HomeMy WebLinkAboutITEM II-A-1
CITY OF
- FINAIVCf COMIVIITTEE
V1/AS H I N GTO N
~ APREL 19, 20'E0
6:00 'PAA, CITY HALL ANNEX
. CONFERENCE ROOM 2
- MINUTES
I. CALL TO ORDER
~ Chair- Nancy Backus called the meeting to order 6:00 p.m.. in Conference
Room No. 2 iocated on the second floor of the City Hall Annex located at
One East Main Street in Aubum. Chair Backus, Vice Chair Lynn Norman
and Member John Partridge were present. Present during the meeting
were Mayor Peter B. Lewis, City Attomey Daniel B. Heid, Finance Director
Shelley Coleman, Public Works Direcfor Dennis Dowdy, Chief of Police
Jim Kelly, Principal Planner Elizabeth Chamberlain, and City Clerk Danielle Daskam. Members of the audience included Wayne Osbome.
II. CONSENT ITEAAS
A. Approval of Minutes
'B. Minutes of the April 5, 2010 Finance Cornmittee meeting.
Vice Chair Norman moved and Member Partridge seconded
to approve the April 5, 2010 minutes. MOTION CARRIED UNANIMOUSLY. 3-0.
B. Voucheos
1. Claims
F4.9.5
Claims check numbers 393955 through 394299 in the amount of $2,140,572.14 and dated April 19, 2010.
2. Payroll
F4.9:2'
Payroll check numbers 528716 through: 528814 in the
amount of $804,974.56 and electronic deposit transmissions
in the amount of $1;127,851:18 for a grand total of
$1,932,825.74 for the pay period covering April 1, 2010 to
April 14, 2010.
,
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Finance Committee Minutes April 19, 2010
Committee members reviewed the vouchers and briefly
discussed voucher numbers 393974, 394142, 394257,
393986, 393992, 394115, 394201 and 394269:
Member Partridge suggested adding more description fo the
description feld of the voucher list. He asked that repetitive
information be omitted from the data entry for the description
field.
Vice Chair Norman moved and Member Partridge seconded
to approve the vouchers.
MOTION CARRIED UNANIMOUSLY. 3-0. `
C. Bad Debt-Write Off
F4.12
C.ity Council approve the write-off of utility customer accounfs,
miscellaneous accounts receivable, false alarm citations, and
bankruptcies:
Utility Customer Accounts: $ 32,341_01
Miscellaneous Accounts Receivable $116;727.50
False Alarm Citations $ 3,040.00
Project Ace Contract $ 51,400.00
Police Dept - Parking Citations $ 70,911.02
Finance Director Coleman reviewed the bad debt accounfs to be
written off. The bad debt write-off was previously, reviewed by the
Finance Committee on March 15, 2010. The Legal Department
has sent collecfion letters to the customers advising the accounts
will be turned over to collection. Once the bad debt accounts have
,
been written off the City's books, the accounts wilf be turned over
to collection.
Finance Director Coleman explained that the miscellaneous,
accounts receivable is comprised of unpaid leases, property
damage billings, hydrant charges, and other miscellaneous account
receivables: 7he parking citations to be written off are from 1999'
and older. The Court's collection procedu'res have been improved
to ensure maximum. collection.
Vice Chair Norman moved and Mem6er Partridge seconded to
forward the bad debt write off to the full Council.
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Finance Cornmittee Monutes April 19, 2010
MOTION CARRIED UNANIMOUSLY. 3-0.
III. ORDINANCES AND RESOLUTIOIVS
A. Ordinances
1. Ordinance No. 6301
F6.16
An Ordinance of the City of Aubum, Washington, imposing -
the local sales and use tax to be credited against the state
sales and use tax for purposes of utilizing local revitalization
_ financing under Chapter 39.104 RCW; and providing -foc
other.matters properly relating.thereto
Finance Director Coleman presented Ordinance No. 6301.
Ordinance No. 6301 levies the .03% sales tax credit against
the state sales tax for local revitalization financing. The City
must set the sales tax credit each year.' The sales tax credit
is based on approximately $1.2 billion in retail sales. It is
anticipated that the City will collect the maximum amount
allowed of $250,000 within the first ten months. The credif is
available to the City for up;to finrenty-five years.
IV. DISCUSSION ITEMS
A. Ordinance No. 6305
May Bond Issue ,
Finance Director Coleman explained that the bond issue scheduled.
for May 3, 2010 includes five separate issues to provide funding for
the purchase of the annex space currently being leased by the City
($22,500,000); the Local Revitalization Funding component, of the
promenade and open plaza/spaces ($7,200,000); and refund the
1998 GO bonds issued for the library ($2,285,000). The issues
consist of Limited Generaf Obligation Bonds and Build America
Bonds. -
Mayor Lewis reported that he and Finance Director Coleman met
with representatives of Standard & Poor's last Friday in San
Francisco. The City has been rated by Moody's but has never
previously been rated by Standard & Poor°s. Mayor Lewis reported
that Standard & Poor's congratulated the.City, particularly the City .
Council, on the low amount of debt the City carcies, including, the proposed bond issue. The City of Aubum is considered one of the
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Finance Comrreittee Minutes AqriB 19, 2010
mosf stable cities. in the region. The Standard & Poor's credit
rating is expected on April 27, 2010.
Director Coleman stated that the bond issue will come before the
Council for action on May 3. Bond pricing will also occur on May 3"d with funds available on May 13tn
Director Coleman pointed out in the Official Statement (Security for the Bonds) that the City has pledged not only the Local
Revifalization Financing but also REET 2 funds for repayment of
the bonds. .
. Mayor Lewis commended Senator, Claudia Kauffman and
Representative Pat Sullivan for sponsoring legislative bills for Local
Revitalization Financing on behalf of the City. There are a total of
fve cities across the state participating in Local Revitalization
Financing.
B. Auburn School District Impact Fees
Committee members reviewed the Auburn School District.Impact
, Fee Accoant report submitted by the School District. The report is
provided as information only.
C. ` Resolution No. 4589
01.11
A Resolution of the City Council of the City of Auburn, Washington,
authorizing the Mayor and City Clerk to. execute an Interlocal
Agreement between the City of Aubum and the Cities of Kent,
Renton, Tukwila, Federal Way and the Port of Seattle for the Valley
, Narcotics Team ("VNET")
Chief of Police Kelly, explained that Resolution. No. 4589 authorizes
an Inferlocal Agreement befinreen the cities of Auburn, Kent,
Renton, Tukwila, and Federal Way and the Port of Seattle for the
Valley Narcotics Team. The Municipal Services Committee
reviewed and approved the resolufion. VNET has been in
existence since the early 1980's.
D. Ordinance No. 6303
01.8
An Ordinance ofi the City Council of the City of Auburn,
Washington, amending Section 9:30.140 of the Aubum City Code
relating to fees for appeal of alarm administrator decisions
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Finance Committee IVlinutes_ April 19, 2010
Mayor Lewis reported that Ordinance No. 6303 has been referred
back to the Municipal Services Committee for further review.
Member Partridge added that the Committee wishes to take a
closer look at all fees associated with false alarms.
E. ResoEution No. 4591
F5:2
A Resolution of the City Council of the City of Auburn, Washington,
formally aecepting, a grant from the Washington State Military
Department in #he amount of Seventy Five Thousand One Hundred
Seventy Seven Dollars ($75,177.00) from the United States
Department of Homeland Security Emergency Management
Performance Grant Program, and authorizing the Mayor and City
Clerk to execute the necessary agreements to accept said funds
Chief of Police Kelly explained that Resolution No. 4591 authorizes
the acceptance of a$75,177 grant from Homeland Security to
enhance the City's emergency management programs. The funds
. will be used to purchase additional equipment for' the Emergency
Operations Center and to enhance public education activities. This
year's grant represents the fourth year the City has received the
grant:
F. Reso6ution No. 4592
A3.16.9, 04.9
A Resolution of the City Council of the City of Auburn, authorizing
the Mayor and City Clerk to execute an Interlocal Agreement with
King Countyfor the purpose of providing road services
Public Works Director powdy stated that . Resolution No. 4592
authorizes an Interlocal Agreement with King County to complete
citywide pavement rnarking improvements, annual bridge
inspections and related repair work, and emergency call-out
services for traffic signal repairs. The resolution was reviewed and
approved by the Public Works Committee earlier this evening.
G. Resolution No. 4590 .
01.8.3 A Resolution of the City Council of the City of Auburn, Washington;
requesting that the United States Congress appropriate sufficient
funds to provide for interim and permanent repairs to the Howard
Hanson Dam, and requesting that the Army Corps of Engineers be
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Finance Committee Minutes April 19, 2010
directed to make the Howard Hanson Dam permanent repairs a
priority project
Mayor Lewis stated that the resolution urges the United States
Congress to appropriate funds to provide for interim and permanent
repairs to the Howard Hanson Dam and requests that the Army
Corps of Engineers make the Howard Hanson Dam repairs a
priority project. : Mayor Lewis and other Mayors from the Green
River Valley will be travelling to Washington, DC to meet 'with
members of the Washington State Congressional delegation and
the U.S. Army Corps of Engineers representatives to present their
resolutions and discuss the status of the dam.
H. Mortithly Financial Report
`
Committee members reviewed the February monthly financial
report which is based on financial data available as of March 22,
2010. '
V. ADJOURNMENT
There being no further business to come before the Committee, the
meeting adjourned at 7:14 p.m.
APPROVED THE DAY OF MAY 2010.
Nancy Backus, Chair Danielle Daskam, City Clerk
Page 6