HomeMy WebLinkAbout2014-05-20 Finance and Safety Minutes
City of Tukwila
Finance and Safety Committee
FINANCE AND SAFETY COMMITTEE
Meeting Minutes
May 20, 2014 5:30 p.m.; Hazelnut Conference Room
PRESENT
Councilmembers: Dennis Robertson (Acting Chair, for Verna Seal); Joe Duffie, Kathy Hougardy
Staff: David Cline, Jennifer Ferrer, Laurel Humphrey
CALL TO ORDER:
Acting Committee Chair Robertson called the meeting to order at 5:30 p.m.
I. PRESENTATIONS
No presentations.
II. BUSINESS AGENDA
A.
Resolution: Authorizing Investment in the Washington Local Government Investment Pool
Staff is seeking Council approval of a resolution that would authorize investment of surplus
City funds in the Washington State Local Government Investment Pool (LGIP). The State
Treasurer published a prospectus in January 2014, outlining the purpose of the LGIP and its
strategies, risks, earnings, distributions, and management. Governing bodies of all
participating agencies must pass an updated resolution acknowledging receipt and
understanding of the prospectus. Staff confirms that the LGIP continues to be a good
UNANIMOUS APPROVAL. FORWARD TO JUNE 2,2014
investment tool for surplus funds.
REGULAR CONSENT AGENDA.
B.
Resolution: Changing the Finance Department Petty Cash and Change Fund Levels
Staff is seeking Council approval of a resolution that would modify the Finance
Both of
the Change Funds need to be increased due to more residents paying utility invoices with
large bills. It is not unusual for staff to encounter change shortages later in the day as a
purchasing program that allows designated employees to use a credit card for City
expenses. The requested changes are as follows:
Change Fund General: Increase from $100 to $300
Change Fund Water: Increase from $100 to $400
Petty Cash: Decrease from $800 to $300
UNANIMOUS APPROVAL. FORWARD TO JUNE 2, 2014 REGULAR CONSENT
AGENDA.
III. MISCELLANEOUS
Meeting adjourned at 5:38 p.m.
Next meeting: Tuesday, June 3, 2014 5:30 p.m. Hazelnut Conference Room
Acting
Committee Chair Approval
Minutes by LH