HomeMy WebLinkAbout02-06-2006
~~,,~"':;;,", *.' ~
FINANCE COMMITTEE
FEBRUARY 6, 2006
MINUTES
I. CALL TO ORDER
Chair Nancy Backus called the meeting to order at 6:30 p.m. in the
Council Conference room at Auburn City Hall located at 25 West Main
Street, Auburn, Washington. Committee members present were: Chair
Backus, Vice Chair Lynn Norman, and Member Roger Thordarson. Also
present during the meeting were Mayor Peter B. Lewis, Information
Services Director Lorrie Rempher, Finance Director Shelley Coleman, City
Attorney Daniel B. Heid, and Deputy City Clerk Cathy Richardson.
II. APPROVAL OF MINUTES
A. Minutes of the January 17, 2006 Finance Committee meeting.
Vice Chair Norman moved and Member Thordarson seconded to
approve the January 17, 2006 minutes.
MOTION CARRIED UNANIMOUSLY. 3-0.
III. CONSENT ITEMS
A. Vouchers
1. Claims
F4,9.5
Claims check numbers 348512 through 348729 in the
amount of $1,284,532.47 and claims check numbers
348730 through 349085 in the amount of $826,333.03 and
dated February 6, 2006.
2. Payroll
F4.9.2
Payroll check numbers 514974 to 515106 in the amount of
$318,085.58 and electronic deposit transmissions in the
amount of $1,066,757.91 for a grand total of $1,384,843.49
Page 1
Finance Committee Minutes
February 6. 2006
for the pay period covering January 12, 2006 to February 1,
2006.
Committee members reviewed the consent items and briefly
discussed claims vouchers 348625, 348634, 348673,
348697, and 348702.
Vice Chair Norman moved and Member Thordarson
seconded to approve the consent items.
MOTION CARRIED UNANIMOUSLY. 3-0.
IV. ORDINANCES AND RESOLUTIONS
A. Resolution No. 3974
A3.4
A Resolution of the City Council of the City of Auburn, Washington,
supporting passage of Senate Bill 6215 - relating to public entity
liability for tortious conduct
City Attorney Heid explained that Resolution No. 3974 requests
support to the legislature from the City Council for passage of
Senate Bill 6215. Senate Bill 6215 seeks to clarify language
regarding tort liability in relation to uniquely governmental activities
and actions. Senate Bill 6215 would also clarify the distinction
between activities that are public or private in nature.
Vice Chair Norman moved and Member Thordarson seconded to
recommend approval of Resolution No. 3974.
MOTION CARRIED UNANIMOUSLY. 3-0.
V. DISCUSSION ITEMS
A. Quarterly Investment Report
Director Coleman briefly reviewed the quarterly investment portfolio
summary as of December 2005. The investments are conservative
in nature which is consistent with state law.
Committee members briefly discussed the State Investment Pool,
US Treasury rates, and the inverted yield curve.
Page 2
Finance Committee Minutes
February 6. 2006
B. Ordinance No. 5997
An Ordinance of the City Council of the City of Auburn,
Washington, repealing Ordinance No. 5657 in its entirety
Director Coleman explained that Ordinance No. 5657 designated
earned interest revenues in the Capital Improvements Projects
Fund for street preservation projects and allowed the transfer of
earnings into the Street Fund. This provided an avenue to fund
local street programs. Due to the Save Our Streets (SOS) funding
source and strong Real Estate Excise Tax (REET) revenue,
Director Coleman recommended repealing Ordinance No. 5657,
designating $150,000 in REET revenue to the Street Fund, and
using the interest revenues from the Capital Improvement Projects
Fund for other less restrictive uses.
C. Ordinance No. 5968
An Ordinance of the City Council of the City of Auburn,
Washington, amending Section 8.08 of the Auburn City Code
relating to solid waste
Director Coleman reported that Ordinance No. 5968 allows the City
of Auburn to begin providing billing services in the Lea Hill area.
Kent Meridian Disposal provides refuse services in that area. In
order to use the Kent Meridian Disposal service rates, a special
collection district area must be designated. Rates will remain
unchanged and residents will be able to participate in the City's
annual Spring Clean Up program.
D. State of Washington Department of Community, Trade and
Economic Development (CTED), Washington State Main Street
Program (WSMSP)
Director Coleman distributed a handout from the State of
Washington Department of Community, Trade and Economic
Development (CTED) on the Main Street Tax Credit Incentive
Program (WSMSP). The program provides a tax credit on State
Business and Occupation (B&O) and Public Utility Taxes (PUT) of
approximately 75 cents on the dollar. The City of Auburn does not
have a B&O tax, but pays PUT of approximately $500,000
annually. Director Coleman reviewed criteria for participating in the
program and recommended the City submit an application to
determine eligibility.
Page 3
Finance Committee Minutes
February 6. 2006
VI. ADJOURNMENT
There being no further business to come before the Committee, the
meeting adjourned at 7:03 p.m.
APPROVED THE :;ll~ DAY OF FEBRUARY 2006
Nancy
us, Chair
1:lclerklflnancelfcaI2006fca02-06
,
(~;:{~~
Cathy RiC%dson, Deputy City Clerk
Page 4