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08/17/2021 - MinutesCity of Port Orchard Council Finance Committee A meeting of the Council Finance Committee was held via Zoom link August 17, 2021 at 5:00 p.m. PRESENT: Council members John Clauson, Beck Ashby, Mayor Rob Putaansuu, Director of Finance Noah Crocker, Nick Bond, DCD Director. The meeting was recorded. Finance Report The Finance Director discussed the Sales Tax and REET Revenue report. The sales tax revenue collected July 2021 is at 33% over its 2021 budget and 25% over the 202o actual sales tax revenue collected. Real Estate Excise Tax collected thru July 2021 is at $1,402,994• This represents approximately t00% of the biennial budget and approximately 211% of what was budgeted for collections for 2021 YTD. The Finance Director reviewed all the fund balances including the monthly budget report and the committee had no questions. The Finance Director discussed the $1.4 million of ARPA money which was received in August. Additionally, the committee reviewed the Impact Fee's received to date. The Finance Director will report back after 3rd quarter on the CFC balance as well as Impact fees. Law Enforcement Legislative Funds The legislature authorized one-time funds to municipalities to offset costs generated by law enforcement and criminal justice related to legislation enacted between Jan 1, 2020 and June 30, 202o1. The City is bringing forward a resolution accept the funds. Water CFC Code -Exceptions The Finance reviewed the Water and Sewer Capital Facility Charges exceptions language change which was adopted in the previous month. The previous month's adoption language needed to be adjusted to meet the City Council's intent of the change. DCD Director discussed the concept of a Water Credit Code change. The intent is to match the Sewer credit code language with a few differences. One being recognition of a current agreement the city has with McCormick from 1998 needing to be exempt The Committee discussed the alternatives and were supportive of the proposal. Role 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. American Rescue Plan Funding The finance director discussed the American Rescue Plan funding and the ordinance going to council for acceptance. Furthermore, he walked through the various infrastructure projects the City intends on using the funds for. Kitsap Health District The mayor discussed the Kitsap Health District requesting additional funding to pay for a special position. The Finance Committee discussed and did not think this should be a special request but rather this cost should be included through the regular budgeting process. Derelict Boat Destruction The mayor discussed the growing problems of derelict vessels in the water. The mayor discussed adding more funding to seize and destroy vessels. Good of the Order DCD director shared information on OFM population data. Finance Director shared information regarding an IRS invoice and the actions the finance department is taking. The meeting adjourned at 5:55 pm. Role 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.