Finance Committee Agenda and Packet 2018 08 17

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City Council Finance Committee Meeting Minutes 07/16/18 Page 5 of 6 Chairperson Maloney asked why cost estimates are blank for some projects. Manager Golden stated that cost estimates are included for only those projects valued over $100K. Members and staff agreed to add "N/A" to the cost estimate column for those projects less than $100K. Finance Committee Members and staff discussed that C-I-P information is currently being provided in three different formats by three different departments (Public Works, Finance, City Manager). Chairperson Maloney and Mayor Muckle requested to meet with City Manager Balser to review the existing reports generated, and to format one new report to be used City-wide and presented to the Finance Committee on a quarterly basis. The reports and corresponding narrative can be located in the packet of the July 16, 2018 Finance Committee Meeting. STAFF REPORTS Review of Damage Estimates from Hail Storm City Manager Heather Balser informed the Finance Committee that (37) City vehicles were damaged by the recent hail storm and (4) vehicles were totaled. Manager Balser stated that the City has a $1 K deductible for each vehicle and will be responsible to pay a total of $29K, but that Traveler's will be paying $23K for the totaled vehicles and $84K for the remaining damaged vehicles. Ms. Balser also stated that a hail team will be at City Services on July 23, 2018 to perform vehicle dent repair. With regard to real property damages at City facilities, Manager Balser stated that the City's insurance coverage provides for a $5K deductible "per event". Traveler's is sending 10 insurance claim adjusters to all affected City facilities on July 17. Traveler's has stated that it will cover the full replacement or repair costs, and that such costs will not be based on any depreciated value. City Manager Balser stated that bids will be presented to City Council for some of the needed repairs. DISCUSSION ITEMS FOR THE NEXT REGULAR MEETING Finance Committee Members and staff discussed the items to be covered at the next Finance Committee meeting. Chairperson Maloney and City Manager Balser agreed to work together to prepare/amend the Golf Course Replacement and Repair worksheet in advance of the August meeting. The next regular Finance Committee Meeting is scheduled for Monday, August 20, 2018 at 7:30 a.m. Items scheduled for discussion at the next meeting include: 6