HomeMy WebLinkAbout07-05-2000CITY OF AUBURN
FINANCE COMMITTEE
July 5, 2000
MINUTES
CALL TO ORDER
Committee Chair Jeanne Barber called the meeting to order at 6:30 PM.
Members present included Chair Jeanne Barber, Vice Chair Pete Lewis,
and Member Stacey Brothers. Others present included: Mayor Charles
A. Booth, Finance Director Diane L. Supler, Assistant Personnel Director
Roger Cartwright, Financial Operations Manager Sherri Crawford, and
City Clerk Danielle Daskam.
II. APPROVAL OF MINUTES
Minutes of the June 19, 2000 Finance Committee meeting.
Motion by Vice Chair Lewis, second by Member Brothers to
approve the June 19, 2000 minutes as distributed.
MOTION CARRIED UNANIMOUSLY. 3-0.
III. CONSENT ITEMS
A. Vouchers
Claims
F4.9.5
Claims check numbers 152361 through 152817 in the
amount of $779,623.30 for Period 6 and dated July 5, 2000.
Payroll
F4.9.2
Payroll check numbers 258800 to 259009 in the amount of
$339,082.26 and electronic deposit transmissions in the
amount of $638,606.80 for a grand total of $977,689.06 for
the pay period covering June 14, 2000 to June 27, 2000.
City of Auburn
Finance Committee Minutes
Page 2
July 5, 2000
B. Surplus Property
F4.6.1
Auburn Municipal Court
City Council to authorize the surplus and disposal of the
following equipment that is either broken or obsolete:
1 monitor stand
1 printer table
1 typewriter table
2 stacking chairs
8 partitions 55" x 66"
1 partition 36" x 55"
1 desk chair
3 calculators
6 electrical cords
2 microphones w/cords
3 microphone stands
1 mike cord w/4 jacks and 4 plugs
4 wire cords w/jacks
1 desk lamp
1 metal cabinet
Legal Department
City Council to authorize the surplus and disposal of the
following equipment that is either broken or obsolete:
IBM Selectric III electric typewriter
5 drawer lateral filing cabinet
Finance Department
City Council to authorize the surplus of the following
described property which is not in working order or is no
longer in use:
one (1) two-drawer filing cabinet (narrow) - broken
one (1) four-drawer filing cabinet (narrow)
one (1) 6 x 10 foot metal shelving
Motion by Vice Chair Lewis, second by Member Brothers to approve the
Consent Items.
MOTION CARRIED UNANIMOUSLY. 3-0.
City of Auburn
Finance Committee Minutes
Page 3
July 5, 2000
IV.
ORDINANCES AND RESOLUTIONS
There were no Ordinances or Resolutions for Committee consideration.
DISCUSSION ITEMS
Ordinance No. 5413 - LID No. 347 Bond Sale
Finance Director Supler presented Ordinance No. 5413 which
provides for the financing of the "B" Street LID (LID 347). Ms.
Supler presented a recap of the "B" Street Project funding and
costs to date. The project funding sources include the General
Fund, Arterial Street Fund, Storm Drainage Fund, and assessment
proceeds. Total revenue for the project is $1,322,162.29. The
project costs to date are $1,158,286.25. Ms. Supler suggested
redirecting any excess funding to the 277th Street Project.
Ms. Supler reported that she solicited quotes for the bond sale from
local banks--US Bank, Bank of America, and Key Bank. US Bank
submitted the lowest quote. The bond will be issued for a ten year
term.
1999 Audit Results
Finance Director Supler reported on the 1999 Audit conducted by
the Washington State Auditor's Office. She noted the City received
a "clean" audit and noted the audit report includes the statement:
"The City has an admirable record of legal compliance with state
and federl laws and its own policies and procedures."
Committee members congratulated Ms. Supler and her staff on the
audit results and the financial operation of the City.
Valley Comm Financing
Finance Director Supler presented a brief status report on the
Valley Comm project and financing. The construction project is
estimated at $15 million, with $12,758,000 obligated by the Valley
Comm members. The remainder of the project costs will come
from Valley Comm reserves of $2.6 million. Ms. Supler reported
the Valley Comm Public Development Authority (PDA) members
selected Seattle-Northwest Securities as the project financing
underwriters. The project design stage is 99 percent complete.
Occupancy of the building is expected by September 2001. The
City of Auburn
Finance Committee Minutes
Page 4
July 5, 2000
Valley Comm building will be located in the vicinity of 108th and
277th in Kent.
Council Salaries/Benefits
Assistant Personnel Director Cartwright reported on the Council
salaries and benefits study. The Council salary survey is complete;
however, staff is still collecting benefit information. The information
will be presented at the next Committee meeting.
2000 Budget Amendments
Finance Director Supler reported that the mid-year budget
amendment ordinance will be presented at the next Committee
meeting. The Committee briefly reviewed the updated General
Fund budget amendments.
Banking Services
Banking services was not discussed and was carried over to the
July 17, 2000 Committee meeting.
VI. ADJOURNMENT
There being no further business, the meeting adjourned at 7:15 PM.
.~..._. ~~~ r~ved the /'~ ~"'" .~./~~,,~ J u ly 2000.
J~anne Barber, Ohair Dan~elle Daskam, City Olerk
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