COW 2019-12-09 Item 2 - Presentation - Public Safety Bond Financial Oversight Committee Report

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chose to remove construction of a new Station 54 from the plan, although Councitmembers expressed support for rehabilitation. 2. Public Safety Plan Financial Overview The Committee reviewed the original andrevsedrevenueandexpenditurebudget for the Public Safety Plan. Total actual revenues through April 5are $4O'2l3'245from the voter - approved bond'fineimpactfees'rea|estateexcisetax`investmentinterest'andrentai income. The total for actual and projected revenuesis $l27'67S'333.The total expenditure budget change is$35'5IS'O77.The remainder ofthe voted debt, $4O'675'04G'along with $17.5M in Counci[manic bonds will be issued in 2019. The City will save on bond issuance costs by doing both at the same time. Staff updated the Committee regarding alternates at Station 51. The Council approved budget for 4 of 7 items that had been identified as desirable features not included in the original budget: fire hydrant in the back, bi-fold doors, rough -in for new SCBA gear washer, and underground utilities for future fueling station. The [ounci|hadeadie/approvedbudgettomakeStadon52a"drive-through''stationsothat large apparatus will not have to backup into the station. Mr. Goode asked staff toclarify revenue sources beyond the voter -approved bond. The primary sources are fire impact fees, REETl'and property sales. Mr. Reisvvigasked about the impacts 10other city activities. While fire impact fees can onk/be used for fire related purposes, money from property sales and REET 1 could be used for other purposes. Mr. Goode asked if this budget situation could have been avoided. Mr. Conten stated that construction costs are difficult to predict and market driven. Mr. Goode reiterated that resources are being redirected from other activities. Mr. Reiswigasked why the [and acquisition budget for the Justice Center went from $6M to over $15M. Staff responded that the original budget numbers were formula based' and |and/rea|estate had significant increases once locations were identified. 3, Expenditure Reports The Committee reviewed actual Public Safety Plan expenditures through April 5, 2019 including adetailed list and current contracts. Actual expenditures through April 5'2Ol9are $26'090`864. The Committee also reviewed a current list of contracts for service associated with the Public Safety Plan. * Staff noted that the City Council recently appointed Mr. Goode, Ms. Jerwa, and Mr. Coplen to second terms onthe Committee. During the Finance Committee discussion onthe reappointments, Councilmember Quinn stressed the importance of the Oversight Committee and asked staff to ensure that its members have the City support needed to be effective. He also suggested that the Oversight Committee consider Mr. Goldbtatt as resource, and to look for opportunities toengage with the community. Staff asked the Oversight Committee for comments. Mr. Castillo stated that he finds the Committee to be effective and the right people are atthe table. Hedoes get questions from other community members and heisable tushare the information. Mr. Coplen noted that the Committee reviews the reports provided, so it's hard tocomment onwhat else the City could offer. Mr. Goode stated that hesees the purpose ofthe Committee is to review the financial reports and ask about outliers, delays, disputes and other ~"�