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City of Tukwila <br />Public Safety Bond Financial Oversight Committee <br />November 5, 2019 <br />City Hall Hazelnut Conference Room <br />4:00 p.m. <br />Attendees: Sean Goode, Andy Reiswig, Jessica Jerwa, David Cline, Laurel Humphrey, Vicky Carlsen, Tony <br />Cullerton, Aaron Williams <br />MINUTES <br />I. Call to Order <br />II. Roll Call <br />Committee members: Sean Goode, Chair, Jessica Jerwa, Vice -Chair, Andy Reiswig <br />Absent: Jun Castillo, Randy Coplen <br />III. Approval of Agenda <br />The agenda was approved by unanimous consent. <br />IV. Approval of Minutes <br />The April 11, 2019 meeting minutes were approved by unanimous consent. <br />V. New Business <br />1. Public Safety Plan Project Update <br />Staff presented an overview of the Public Safety Plan status and projects. Construction is <br />underway with Fire Station 51 occupancy expected in July 2020, Justice Center occupancy in <br />October 2020, and Fire Station 52 by March 2021. The City's bond rating was recently <br />upgraded to AA+ which means significant cost savings resulting from the favorable interest <br />rate. The Fire Department is holding a "Push -In Ceremony" on November 13 for two new <br />engines. The Committee is invited to attend as well as take site tours. <br />2. Public Safety Plan Financial Overview <br />The Committee reviewed the original and revised revenue and expenditure budgets for the <br />Public Safety Plan. Total actual revenues through October 28 are $39,714,352 from the voter - <br />approved bond, fire impact fees, real estate excise tax, investment interest, and rental <br />income. The total for actual and projected revenues is $132,085,273. The total expenditure <br />budget change is $39,634,107. <br />1 <br />