HomeMy WebLinkAbout2020-05-28 Finance Minutes4
City Councit•Committee
Meeting Minutes
May 28, 2020 - 5:00 p.m. - Electronic Meeting due to COVID-19 Emergency
Councilmembers Present: Verna Seal, Chair; Kathy Hougardy, Kate Kruller
StoffPresent: Vicky Carlsen, Jay Wittwer, Rachel Bianchi, Tony Cullerton, David Cline,
Laurel Humphrey
Chair Seal called the meeting to order at 5:00 p.m.
I. BUSINESSAGENDA
A. Ordinance: Reissuing Limited Tax General Obligation Bonds
Staff is seeking Council approval of an ordinance delegating authority to the Finance
Director to issue limited tax obligation bonds to refund the outstanding 2010B LTGO
bonds via a direct placement process. Refunding these bonds could result in net savings in
interest up to $70K.
Committee Recommendation
Unanimous approval. Forward to June 1, 2020 Regular Meeting.
B. Contract: City of Tukwila 2020 Facility Study
Staff is seeking Council approval of a contract with McKinstry in an amount not to exceed
$188,200 for Assessment and Planning Services for the 2020 Facility Study. Due to budget
constraints, staff is recommending moving forward with only phases one and two and
deferring the final concept to a later date.
Question(s) requiring follow up
Provide previous seismic study.
Committee Recommendation
No recommendation. Forward to June 8, 2020 Committee of the Whole.
C. 2020 1st Quarter Fire Department Budget Report
The Fire Department is projected to be at or below budget for the 15t Quarter of 2020. Staff
provided an overview of changes made to achieve this. Committee members discussed
the status of the 2020 Budget Proviso and the withdrawal of the third party consultant that
was hired in response to one of the conditions.
Question(s) requiring follow up
Provide the Kragness report again.
Committee Recommendation
Pursue hiring of another third -party consultant required by the proviso. Forward to June 8,
2020 Committee of the Whole.
FinanceCommittee Minutes.......................................................................................................................................May28, 2020
D. Agreement: Coronavirus Relief Funds
Staff is seeking Council approval of an agreement with the Washington State Department
of Commerce for receipt of $627,900 through the state's Coronavirus Relief Funds program
funded through the Federal CARES Act.
Committee Recommendation
Unanimous approval. Forward to June 1, 2020 Regular Meeting.
II. MISCELLANEOUS
Staff mentioned that the Municipal Court Judge is taking a salary reduction as part of the
COVID-19 budget cuts and this may be in the form of an ordinance at the next committee
meeting.
The meeting adjourned at 6:00 p.m.
Committee ChairApproval
Minutes by LH