HomeMy WebLinkAboutCity Council Committees - Operations - 03/02/2004Operations Committee Minutes
March 2, 2004
Committee Members Present: Acting Chair Julie Peterson, Bruce White
Tim Clark was absent, however, had previously concurred on all agenda items
The meeting was called to order by Julie Peterson, Acting Chair at 4:03 P.M.
APPROVAL OF MINUTES OF FEBRUARY 17, 2004
Bruce White moved to approve the minutes of the February 17, 2004, Operations Committee
meeting. The motion was seconded by Julie Peterson and passed 3-0.
APPROVAL OF VOUCHERS DATED FEBRUARY 27 , 2004
Finance Director Bob Nachlinger presented the vouchers for February 27, 2004, for approval.
Bruce White moved to approve the vouchers dated February 27, 2004. Julie Peterson
seconded the motion, which passed 3-0.
2003 CONSOLIDATED ANNUAL PERFORMANCE EVALUATION REPORT (C.A.P.E.R.)
Housing and Human Services’ Manager, Katherin Johnson, presented the 2003 Consolidated
Annual Performance Evaluation Report (C.A.P.E.R.). Ms. Johnson explained that the 2003
Consolidated Annual Performance and Evaluation Report (CAPER) is a report to the U.S.
Department of Housing and Urban Development (HUD) on the City’s activities and accomplishments
using Community Development Block Grants (CDBG) and other funds. The report is required by
HUD annually and must be submitted by March 31st of each year. The report includes information
on how CDBG funds were used to further the Goals and Strategies of the Consolidated Plan. Other
activities conducted by the City that also further the Consolidated Plan are included in the Report.
Bruce White moved to recommend approving the 2003 Consolidated Annual Performance
and Evaluation Report and authorizing the Mayor to submit the report to HUD. The motion
was seconded by Julie Peterson and passed 3-0.
Operations Committee, 3/2/2004
2
2004 LIMITED TAX GENERAL OBLIGATION REFUNDING BONDS ORDINANCE
Finance Director Bob Nachlinger presented the 2004 Limited Tax General Obligation Refunding
Bonds Ordinance for the 2004 refunding of the 1996 LTGO Bonds which he proposes will save the
City $1.28 million over the life of the refunding issue. It will also shorten the term of these bonds by
four years. The restructuring of the outstanding debt with this issue will eliminate the variability of
the annual debt service costs. The annual debt service costs for the LTGO debt shows an extreme
amount of variability over its life. By refunding and restructuring the debt the City can save a
significant amount; allow for a lesser impact to the budget and allow for the issuance of additional
debt with a reduced impact to future budgets. This transaction saves $800,000 in each of the next
two years.
Bruce White moved to recommend that the Operations Committee approve the 2004 Limited
Tax General Obligation Refunding Bonds Ordinance and forward it to the City Council at their
meeting of March 16, 2004. The motion was seconded by Julie Peterson and passed 3-0.
BUDGET ADJUSTMENT ORDINANCE FOR ADJUSTMENTS ON DECEMBER 31, 2003
Finance Director Bob Nachlinger presented the Budget Adjustment Ordinance for Adjustments on
December 31, 2003. Mr. Nachlinger advised that authorization is requested to approve the gross
budget adjustment ordinance totaling $2,244,226 for final budget adjustments on December 31,
2003, of which $1,013,866 has previously been approved by Council. These budgets were for three
(3) LIDS. Nos. 355, 356, and 357. The $1,230,360.00 not yet approved by Council represents
street mitigation contributions received from developers during the permitting process. Mr.
Nachlinger advised that these budget items were not included on the year-end budget adjustment
ordinance approved by Council on December 9, 2003.
Paul Scott, Public Works Accounting Manager further advised that this proposed ordinance is
primarily a housekeeping issue with the funds held in the asphalt overlay account prior to the
implementation of JDE system.
Bruce White moved to recommend that the Operations Committee approve the Budget
Adjustment Ordinance for Adjustments on December 31, 2003, and forward it to the City Council
at their meeting of March 16, 2004. The motion was seconded by Julie Peterson and passed
3-0.
DECEMBER 2003 PRELIMINARY FINANCIAL SUMMARY
Finance Director Bob Nachlinger presented the December 2003 Preliminary Financial Summary for
informational purposes only. No action on this item is necessary.
The meeting was adjourned at 4:27 P.M.
Renee Cameron
Operations Committee Secretary