HomeMy WebLinkAbout2016-04-05 Finance and Safety MinutesFINANCE AND SAFETY COMMITTEE
Meeting Minutes
City Council Finance and Safety Committee
April 5, 2016 - 5:30 p. m. - Hazelnut Conference Room, City Hall
Councilmembers: Verna Seal, Chair; Dennis Robertson, Kate Kruller
Staff: Peggy McCarthy, Vicky Carlsen, Brandon Miles, Gail Labanara, Mike Villa, Laurel
Humphrey
Guest: Louise Jones - Brown, Tukwila Historical Society
CALL TO ORDER: Chair Seal called the meeting to order at 5:30 p.m.
I. PRESENTATIONS
II. BUSINESS AGENDA
A. Lease Agreement with Tukwila Historical Society
Staff is seeking Council approval of a new lease agreement with the Tukwila Historical Society
for continued use of the Tukwila Grade School /Old City Hall located at 14475 591h Avenue South.
The previous lease expired in September 2015 and the Society's use of the building is
considered mutually beneficial. The Committee considered the lease at its March 8, 2016
meeting and requested additional research into the length of the lease and its impact to grant
seeking by the Society. Staff has updated the proposed lease to include a term of ten years with
a provision allowing the Mayor to extend the agreement an additional five years. Ms. Jones -
Brown stated that after she signed the proposed lease, the Board had opportunity to review
and have additional concerns about certain items. Since City staff had not yet had opportunity
to review these new concerns, the Committee requested the lease return after differences have
been resolved. They also requested additional changes be clearly shown in markup. RETURN
TO COMMITTEE.
B. 20154 1h Quarter Investment Report
Staff presented the 4th Quarter Cash and Investment Report for 2015, including information on
the City's portfolio components, performance, policy compliance and liquidity analysis, fund
cash and investment balances, and investment environment. At December 31, 2015, the
portfolio totaled $50.7 million comprising $39 million in cash and cash equivalents and $11.7
in longerterm investments. INFORMATION ONLY.
Finance and Safety Committee Minutes ....................................................................................... ............................... April 5, 2016
C. 20154 1h Quarter Sales Tax and Miscellaneous Revenue Report
Staff presented the 2015 4t" Quarter Sales Tax and Miscellaneous Revenue Report. Information
detailed in the staff report includes retail sales tax, gambling tax, and admissions tax revenues,
with sales tax broken out by industry classifications. Total sales tax collections for the fourth
quarter were $2,317k, or 14 %, above those for the same period last year. Construction sales tax
was increased by $436K, or53 %, and other industries produced an increase of $1,881K, or 12 %.
Actual revenue from sales tax collections exceeded the estimates in the amended budget by
$177Korone percent. INFORMATION ONLY.
D. Proposed 2017 -2018 Biennial Budget Schedule
Staff presented a proposed process and timeline for review and adoption of the 2017 -2018
Budget and Capital Improvement Program. The proposal includes three phase, including 1)
Enterprise Funds, 2) Capital Projects Funds, and 3) General Fund, Internal Service Funds, Other
Funds, and Financial Planning Model Attachment A. The schedule includes multiple
opportunities for Council participation, including committee review of pertinent sections as
requested by the Finance and Safety Chair following the Council Retreat. The next step will be
for the Committee to review the proposed 2017 -2018 Budget Priorities that emerged from the
May 2015 and March 2016 joint workshops with Council and Administration staff, as well as a
detailed public outreach plan. Committee members expressed appreciation for the detailed
schedule and the expanded opportunities for Council engagement and review. INFORMATION
ONLY.
III. MISCELLANEOUS
The Finance and Safety Committee Meeting adjourned at 6:52 p.m.
Nextmeeting: Tuesday,April19,2016
CommitteeChairApprovaI
Minutes by LH