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CITY COUNCIL BUDGET COMMITTEE MINUTES
February 22, 1993
PRESENT: Leona Orr, Jim White, Tony McCarthy, May Miller, Cliff Craig, Sue
Viseth, Becky Fowler
Committee Member White called the meeting to order at 4:00 p.m.
(McCarthy noted that the items on this agenda have been pre-approved by
Chairman Johnson)
January Financial Report
Acting Finance Director Miller distributed the summary financial report for
the period ending January 31, 1993. Miller reviewed the report with the
Committee members.
1994-1999 CIP Kickoff Discussion
Acting Finance Director Miller proposed that with the down-sizing in city-wide
staffing, the Capital Improvement Program (CIP) be changed to a "Mini-Update"
to save time and labor in the individual departments. She noted that a
quality CIP can be accomplished by re-using information already available and
working with the Planning Department on updating growth management compliance.
It was the consensus of the Committee that a Council Workshop be held to
gather all input and areas in need of CIP funding before priority target
issues can be established.
LID Prepayment
Acting Finance Director Miller noted that authorization is requested for early
payoff of the remaining balance of $397,913 on LIDS 297 and 320. She
explained that these LIDS have high interest rates and that the City will save
interest costs of $55,241 is paid early. She also noted that if approval is
given, it will reduce the City's debt, save money and free up $100,000 for
capital projects in 1994. White moved approval for authorization of early
payoff for LIDS 297 and 320. Orr seconded and the motion carried 3-0.
Early Retirement Options
Sue Viseth, Human Resources Analyst, explained that the City of Kent is not in
a position to offer early retirement to its employees but that a voluntary
retirement incentive program has been looked into and can be offered as an
alternative. White noted that this program should be presented as a voluntary
program and moved that it be taken to the Council for approval with a
recommendation to accept from the Budget Committee. Orr seconded and the
motion carried 3-0.
The meeting adjourned at 4:45 p.m.