Finance Committee Agenda and Packet 2025 01 16

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City Council Finance Committee Meeting Minutes November 21, 2024 Page 3 of 7 The Director of Finance presented the preliminary 2025 Work Plan to facilitate discussions on the work plan. The proposed work plan was included in the meeting packet. Staff will return to the Finance Committee at the next meeting with a final work plan for adoption. Committee Comments: Councilmember Hoefner commented that he has discussed this topic offline with the Director of Finance and he has asked for additional language in the first section explaining that these are larger projects the committee is hoping to take on in 2025, but dates have not been assigned in order to allow the coordination of these projects with the overall Council work plan priorities. He also proposed including the Finance Committee work plan document in Council meeting packets to keep track of the projects to ensure priorities aren't overlooked during the course of the year. Councilmember Hamlington asked if it would be useful for the committee to keep eyes on Parks and Open Space funds throughout the year. Councilmember Hoefner agreed with this suggestion, adding that a mid- year check -in might be useful. Councilmember Kern agreed with these suggestions and added that engaging OSAB before the mid -year check in on the Parks and Open Space Funds to get their input. Councilmembers Hamlington and Hoefner agreed with Councilmember Kern's suggestion. Councilmember Kern commented that early next year the committee should look at a structured methodology on how to determine calculations of Marshall Fire rebuild fees and how we are calculating for the costs that might be refunded to the residents. The Director of Finance asked Councilmember Kern for more detail on what information she is looking for. Councilmember Kern responded that other communities have put specific percentages around how they are going to be calculating the cost to the city and how they might refund some of the permit fees collected. She suggested the committee should have a deeper discussion around how that will be managed to make sure we're accurately accounting for it and fulfilling a commitment made to the Marshall Fire impacted residents impacted by total or partial loss to ensure we refund what we can to them. The Director of Finance suggested this be added as a major work initiative: Marshall Fire Permit Fees Revisited. Councilmember Hoefner commented that he's not as familiar with what the city's commitment is and asked the Interim City Manager for input. Interim City Manager Fox responded that she would follow up on this question and asked Councilmember Kern what communities she is referring to so staff can formulate the work plan item. Councilmember Kern will provide the Interim City Manager the information. Councilmember Hoefner suggested to keep this as a placeholder for now and add it for a final review of the work plan at a future meeting. Councilmember Kern commented that the committee should also look at affordable housing items mid- year to make sure we don't need to update the plans and see if there are opportunities to coalesce around housing goals. Councilmember Hoefner expressed concerns with overstepping bounds by taking over a project which belongs to the entire council. Councilmember Hamlington agreed with Councilmember Hoefner's comment and commented that she feels it needs to wait until the full council has determined the final workplan. Councilmember Kern commented that just a check in point from a finance committee perspective since funds have been allocated, suggesting that maybe mid -year the Finance Committee can look at where we are and how much farther we need to go to have ideas such as different appropriations or recommendations the committee could make to council. Councilmember Hamlington commented that 5/37