Finance Comm Minutes 09-10-2019 - Laserfiche WebLink

Home

Finance Commission Meeting Minutes September 10, 2019 Roll Call/Announcements The Finance Commission (FC) meeting was called to order at 6:30 p.m. Chair Hodder requested staff call the roll. Commissioners Present: Matt Harold, Edwin Hodder, Ryan Lee, John Murray, Jack Reif, and Dan Sagisser Commissioners Absent: None. Staff Present: City Manager Patrick Trudgeon Approve Agenda The agenda was approved as distributed. Receive Public Comments Ms. Cynthia White, Churchill Street Ms. White wondered what the interest was on the city’s current debt. She knew that at the time the city had gotten the parks bond, the interest rate was quite low and is still low. She wondered if the current interest rate is lower than a couple of years ago. If it is, she wondered if the city should consider paying that off and getting a new loan with a lower debt. Mr. Trudgeon indicated he did not know the rate off hand but would find that out and send the information to Ms. White along with information to the Finance Commission. Approval of Meeting Minutes Commissioner Reif noted line 113 should be changed to: “subcontractors.” Line 268 should be changed to: “on cash reserves”. Commissioner Murray indicated line 289 should be changed to: “choking”. Chair Hodder explained line 171 to 176 should be changed to: “Chair Hodder noted one of the issues that will come up during the budget discussion that there are a lot of needs in the 2020 budget. The percentage increases were also significant from 2019 to 2020. That's something that will weigh heavily on the Commission tonight when we have the county and the school district that also have major capital needs. We will need to look at all three entities and examine the impact on the average residential household”. Commissioner Murray moved, seconded by Commissioner Reif to approve the August 13, 2019 meeting minutes as amended. The motion carried unanimously.