HomeMy WebLinkAbout04/25/2023 Study Session10
•:• 25, 2023
City Hall — Council Chambers - 129 N 2nd Street, Yakima, WA
5:00 p.m. meeting - conducted in person and virtually via Zoom
1 . Roll Call
Present: Mayor Janice Deccio, presiding and Councilmembers Matt Brown, Patricia Byers,
Holly Cousens, Danny Herrera, and Eliana Macias (attending via Zoom)
Staff: City Manager Robert Harrison, City Attorney Sara Watkins, City Clerk Sonya Claar
Tee, and City Clerk in -training Rosalinda I barra
Absent: Assistant Mayor Soneya Lund (excused)
2, Public comment (allow 15 minutes)
To "M
3. Financial Policy Review and Alternative Revenue Options
City Manager Bob Harrison provided the foundational information regarding budget status
and challenges forecasted for future budget cycles, and the expectations for how the
upcoming budget discussions will be presented for Council's consideration. Mr. Harrison
provided an overview of what healthy and resilient cities look like regarding budget matters.
Jennifer Ferrer -Santa Ines, Director of Finance & Budget, reviewed existing financial
policies, which were last presented to Council in 2013, and noted some recommended
modifications will be presented at a future meeting.
Director Ferrer -Santa I nes reported at the close of 2022, the City did not meet Council's
fund balance policy to maintain 16.7% (reflects two months of operational expenditures) in the
City's General Fund reserves, which provides for general government services, including
public safety, parks, streets, and organizational support of internal service departments. Ms.
Ferrer -Santa Ines added that the City has been operating with the 1 % property tax increase
year after year since voters approved Initiative 747 in 2001. Meanwhile, inflation remains high
and labor contracts have negotiated cost of living increases as high as 5.5%. She stated this
is no match for a 1 % increase in property tax and the volatility of sales tax collections. After
questions from Council members, Ms. Ferrer -Santa Ines stated the Yakima County Assessor
offered to present to the City Council information on how property taxes are calculated and
distributed, which will be scheduled in the future.
Im
Ms. Ferrer -Santa Ines also reported on revenue options she provided to the Council in July
2022, but there has been no action and without additional revenue generation, the only option
remaining is to reduce service levels. An overview of potential revenue options was
presented for Council discussion and future consideration.
4. Adjournment
meeting on April 27, 2023, at 11:30 a.m. at the Valley Mail - Food Court, 71 onXG a p,
WA. The motion carried by unanimous vote, Lund absent. The meeting adjourned at 16:33i
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