Finance Committee Agenda and Packet 2020 07 21

Home Browse Search

City Council Finance Committee Meeting Minutes 06/23/20 Page 4 of 9 security. Director Neves thanked City Clerk Muth for her assistance and expertise with Zoom. Finance Committee Chairperson Maloney thanked Director Neves for the excellent report and he and Finance Committee Member Lipton expressed their appreciation to IT staff. Chairperson Maloney commented that the Director's communication included information and costing related to a 2021 CIP request for the purchase of Varonis, a file level data scan tool to enhance security monitoring, and various enhancements related to teleworking. Chairperson Maloney asked Director Neves if any additional funding is necessary for 2020. Member Maloney also commented that expenditure reductions would be discussed in the next agenda item, but noted the reductions include a freeze on replacing a desktop coordinator. Chairperson Maloney asked Director Neves if this reduction is necessary and prudent. Finance Committee Member Lipton also stated reductions in the Renewal and Replacement budget for IT were of concern. Member Lipton stated he does not favor sacrificing the future of City assets to meet current budget shortfalls. Director Neves stated IT is in a good position for 2020 based on all the work and infrastructure put in place over the last several years. Director Neves stated that IT needed to do its part in the budget reductions, and the functions of the vacant position have been spread among staff and is currently manageable. City Manager Balser stated that there will be additional infrastructure expenses for 2020 related to teleworking, but that these eligible purchases are anticipated to be funded by CARES money. The reports and corresponding narrative can be located in the packet of the June 23, 2020 Finance Committee Meeting. 2020 REVENUE PROJECTIONS AND PROPOSED EXPENDITURE REDUCTIONS Finance Director Kevin Watson presented to the Finance Committee a summary of the revenue assumptions discussed with City Council June 9 for the City's major revenue sources, and stated the corresponding revenue projections were rolled up for major funds. Director Watson stated the tables of the revenue projections reflect a year -over -year percent -of -change. Director Watson presented a table of the City's three main operating funds which reflect the latest percentage impact based on current revenue projections. Director Watson stated that the second table provided reflects the percent impact for the same funds after the City Manager implemented additional operational and capital expenditure reductions. 0