08/11/2020 - MinutesRole of the Finance Committee
The finance committee provides oversight of city budgeting, financial planning, and financial reporting. The committee recommends long-range
financial goals along with funding strategies for the operating and capital budgets. Human resource issues requiring policy direction are brought
before the committee. The committee serves as the advisory forum for transportation and street maintenance funding, and funding relating to the
transportation benefit district.
City of Port Orchard
Council Finance Committee
A meeting of the Council Finance Committee was held remotely with all participants
using Zoom on August 11, 2020 at 5:00 p.m.
PRESENT: Council members John Clauson, Beck Ashby, Shawn Cucciardi Mayor Rob
Putaansuu, Director of Finance Noah Crocker, Director of DCD, Nick Bond
The meeting was audio recorded.
Finance Report
The Finance Director discussed the Sales Tax and REET Revenue report
The sales tax revenue collected July 2020 is at 8.6% over its 2020 budget and 3.94%
over the 2019 actual sales tax revenue collected.
Real Estate Excise Tax collected thru July 2020 is at $513,026. This represents
approximately 112% of the biennial budget and approximately 29% of what was
budgeted for collections for 2020. The committee reviewed a fund balances and had no
questions or concerns.
The Finance Director requested any questions related to the Monthly Report, which was
sent to council and the Finance Committee had no questions. The Finance Department
will continue to closely monitor and provide monthly updates.
DCD/PW Development Fees
The DCD director discussed the updated fee resolution which includes adjustments to
language and cost. The committee discussed the fee calculations as well as the resulting
costs. The Mayor discussed notary services with the city.
Sewer CFC’s Discussion
The Finance Director walked through a presentation regarding the City’s Sewer Capital
Facility charges and sewer capital projects. The committee discussed the methodology
for generating the Sewer CFC and scenarios for the 2021-2022 biennial period. The
committee reviewed the Marina Pump station project budget and potential revenue
sources. The outcome was to bring this sewer CFC presentation to the next study
session and allow the full council to discuss. The Finance Committee supported the
100% interest and automatic annual CPI adjustment. If supported by the full council,
the Sewer CFC update adoption would come at the next council meeting.
Good of the Order
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The meeting adjourned at 6:00 pm.