FEDRAC MINUTES 10-24-2017 CITY'0i
Federal Allay
City Council
Finance/Economic Development/Regional Affairs Committee
Tuesday, October 24,2017 Federal Way City Hall
4:30 p.m. SUMMARY MINUTES Hylebos Conference Room
CALL TO ORDER: Committee Chair Duclos called the meeting to order at 4:30 p.m.
COMMITTEE MEMBERS IN ATTENDANCE: Councilmember Honda, Councilmember Moore
COMMITTEE MEMBER EXCUSED:
COUNCILMEMBERS IN ATTENDANCE: Deputy Mayor Burbidge, Councilmember Koppang,
Councilmember Assefa-Dawson
STAFF MEMBERS IN ATTENDANCE: City Attorney, Ryan Call; IT Manager, Thomas Fichtner;
Economic Development Director, Tim Johnson; Parks and Recreation Director, John Hutton;
Accounting Supervisor, Chase Donnelly; Administrative Assistant, Robyn Buck
OTHERS PRESENT:
PUBLIC COMMENT:
APPROVAL OF SUMMARY MINUTES: Motion to approve the September 26, 2017 minutes;
motion seconded and carried 3-0.
Motion to amend the agenda to include the Printer Maintenance Contract Award; motion
seconded and carried 3-0.
PORT OF SEATTLE, "CENTURY AGENDA" GRANT FOR ECONOMIC DEVELOPMENT
PARTNERSHIP PROGRAM: Presented by Economic Development Director, Tim Johnson.
The 2017/18 grant from the Port of Seattle is for $65k. This amount will help to fund
interns to work with Economic Development. Just as last year, 400 businesses, available
through data bases, will be contacted and interviewed by the interns. The grant is similar to
the grant from last year.
Motion to forward the proposed grant contract the November 7, 2017 consent agenda for
approval; motion seconded and carried 3-0.
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ORDINANCE: 2017-2018 MID-BIENNIUM BUDGET ADJUSTMENT: Presented by Accounting
Supervisor, Chase Donnelly.
Mr. Donnelly stated that the modification is for 2017 budget only. The proposed changes
are still within in the Fund Balance Reserve Policy that was set by Council. The committee
members would like to have a study session on finding additional revenue during the future
budget process.
Motion to forward the approval of the proposed ordinance to the November 21, 2017
Council agenda for the first reading; motion seconded and carried 3-0.
ORDINANCE: 2018 PROPERTY TAX LEVY: Presented by Accounting Supervisor, Chase
Donnelly.
The 2018 proposed property tax levy is based on the 1% increase plus new construction.
The proposed levy is the lower of 1% and IPD (IPD over 1%).
Motion to forward the approval of the proposed ordinance to the November 21, 2017
Council agenda for the first reading; motion seconded and carried 3-0.
RESOLUTION: PROPOSED REVOLVING INTER-FUND LOAN FOR TRANSPORTATION CAPITAL
PROJECT FUND: Presented by Accounting Supervisor, Chase Donnelly.
This resolution is for Council to authorize an InterFund loan (up to $2.5m) to fund the LED
Street Light Conversion that was approved on October 3, 2017.
Motion to forward the approval of the proposed resolution to the November 7, 2017
Council agenda for approval; motion seconded and carried 3-0.
AUTHORIZING THE FINANCE DIRECTOR TO CERTIFY THE LEVY: Presented by Accounting
Supervisor, Chase Donnelly.
This is to authorize the Finance Director to certify the 2018 Property Tax Levy.
Motion to forward the approval of the Authorization of the Finance Director to Certify the
Levy to the County Legislators to the December 5, 2017 Council agenda for approval;
motion seconded and carried 3-0.
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MONTHLY FINANCIAL REPORT— SEPTEMBER 2017: Presented by Accounting Supervisor,
Chase Donnelly.
Mr. Donnelly summarized the Monthly Financial Report for September 2017. Notable areas
included:
• Dumas Bay — Doing very well; $60k above 2017 ytd budget
• REET— Doing very well
• Sales Tax — $86k below 2017 ytd budget, and $135k below 2016 ytd budget
• Retail Sales Tax — Slightly up over 2016
• Utility Tax — Doing well; $853k above 2017 ytd budget
• Property Tax — Will be remitted to the City in October
Motion to forward approval of the September 2017 Monthly Financial Report to the
November 7, 2017 consent agenda for approval; motion seconded and carried 3-0.
VOUCHERS—SEPTEMBER 2017: Presented by Accounting Supervisor, Chase Donnelly.
Councilmember Honda asked for clarification on the Principal Target Property payment.
This is our principal payment to KeyBank. (Due to the sale of a portion of land for the
hotel.)
Motion to forward the Vouchers to the November 7, 2017 consent agenda for approval;
motion seconded and carried 3-0.
POPULAR ANNUAL FINANCIAL REPORT: Presented by Accounting Supervisor, Chase
Donnelly.
Mr. Donnelly indicated page numbers and summarized some of the topics. Committee
Chair Duclos would like to have a discussion regarding a plan to have a study comparing
staff wages to other cities' staff members on the agenda next time for next year when we
are looking at the budget.
Motion to have a report under Council business at the next Council meeting on the
Popular Financial Report; motion seconded and carried 3-0.
PAEC MONTHLY REPORT SEPTEMBER: Presented by Accounting Supervisor, Chase
Donnelly.
There are still outstanding Garco invoices which are not reflected in this report.
Councilmember Honda requested a detailed monthly report on how often the facility is
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being used; sales, seats sold, revenue, etc. The PAEC Operating Fund in the Monthly
Financial Report does not provide enough detail. In regards to the following motion, Mr.
Donnelly clarified that the "items discussed" were pertaining to the Capital Report.
Councilmember Honda agreed that the motion was to forward the Capital Report to the
next Council meeting.
Motion to bring the Performing Arts and Event Center to Council business at the next
Council meeting for a report on the items discussed (the Capital Report); motion seconded
and carried 3-0.
PRINTER MAINTENANCE CONTRACT AWARD: Presented by IT Manager, Thomas Fichtner.
Mr. Fichtner recommends awarding the printer maintenance contract to Copiers
Northwest. The contract information needed was not presented at the last FEDRAC
meeting and therefore, was brought back to this committee for approval.
Motion to forward the proposed contract to the November 7, 2017 consent agenda for
approval; motion seconded and carried 3-0.
OTHER:
Bond Update - not presented.
NEXT MEETING: Tuesday, November 28, 2017 @ 4:30 p.m.
MEETING ADJOURNED: 5:14 p.m.
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