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HomeMy WebLinkAbout2010-06-22 Finance and Safety MinutesFINANCE AND SAFETY COMMITTEE Meeting Minutes June 22, 2010 5:00 p.m.; Conference Room #3 PRESENT Councilmembers: De' Sean Quinn, Chair; Allan Ekberg and Kathy Hougardy Staff: Shawn Hunstock, Peggy McCarthy, Don Lincoln, Chris Flores, Steve Lancaster and Kimberly Matej CALL TO ORDER: Chair Quinn called the meeting to order at 5:01 p.m. I. PRESENTATIONS No presentations. City of Tukwila Finance and Safety Committee II. BUSINESS AGENDA A. Surplus Fire Equipment Staff is seeking full Council approval of two resolutions declaring Fire Department equipment surplus, and authorizing its donation. Resolution: Jaws of Life The Fire Department recently replaced two aging and inferior technology hydraulic rescue systems (Jaws of Life). Although considered inferior to current technology, this equipment is still functional and usable. Two fire entities have requested donation of this equipment: North Highline Fire District in Washington and Salmon River Fire Department in Idaho. There is no resale value to the Department or City for this equipment. UNANIMOUS APPROVAL. FORWARD TO JUNE 28 COW FOR DISCUSSION. Resolution: Medical Backboards A recent purchase of two Mass Casualty Incident Trailers included 200 new medical backboards. The Fire Department is requesting the surplus and donation of 15 outdated medical backboards to the Maple Valley Fire and Life Safety Department. This equipment will remain as a shared regional /zone resource. There is no monetary value associated with this equipment. UNANIMOUS APPROVAL. FORWARD TO JUNE 28 COW FOR DISCUSSION. B. Investment Policy At the May 18 Finance Safety Committee meeting, Peggy McCarthy spoke to some changes that were forthcoming in regards to the City's Investment Policy. As an information only item, she provided an overview of those changes as listed below: Increase maximum maturity on long -term investments from four years, to between five and ten years, depending on the investment instrument. Increase average portfolio maturity from two years, to three and a half years. Longer maturities lead to more investment income for the City. Staff does not anticipate that these changes will compromise the City's liquidity. INFORMATION ONLY. C. Travel Policy Update This item was originally brought to the Finance Safety Committee, as an information only item, on April 20, 2010. At that time, the Committee requested additional information as to how this policy compares to that of other cities as well as the issue of compensable wages as a fringe benefit. Finance Safety Committee Minutes June 22, 2010 Paae 2 Staff provided summary information of policies from seven local jurisdictions. In all instances, the travel policy was applicable to elected officials. Although federal law requires that any excess of the GSA (U.S. General Services Administration) per diem rate be included as taxable wages. Committee Chair Quinn requested a statement from Legal that federal law mandates excess be included as a taxable wage. INFORMATION ONLY. D. Sales Tax Report Shawn Hunstock reviewed sales tax revenue through March 2010 and April 2010. Receipts for March were approximately $11,000 above actual receipts for the same month last year. Staff was hopeful that this was a trend and that it may continue. Unfortunately, recent receipts from April fell 32% below budget estimates and $120,000 below actual receipts for the same month last year. Although not significant, Shawn did note that some industry classifications are experiencing gains, this could be another sign indicating a move toward recovery. INFORMATION ONLY. III. MISCELLANEOUS Meeting adjourned at 5:43 p.m. Next meeting: *DUE TO HOLIDAY- Wednesday, July 7, 2010 5:00 p.m. Conference Room #3 __X Committee Chair Approval Minutes by KAM. Reviewed by SH.