HomeMy WebLinkAbout09/06/2011 05B Minutes 08-24-2011 Council Budget Committee :', q:,^-_ 5' y ,'..::.�.T' ii m, .::- T- .,'... ^,ir- ....,_._. „ q , , ..; . _r'T• _- _ _ _
Vakina.City C�mlmittee;;
Council Budget Committee
CED Conference Room (2nd floor)
•
Thursday, August 24, 2011
3:30 — 4:45 p.m.
Attendance: Council Members: Micah Cawley, Kathy Coffey; Bill Lover
Staff: Michael Morales, Cindy Epperson, Tara Lewis, Robin Dukart
Discussion:
D Michael Morales informed the Council Budget Committee revenue projections have
been continually updated and appear to have stabilized with tax revenue sources
flat. Cindy Epperson continued; summarizing an overall conservative increase
estimate of projected tax revenue of approximately 0.8 %.
D The Committee reviewed the POG allocations staff prepared utilizing the guidelines
established at the June 21, 2011 Council meeting. The 2012 General Government
Budget indicates a $1.3m deficient and does not provide for anticipated increases:
labor negotiations, medical insurance above 7 %, or risk management above 1
already factored in.
D Cindy Epperson. verified Council's instructions for non - recurring expenses as
authorized use of reserves.
D Tara Lewis presented the Committee with an overview of the current investment
portfolio stating the current investment policy limits the City's ability to earn optimal
rates of return by limiting maturity parameters for current investments.
• Kathy Coffey moved to forward the amended Investment Policy to full Council
with recommendation for discussion. Bill Lover seconded the motion. Motion
carried 3 — 0.
D Cindy Epperson provided Council Budget Committee with an outline of likely Budget
Appropriation for 2011.
D Michael requested reinstating the Building Maintenance Specialist position in 2011
due to the operational impact of the deleted position.
• Micah Cawley moved to present to the full Council with recommendation. The
motion was seconded by Kathy Coffey. Vote 2 — 1 (Bill Lover)
Next Meeting: September 28, 2011
CED Conference Room
Wit ( � , i
Committee Chair (Micah Cawley W
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