HomeMy WebLinkAbout2011-05-03 Finance and Safety Minutes City of Tukwila
Finance and Safety Committee
FINANCE AND SAFETY COMMITTEE
Meeting Minutes
May 3, 2011— 5: 00 p.m.; Conference Room #3
PRESENT
Councilmembers: Kathy Hougardy, Chair; Joan Hernandez and Dennis Robertson
Staff: Shawn Hunstock, Peggy McCarthy and Kimberly Matej
Guests: Chuck Parrish
CALL TO ORDER: Chair Hougardy called the meeting to order at 5:00 p.m.
I. PRESENTATIONS
No presentations.
H. BUSINESS AGENDA
A. 2011 1S Ouarter Investment Report
As per City policy, staff provided the quarterly update to the Committee regarding City investment
reports. Standard report details begin on page 3 of the Committee agenda packet and demonstrate what
the City currently has in its portfolio.
Peggy drew the Committee's attention to page 4 the Policy Compliance Liquidity Analysis, and
stated that she took information from another report area and included it in this report for efficiency-and
ease of review. At this time, upcoming and recent maturities will not be reinvested, but will be placed in a
money market account to be held aside for the Southcenter Access (Klickitat) Project. The money market
accounts yields a 0.5% return.
Committee Member Robertson inquired about the $46.9 million balance on page 5- Cash Investment
Report. Shawn explained that only $2.7 million is in the general fund, the remaining funds are restricted
for specific purposes or legally restricted. INFORMATION ONLY.
B. Sales Tax Report February 2011 Receipts
Sales tax receipts for February showed an increase of $37,000 as compared to February of the prior year,
as well as the seventh consecutive month of gain. Receipts for the month are up $10,000 (or 0.97 as
compared to budget. A mitigation payment in the amount of $305.985.77 was received on March 31,
2011. INFORMATION ONLY.
III. MISCELLANEOUS
Committee Member Robertson would like the Committee to consider and/or identify what tools (i.e.:
Attachments A and B) the Council could use as they approach and examine policy decisions related to
the budget and identification of potential reductions as a result of future revenue losses. After
discussion, the Committee determined that it would be in the best interest of the Council to discuss this
item briefly under Miscellaneous at the upcoming Committee of the Whole.
Committee Members requested updates on several other items during future Committee meetings
including:
Rental Housing Inspection Program Status report/update (this fall, perhaps September).
Crime Stats Website Status report, information only.
Finance Safety Committee Minutes Mav 3.2011- Paae 2
Nuisance Ordinance Status report, information only.
Provide updates on criminal activities in residential neighborhoods in response to e-mail
complaints sent to Councilmembers from community members.
Meeting adjourned at 6:10 p.m.
Next meeting: Tuesday, May 17, 2011 5:00 p.m. Conference Room #3
Committee Chair Approval
Min t s b ':AM. Reviewed by SH.