HomeMy WebLinkAbout07-21-2003WASHINGTON
CITY OF AUBURN
FINANCE COMMITTEE
JULY 21, 2003
MINUTES
I1.
III.
CALL TO ORDER
Chair Fred Poe called the meeting to order at 6:30 PM in the Council
Conference Room located at Auburn City Hall, 25 West Main Street,
Auburn, WA. Chair Poe, Vice Chair Cerino and Member Backus were
present. Others present included Mayor Pete Lewis, City Attorney Daniel
B. Held, Finance Director Shelley Coleman, and City Clerk Danielle
Daskam. Mr. Bill Peloza also attended the meeting.
APPROVAL OF MINUTES
A. Minutes of the July 7, 2003 Finance Committee meeting.
Vice 'Chair Cerino moved and Member Backus seconded to
approve the July 7, 2003 minutes.
MOTION CARRIED UNANIMOUSLY. 3-0.
CONSENT ITEMS
A. Vouchers
Claims
F4~9.5
Claims check numbers 322539 through 322930
amount of $2,999,245.10 and dated July 21,2003.
in the
Payroll
F4.9.2
Payroll check numbers 504854 to 505031 in the amount of
$576,438.51 and electronic deposit transmissions in the
amount of $873,910.24 for a grand total of $1,450,348.75 for
the pay period covering June 24, 2003 to July 16, 2003.
B. Surplus Property
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Finance Committee Minutes July 21, 2003
IV.
F4.6.1
Auburn Municipal Airport
City Council to authorize the surplus and disposal of the
following equipment no longer of use to the City:
Quantity
1
2
4
1
1
1
1
1
44
3
1
1
1
1
1
1
1
Description
Metal Straight Leg Chair
Wood Straight Leg Chairs
Wheeled Office Chairs w/Arm Rests
Jacobsen 5 HP Push Mower
4-Drawer Metal Filing Cabinet
Metal 7-Drawer Desk
IBM Correcting Selectdc III Typewriter
Sharp QS2760A Calculator
Plastic Chairs
Wheeled Uphol Chairs w/Arm Rests
CTX Model H51C 14" Color Monitor
Keyboard w/Cover #950068564
Keyboard w/Cover #950090896
Okidata Microline 320 9 Pin Printer
Okidata Microline 320 Turbo 9 Pin Printer
Okidata Microline 182 Personal Printer
Canon NP 1020 Copier
Serial #
822
n/a
032-071, 017-046
032-077, 013-056
n/a
n/a
n/a
013-169
n/a
n/a
n/a
KAO-52908263
507D1496433
812B2311375
906B9540291
CXL 76916
Bad Debt Write-off
F4.12
City Council to authorize the write off of bad debt accounts in
accordance with City policy in the total amount of $12,209.92.
Committee members reviewed consent items and briefly discussed
the write off of bad debts. The accounts consist of refuse and
airport accounts.
Vice Chair Cerino moved and Member Backus seconded to
approve the consent items.
MOTION CARRIED UNANIMOUSLY. 3-0.
ORDINANCES AND RESOLUTIONS
Ordinance No. 5778
A4.5.1
An Ordinance of the City Council of the City of Auburn,
Washington, amending Sections 2.03.070 and 3.10.020 of the
Auburn City Code, regarding authority of the Mayor
Page 2
Finance Committee Minutes July 21, 2003
Vo
Chair Poe recalled that Ordinance No. 5778 was discussed at the
July 7th Finance Committee meeting. There were no further
questions from the Committee members.
Vice Chair Cerino moved and Member Backus seconded to
recommend Council approval of Ordinance No. 5778.
MOTION CARRIED UNANIMOUSLY. 3-0.
DISCUSSION ITEMS
Ao
Second Quarter Report and Investment Data
Finance Director Coleman reviewed the second quarter revenue
and expense reports. Overall, the General Fund revenues are
either on line or a ahead of estimates. Ms. Coleman noted the
following highlights: investment revenues are lagging due to the
drop in interest rates; REET revenues are ahead of schedule at
68.5% of budget; General Fund expenditures are generally below
the 50% mark.
Ms. Coleman reviewed the utility funds revenues and expenditures.
Sewer and storm revenues are above the 50% mark while the
water utility is behind schedule for revenues. She estimated that
the water revenues will be above projections by the end of the year.
She noted that the airport revenues are down, and she will
continue to closely monitor the fund. She also pointed out the
newest fund, the Commercial Retail Fund, which includes a $1
million transfer in for tenant improvements and approximately
$4,000 in lease revenues.
In response to a question from Chair Poe, Ms. Coleman explained
that the recent increases in utility taxes are reflected in General
Fund revenues while the expense portion are reflected in the utility
funds.
Ms.'Coleman distributed a Cash and Investment Portfolio schedule
itemizing the investment type, purchase and maturity dates, and
rate of interest. Total cash and investments is approximately $78
million with an average interest rate of 1.47%.
Ms. Coleman noted the budged General Fund expenditures are
approximately $8 million above budgeted General Fund revenues.
She anticipates that not all budgeted items will be expended this
year and revenues will likely run $2 million above estimates;
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Finance Committee Minutes July 21, 2003
VI.
however, she expects a $2 to $3 million gap in expenditures and
revenues. Mayor Lewis estimated that by year end the City will use
approximately $2 to $3 million of General Fund reserves.
Utility Billing Software
Finance Director Coleman spoke of the need to upgrade the
existing utility billing software, which is an upgraded DOS system.
The latest version has been in place since 1996, and the vendor
will discontinue supporting the system in 2005. Staff is developing
a Request for Proposal (RFP) to procure a new system for puchase
in 2004. Ms. Coleman estimated the cost of a new utility software
system at $150,000. The utility billing system contains 15,000
accounts and bills multiple services. Ms. Coleman briefly explained
the bill printing and sorting process, which is performed by the
Puget Sound Energy print center.
Co
Property Tax/Assessed Value
Chair Poe requested information on the breakdown of real estate
property taxes and the application of the 1% tax increase limit.
ADJOURNMENT
There being no further business, the meeting adjourned at 7:07 PM.
APPROVED THIS zT/~ DAY OF AUGUST, 2003
Chair Fred Poe ~
Damelle Daskam, City Clerk
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