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City Council Finance Committee <br />Meeting Minutes <br />02/20/17 <br />Page 3 of 6 <br />The reports and corresponding narrative can be located in the February 20, 2017 <br />packet of the Finance Committee Meeting. <br />CAPITAL PROJECTS REPORT FOR THE MONTH ENDED DECEMBER 31, <br />2016 <br />The Finance Committee Members reviewed the report and made certain <br />recommendations. The summary of projects and recommendations are included <br />as an attachment to these minutes. <br />The original reports and corresponding narrative can be located in the packet of <br />the February 20, 2017 Finance Committee Meeting. <br />BUDGET AMENDMENT <br />Finance Director Kevin Watson presented to the Finance Committee a draft of a <br />resolution amending the 2017 budget appropriations. Director Watson stated <br />that department staff discussions with the City Manager regarding the pros and <br />cons of the new program and sub -program chart of account structure resulted in <br />changes to the allocation of wages, benefits and other operational costs. <br />Director Watson stated that the City's Operating Budget Policy requires a budget <br />amendment when allocations are moved between funds. <br />Finance Director Watson distributed a new summary table of the changes to the <br />Finance Committee Members stating that the table included on page 12 of the <br />packet was incorrect. <br />Finance Committee Chairperson Stolzmann asked if there were any changes in <br />the scope of the revised budget. Director Watson stated there were not, and that <br />the budget amendment simplifies the accounting structure. City Manager <br />Fleming stated that department staff shared with him the difficulties in having so <br />many allocations for a single purchase. As an example, City Manager Fleming <br />stated that City Services was having to allocate several single item purchases <br />across (26) programs and sub -programs. <br />Finance Director Watson and Finance Committee Members discussed that these <br />changes would require an off -ledger accounting of indirect costs that could be <br />pulled into various programs and sub -programs. <br />The draft Resolution and narrative can be located in the February 20, 2017 <br />packet of the Finance Committee Meeting. <br />RESIDENTIAL ASSESSMENT RATE (GALLAGHER AMENDMENT) <br />4 <br />