HomeMy WebLinkAbout2025-10-27 Finance and Governance MinutesCity of Tukwila
City Council Finance & Governance Committee
Meeting Minutes
October27, 2025 - 5:30 p.m.
Councilmembers Present:
Staff Present:
. BUSINESS AGENDA
- Hybrid Meeting; Hazelnut Conference Room & MS Teams
Armen Papyan, Chair; Dennis Martinez, Verna Seal
Aaron BeMiller, Tony Cullerton, Megan Marks, Pete Payer, Laurel
Humphrey
A. Contract for Investment Advisory Services
Staff is seeking approval of a contract with Clearwater Advisors in an annual amount of
$15,000 for investment services.
Committee Recommendation
Unanimous approval. Forward to November 3, 2025 Regular Meeting.
B. Ordinance: 2025 Year -End Budget Amendments
Staff is seeking approval of the annual year - end budget amendments.
Item(s) for follow-up:
• Provide the final cost of the fire engine that was purchased through the interfund loan.
• Provide further detail about the budget impact of $405,000 for the TCC HVAC.
• Provide detail about the 2026 budget for the HR limited -term position.
Committee Recommendation
Unanimous approval pending responses. Forward to November 3, 2025 Regular Meeting.
C. Ordinance: 2026 Mid -Biennium Budget Amendments
Staff is seeking approval of the annual mid -biennium budget amendments.
Item(s) for follow-up:
• Provide information about the fire station bonds, including the total amount, annual
payment and expiration date.
• Provide information from HR with additional assurance about the city's ability to make a
new position funding -dependent.
Committee Recommendation
Unanimous approval pending responses. Forward to November 3, 2025 Regular Meeting.
Finance & Governance Committee Minutes October27, 2025
D. 2026 Property Tax Ordinances
Staff is seeking approval of the annual regular and excess levy ordinances.
Item(s) for follow-up:
• Provide the amounts of property tax collected by the City in 2023 and 2024.
Committee Recommendation
Unanimous approval pending responses. Forward to November 3, 2025 Regular Meeting.
E. 2025 3rd Quarter Financial Report
Staff presented the report.
Item(s) for follow-up:
• Provide information about the grant reimbursement for the Crystal Springs lighting
project.
Committee Recommendation
Discussion only.
MISCELLANEOUS
Item(s) for follow-up:
• Provide informational presentation on franchise fees, including the historic rate of
increase.
The meeting adjourned at 6:25 p.m.
AP
Committee Chair Approval