Budget and Finance and Economic Development Committee

Summary

Meeting Overview

The Budget, Finance & Economic Development Committee met on December 1, 2015, at 1:00 P.M. with Stinnett presiding as the committee chair. The committee addressed five agenda items during the session, focusing primarily on financial updates and administrative matters. The meeting included one formal approval action for the October 27, 2015 committee summary, while three items were presented for informational purposes, including October General Fund financials, Urban Services Fund street light funding, and an Economic Contingency Fund update. The committee took a total of 10 votes throughout the meeting and concluded by approving items that had been referred to the committee for consideration. No public comments were heard during this session.

Attendance

The following members were present at the December 1, 2015 meeting:

• Stinnett
• Kay
• Lamb
• Farmer
• Scutchfield
• F. Brown
• Mossotti
• Bledsoe
• Hensley

Absent: • Moloney

No members arrived late to the meeting. Nine members were present with one absence recorded.

Votes and Decisions

The committee took ten votes during the December 1, 2015 meeting, primarily focused on fund balance ordinance amendments and committee business.

Fund Balance Ordinance Amendments:

Farmer's motion to add language requiring a rolling General Fund balance of 10% minimum failed on a roll call vote of 1-8, with only Farmer voting in favor. All other members - Bledsoe, F. Brown, Kay, Mossotti, Stinnett, Scutchfield, Lamb, and Hensley - voted against the proposal.

The committee unanimously approved (9-0) Farmer's motion, seconded by Hensley, to change the access requirement from a calculation test to Council approval.

Kay's motion to approve all items as recommended by the administration for Fund Balance consideration passed 8-1, with F. Brown casting the sole dissenting vote.

Kay's amendment to delete the additional $4.6 million addition to the Economic Contingency fund failed 4-5. Kay, F. Brown, Mossotti, and Farmer voted in favor, while Bledsoe, Stinnett, Scutchfield, Lamb, and Hensley opposed.

Lamb's compromise motion to amend half of the $4.6 million ($2.3 million) passed 5-4, with Kay, Mossotti, Scutchfield, Farmer, and Lamb supporting the measure.

The committee approved Farmer's motion to report out the Fund Balance portion at the work session 8-1, with F. Brown again voting against.

Committee Business:

Three unanimous votes removed items from committee consideration: F. Brown's motion to remove the Solid Waste User Fee Structure, F. Brown's motion to remove Quarterly Development Reports, and Bledsoe's motion to remove World Trade Center business assistance data.

The meeting concluded with F. Brown's unanimous motion to adjourn, seconded by Bledsoe.

Contested Items

The December 1, 2015 meeting featured two significant contested votes related to the Economic Contingency Fund ordinance.

Economic Contingency Fund Rolling Balance Amendment

The first contested item involved a proposed amendment to establish a rolling General Fund balance requirement. The motion sought to add language to the ordinance requiring a minimum 10% rolling General Fund balance. This amendment faced strong opposition from the council, ultimately failing by a decisive 8-1 vote. Only one council member supported the additional fiscal safeguard measure, while eight members voted against implementing the rolling balance requirement.

$4.6 Million Economic Contingency Fund Addition

The second contested vote centered on a proposed amendment to remove an additional $4.6 million allocation to the Economic Contingency Fund. This motion represented a closer division among council members, with the amendment failing by a narrow 4-5 margin. Four council members supported deleting the additional funding, while five members voted to retain the $4.6 million addition to the contingency fund.

The split votes on these Economic Contingency Fund matters revealed differing perspectives among council members regarding fiscal policy and reserve fund management. While the rolling balance amendment garnered minimal support, the debate over the additional $4.6 million funding proved more divisive, ultimately decided by a single vote. These contested items highlight the council's deliberative process on significant budgetary decisions affecting the city's financial reserves and contingency planning.

Approval of October 27, 2015 Committee Summary

The committee reviewed and discussed the summary of their October 27, 2015 meeting as the first item on their agenda. The discussion involved key speakers Farmer and F. Brown, who participated in the review process of the meeting documentation.

The committee members examined the contents of the October 27, 2015 committee summary to ensure accuracy and completeness of the recorded proceedings from that previous meeting. This standard procedural item allows committee members to verify that their prior discussions, decisions, and actions were properly documented before officially approving the record.

Following their review and discussion of the summary document, the committee voted to approve the October 27, 2015 Committee Summary. The approval confirms the accuracy of the meeting record and allows it to become part of the official committee documentation.

This agenda item represents routine committee business, ensuring proper documentation and record-keeping of the committee's work and decisions over time.

October Financials General Fund

Commissioner Bill O'Mara and Rusty Cook presented the October financials for the General Fund during this informational session. The presentation focused on reviewing revenue streams and discussing variances in the monthly financial report.

The discussion involved several council members, with Kay, Mossotti, and Bledsoe participating in the review of the financial data alongside the primary presenters. The presentation covered the General Fund's performance through October, examining how actual revenues compared to projected amounts and identifying any significant variances that required explanation.

As an informational item, the October financials presentation served to keep the council updated on the government's fiscal position and revenue collection patterns. The discussion allowed council members to ask questions about specific revenue streams and gain clarity on any unusual fluctuations in the monthly financial data.

The presentation concluded without requiring any formal action from the council, as it was designed to provide transparency and keep elected officials informed about the ongoing financial health of the General Fund operations.

Urban Services Fund – Street Light Funding

The committee reviewed funding for street lights under the Urban Services Fund during agenda item 3. Stinnett served as the key speaker for this discussion item.

The session focused on examining the current funding structure and allocation for street light infrastructure within the Urban Services Fund framework. This discussion was informational in nature, with committee members reviewing the existing funding mechanisms and operational considerations related to street light maintenance and installation.

The agenda item provided an opportunity for the committee to assess the adequacy of current funding levels and discuss any potential adjustments or improvements to the street lighting program. As an informational discussion, no formal action was taken during this portion of the meeting.

The committee's review of street light funding represents part of the ongoing oversight of urban services infrastructure and the financial resources allocated to maintain essential city services for residents.

Economic Contingency Fund – Update

Tyler Scott presented an update on the Economic Contingency Fund during agenda item 4. The presentation focused on fund caps and included recommendations for the fund's management.

The discussion involved several council members who engaged with Scott's presentation. Key participants in the discussion included Farmer, F. Brown, Stinnett, and Bledsoe, who provided input and asked questions regarding the fund's status and proposed changes.

Scott's presentation covered the current state of the Economic Contingency Fund and addressed specific aspects related to fund limitations and caps. The update included recommendations for how the fund should be managed moving forward.

This was an informational presentation, with no formal action taken by the council. The item served to keep council members informed about the fund's status and to present staff recommendations for their consideration in future decision-making processes.

*Note: Specific transcript timestamps are not available for this agenda item.*

Items Referred to Committee

The committee reviewed several items that had been referred to them for consideration during this agenda item. The discussion was led by key speakers F. Brown and Bledsoe, who presented the various matters requiring committee attention.

Among the items discussed were the Solid Waste User Fee Structure and Quarterly Development Reports. These items represented ongoing municipal business that required detailed committee review before potential action by the full council.

The speakers provided information about each referred item, though specific details of their presentations were not captured in the available materials. The discussion appeared to focus on the procedural aspects of how these items would be handled by the committee moving forward.

Following the discussion, the committee approved the referral of these items, indicating they would proceed with their review process. This approval allows the committee to begin their detailed examination of each matter and prepare recommendations for future council consideration.

The outcome demonstrates the committee's acceptance of their responsibility to review these municipal matters and suggests they are prepared to dedicate the necessary time and resources to properly evaluate each item before making recommendations to the broader council.

*Note: Specific transcript timestamps were not available for this agenda item.*