 5:47 p.m. <br />Committee Chair Approval <br />Minutes by LH <br />