HomeMy WebLinkAbout2016-03-01 Finance Committee Action MinutesSpecial Meeting
Tuesday, March 1, 2016
Chairperson Filseth called the meeting to order at 6:06 P.M. in the Community Meeting Room, 250 Hamilton Avenue, Palo Alto, California.
Present: Filseth (Chair), Holman, Schmid, Wolbach arrived at 6:10 P.M.
Absent:
Agenda Items
1. Receipt of Library Bond Oversight Committee Quarterly Reports, Discussion and Recommendation to Council Regarding use of Remaining Library Bond Funds and Decommissioning of the Library
Bond Oversight Committee.
MOTION: Council Member Schmid moved, seconded by Council Member Holman to recommend the City Council:
Accept the Library Bond Oversight Committee (LBOC) quarterly reports transmittal;
Accept the LBOC’s recommendation that $1,051,500 in Library Bond Funds be transferred to the infrastructure reserve fund to repay the infrastructure reserve for expenditures for bondable
improvements made to Rinconada Library;
Accept the LBOC’s recommendation to approve the “Last and Final List of Potential Expenses for Library Bond Funds”; and
Accept the LBOC’s recommendation that the LBOC be decommissioned.
MOTION PASSED: 4-0
2. Finance Committee Review and Recommendation to the City Council Regarding Adoption of a Budget Amendment for Fiscal Year 2016 to Adjust Budgeted Revenues and Expenditures in Accordance
With the Recommendations in the FY 2016 Midyear Budget Review Report.
MOTION: Council Member Wolbach moved, seconded by Chair Filseth to recommend to the City Council adoption of the FY 2016 Mid-year Budget Amendment which includes:
Proposed amendments to the Fiscal Year 2016 Budget Appropriation Ordinance for the General Fund, Enterprise Funds, Special Revenue Funds, Internal Service Funds, and Capital Improvement
Projects Fund; and
Proposed amendment to the Fiscal Year 2016 Budget Appropriation Ordinance Capital Improvement Project; and
Proposed amendments to the Fiscal Year 2016 Table of Organization:
Reclassify 2.0 Buyers to 2.0 Senior Buyers in the Administrative Services Department; and
Reclassify 1.0 Management Analyst to 1.0 Senior Management Analyst, 0.6 in the Public Works Department and 0.4 in the Planning Community Environment; and
Eliminate two 0.5 Account Specialists (part-time benefited) and add 1.0 Account Specialist (full time) in the Administrative Services Department.
AMENDMENT: Council Member Schmid moved, seconded by Council Member XXX to postpone the Capital Improvement Budget adjustment to transfer $1.79 million to the University Avenue Parking
Assessment District.
AMENDMENT FAILED DUE TO THE LACK OF A SECOND
MOTION PASSED: 4-0
3. Introduction and Discussion of the Draft Fiscal Analysis of the City of Palo Alto 2030 Comprehensive Plan Update (Staff requests this item be moved to March 15, 2016).
MOTION: Chair Filseth moved, seconded by Council Member Wolbach to continue this item to the March 15, 2016 Finance Committee meeting.
MOTION PASSED: 4-0
4. Preliminary Financial Forecasts and Rate Changes for Electric, Gas, Wastewater Collection, and Water Utilities for Fiscal Year 2017.
NO ACTION TAKEN
ADJOURNMENT: The meeting was adjourned at 9:03 P.M.
ACTION MINUTES
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Finance Committee Action Minutes
March 1, 2016
FINANCE COMMITTEE
ACTION MINUTES
Page 1 of 3