HomeMy WebLinkAboutCity Council Committees - Operations - 06/02/2015 E„NT q� w,
OPERATIONS COMMITTEE MINUTES
June 2, 2015
Committee Members Present: Les Thomas, Chair, Dana Ralph and Bill Boyce.
The meeting was called to order by Les Thomas at 4:00 p.m.
1. ROLL CALL
2. CHANGE TO AGENDA.
There were no changes to the agenda.
3. APPROVAL OF THE CHECK SUMMARY REPORT DATED 5/1/2015 THROUGH
5/15/2015
D. Ralph moved to approve the check summary report dated 5/1/2015 through
5/15/2015. B. Boyce seconded the motion, which passed 3-0.
4. APPROVAL OF MINUTES DATED MAY 19, 2015.
B. Boyce moved to approve the Operations Committee minutes dated May 19, 2015. D.
Ralph seconded the motion, which passed 3-0.
S. APRIL MONTHLY REPORTS.
Finance Director Aaron BeMiller provided details to members about the April financial
report. The new format adds information in a more concise fashion than past reports.
Numbers through April are favorable for the City.
6. RFA SUMMARY ANALYSIS FOR KENT AND AUBURN.
From an earlier resident request this year, Mr. BeMiller provided an update on the City's
contract with the Kent Fire Department Regional Fire Authority (RFA) and the City of
Auburn's contract with the Valley Regional Fire Authority (VRFA). The chart, page 17 of
the agenda packet, reflects a high level comparison of the two contracts and services
provided. However, it does not take into account the level of service or related costs
and was said it's like comparing apples to oranges.
Some cost differences, in terms of governance, are: Kent has six members while
Auburn has nine; the City makes payments to RFA for emergency management, fire
prevention and fire investigation services, while Auburn does not pay the VRFA except
for pass-through purposes.
The resident that requested this information attended the last RFA meeting. It was said
that the resident had some understanding but was going to meet with Captain Rabel for
further clarification if needed.
Operations Committee Minutes
June 2, 2015
Page: 2
7. HYAS GROUP, LLC CONSULTANT SERVICES AGREEMENT RENEWAL
Benefits Manager Becky Fowler and Human Resources Analyst Patrice Gillum requested
that the Hyas Group, LLC be allowed to extend their consulting services agreement for
the next three years for the City's deferred compensation (457) plan. The Hyas Group
agrees to serve as a co-fiduciary, providing investment performance monitoring, plan
administration, education and training and ongoing support to the City's fiduciary
committee. In addition, they will be performing a Request for Proposal (RFP) for the
City's third-party administrator deferred compensation plan in 2015/16.
The City's fiduciary committee recommends continuing the consultant services
agreement with the Hyas Group. They are an independent investment consulting firm
that provides services largely to institutional investors including defined contribution
and defined benefit retirement plan clients along with endowments and foundations.
The Hyas Group's fee of $157k break down is a $117k three year contract and $40k
going towards the RFP. It was said that there is no impact to the general fund and there
is a deferred compensation fund that provides payment to the Hyas Group's costs. ICMA
gives back a percentage of the investments of employees which is over $50k a year. For
2014, there is a $123k balance, a portion of which will be paid back to employees as
there is too much in the fund at this time.
D. Ralph moved to recommend Council authorize the three year consultant services
agreement with the Hyas Group subject to approval of final terms and conditions by the
City Attorney. B. Boyce seconded the motion, which passed 3-0.
The meeting was adjourned at 4:26 p.m. by L. Thomas.
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Jennifer Hays
Operations Committee Secretary