HomeMy WebLinkAboutCity Council Committees - Operations Committee - 09/17/2019 (2) Page 1 of 2
Approved
Operations Committee
CC Ops Regular Meeting
Minutes
September 17, 2019
Date: September 17, 2019
Time: 4:02 p.m.
Place: Crystal Mountain Hall at Kent
Commons
Attending: Les Thomas, Committee Chair
Bill Boyce, Councilmember
Dennis Higgins, Councilmember
Agenda:
1. Call to Order 4:02 p.m.
2. Roll Call
Attendee Name Title Status Arrived
Les Thomas Committee Chair Present
Bill Boyce Councilmember Present
Dennis Higgins Councilmember Present
3. Changes to the Agenda
There were no changes to the agenda.
4. Approval of Minutes dated August 20, 2019
MOTION: Move to approve the Minutes dated August 20, 2019
RESULT: APPROVED [UNANIMOUS]
MOVER: Bill Boyce, Councilmember
SECONDER: Dennis Higgins, Councilmember
AYES: Thomas, Boyce, Higgins
5. Approval of Check Summary Reports Dated 8/1/2019 - 8/15/2019
and 8/16/2019 - 8/31/2019
MOTION: Move to approve the check summary report dated August 1
through August 15, 2019 and August 16 through August 31, 2019.
RESULT: APPROVED [UNANIMOUS]
MOVER: Dennis Higgins, Councilmember
SECONDER: Bill Boyce, Councilmember
AYES: Thomas, Boyce, Higgins
6. July Financial Report
Interim Financial Planning Manager Michelle Ferguson presented the monthly
financial report. Revenues are expected to end the year approximately $3.2
Operations Committee CC Ops Regular Meeting
Minutes
September 17, 2019
Kent, Washington
Page 2 of 2
million higher than budgeted. Revenues are increasing due to sales tax
revenue coming in very strong. All departments are remaining fairly close to
budget with an overall budget variance of $952 thousand. The police
department will likely go over budget due to overtime but we will continue to
monitor that.
7. 2nd Quarter Investment Report
Cash and Investment Officer Joe Bartlemay presented the second quarter
cash and investment report. Year-to-date investment interest revenue is
$2,533,776.05. PFM initiated five investment trades in the 2nd quarter. The
City is currently carrying greater than adequate liquidity in cash and the
LGIP. Portfolio allocations at 6/30/2019 were in compliance with the City's
investment policy.
8. Resolution of Intent – Sales and Use Tax for Affordable Housing -
Adopt
Merina Hanson presented a request to recommend Council adopt a resolution
declaring its intent to authorize a sales and use tax for affordable and
supportive housing in accordance with Substitute House Bill 1406. SHB 1406
creates a revenue sharing program for local governments which authorizes a
local sales and use tax credit. The tax will be credited against state sales
taxes collected within the City, meaning that taxes collected are, in effect,
shifted from the state to the City, and no additional taxes are paid by
consumers. In order to secure the additional funding provided by the
program, the City Council must first pass a resolution by January 27, 2020,
declaring its intent to adopt legislation to authorize the maximum capacity of
the tax. The City is not required to decide how the funds will be used at this
time, but the City Council must pass legislation imposing the tax by July 27,
2020. If adopted, the tax credit would be effective for up to 20 years.
MOTION: Adopt Resolution No. 1995, declaring the City's intent to
authorize a sales and use tax for affordable and supportive housing
in accordance with Substitute House Bill 1406.
RESULT: RECOMMENDED TO COUNCIL [UNANIMOUS] Next: 10/1/2019
7:00 PM
MOVER: Bill Boyce, Councilmember
SECONDER: Dennis Higgins, Councilmember
AYES: Thomas, Boyce, Higgins
9. Adjournment 4:25 p.m.
Cathie Everett
Committee Secretary