Council Budget & Finance Committee

Summary

Meeting Overview

The Budget and Finance Committee of the Urban County Council convened on January 25, 2023, with the Vice Mayor presiding over the session. The meeting featured a single agenda item: a report of the Policeman's and Firefighter's Retirement Fund, which was presented for informational purposes. Over the course of the meeting, 2 votes were taken and 1 presentation was heard. No public comments were received during the session.

Attendance

All members were present at the January 25, 2011 Council meeting, with no absences or late arrivals recorded.

Present: - Ed Lane - Chuck Ellinger - Mr. Farmer - Mr. Myers - Council Member Lawless - Council Member Kaye - Council Member Beard - Council Member Blues - Council Member Gordon - Council Member McCord - Council Member Stennett - Council Member Martin - Council Member Crosby - Council Member Farmer

Votes and Decisions

Two votes were taken during the meeting, both concerning leadership positions on the Budget and Finance Committee.

Election of Chair for the Budget and Finance Committee 17:50

Motioned by Mr. Farmer and seconded by Mr. Myers, this roll call vote resulted in the election of a Chair for the Budget and Finance Committee. The motion passed 6–3. Mr. Ellinger received the six affirmative votes, while Mr. Lane cast the three dissenting votes. No abstentions were recorded.

Selection of Vice Chair for the Budget and Finance Committee 18:57

Motioned by Mr. Ellinger, this item was decided by voice vote. Ed Lane was selected as Vice Chair for the Budget and Finance Committee. The motion passed with no recorded opposition.

Appointments

The Council made two appointments to leadership positions on the Budget and Finance Committee during the January 25, 2011 meeting.

• Chuck Ellinger was appointed as Chair of the Budget and Finance Committee.
• Ed Lane was appointed as Vice Chair of the Budget and Finance Committee.

These appointments established the leadership structure for the Budget and Finance Committee, with Ellinger taking the top position and Lane serving in a supporting leadership role as Vice Chair.

Contested Items

Election of Chair for the Budget and Finance Committee

The selection of a chair for the Budget and Finance Committee produced the meeting's most divided vote. Two candidates competed for the position: Ed Lane and Chuck Ellinger. The vote was split, with Ellinger ultimately prevailing over Lane by a margin of 6 to 3.

The structured data does not detail the specific arguments made in support of either candidate, but the 6-to-3 outcome indicates a clear division among council members rather than a consensus appointment.

Report of the Policeman's and Firefighter's Retirement Fund

18:57

Tom Cavanaugh of Cavanaugh McDonald Consulting presented the actuarial evaluation of the Police and Fire Pension Plan to the Council. The presentation covered the plan's liabilities, contribution requirements, and overall financial health of the fund.

This item was informational in nature, providing the Council with a professional actuarial assessment of the retirement fund that covers the city's police officers and firefighters. As the actuary of record, Cavanaugh walked through the key findings of the evaluation, which included an examination of the fund's current financial standing and the obligations the city faces in meeting its pension commitments to public safety employees.

No vote or formal action was taken as a result of this presentation. The report served as an update to keep Council members informed of the fund's status and any relevant actuarial considerations affecting future contribution levels and long-term liabilities.