Loading...
09/08/2020 - MinutesCity of Port Orchard Council Finance Committee A meeting of the Council Finance Committee was held remotely with all participants using Zoom on September o8, 202o 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 August 2020 is at 9.61% over its 202o budget and 4.57% over the 2oi9 actual sales tax revenue collected. Real Estate Excise Tax collected thru August 2020 is at $598,882. This represents approximately 118% of the biennial budget and approximately 30% 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. Due to technology failures this portion of the meeting did not get recorded. Purchase & Sale Agreement The Finance Director discussed the purchase and sale agreement as well as the reimbursement resolution going to council. The committee had no concerns or further questions on those documents. The Finance Committee supports this action. Budget Amendment The Finance Director discussed the upcoming budget amendments. The Budget amendments are primarily cleanup items with no significant changes to the overall budget. The budget amendment will include the purchase of the Bethel Road properties purchase as well as catching up on a activity regarding the Tremont project. CARE Update and Discussion The Finance Director discussed the emergency proclamation resolution coming forward at a future date. The City is continuing to incur costs as well as submitting to the Dept of Commerce for reimbursement. The Mayor discussed additional Covid related initiatives and spending in the city. The Mayor discussed piloting a web -based phone system if the CARES funding could pay for it as it would allow greater telecommuting. The Mitel 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. phone system is starting to fail, and a replacement system might be beneficial. The committee discussed all options to apply CARES funding and assist the citizens of the City of Port Orchard. 2021-2022 Biennial Budget Process The Finance Director updated the finance committee of the status of the biennial budget process as well as reviewed the Biennial Budget timeline. City of Port Orchard Audit The City is engaged in an audit and an entrance interview will be forth coming. Procurement Policy An update will be coming forward to update the procurement policy to be consistent with a change in the state standards. Good of the Order XXXY—XY—X The meeting adjourned at 5:40 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.