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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. , Page 1 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. Page 2 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 Page 3 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 Page 4 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 Page 5 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