Finance Committee Agenda and Packet 2022 03 21

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City Council Finance Committee Meeting Minutes 02/21 /22 Page 4 of 5 CASH & INVESTMENTS REPORT FOR THE QUARTER AND YEAR ENDED DECEMBER 31, 2022 Kevin Watson, Finance Director, presented the fourth quarter Cash & Investments Report. The report and corresponding narrative can be located in the packet of the February 21, 2022 Finance Committee Meeting. MARSHALL FIRE — FINANCIAL IMPACTS Kevin Watson, Finance Director, presented a proposal for an initial 2022 budget amendment, which contained only items known and measureable at the time of the meeting. The proposed amendment Resolution divided the amendment into six categories: 1. To establish budgets for City expenditures in response to the Marshall Fire. 2. To establish interfund transfer budgets from the General Fund to replace enterprise revenue lost as a result of implementing Ordinance 1823. 3. To adopt other operating adjustments that are non -fire -related. 4. To adopt adjustments to the wage and benefit budgets for the implementation of recognition bonuses. 5. To adopt adjustments to the wage and benefit budgets for new positions and GIG workers. 6. To adopt adjustments to the overtime budgets in response to time spent on the Marshall Fire. The proposed budget amendment increases the 2022 expenditure budget by $2,922,110. All funds are expected to remain in full compliance with the Reserve Policies. The amendment documentation and corresponding narrative can be located in the packet of the February 21, 2022 Finance Committee Meeting. III 6*9111*4191k'INN kll*:'i:1*111W1:ALM440IZIL9 The next regular Finance Committee Meeting is scheduled for Monday, March 21, 2022 at 4:00 p.m. Items to be included in the next meeting are: • Preliminary Financial Statements for the Quarter and Year Ended December 31, 2021 • Capital Improvements Report for the Quarter and Year Ended December 31, 2021 • Draft of New Finance Committee Work Plan