HomeMy WebLinkAbout2016-04-05 Finance Committee Action Minutes
Special Meeting
April 5, 2016
Chairperson Filseth called the meeting to order at 6:03 P.M. in the Community Meeting Room, 250 Hamilton Avenue, Palo Alto, California.
Present: Filseth (Chair), Holman, Schmid, Wolbach
Absent:
Action Items
1. Recommendations on Proposed Fiscal Year 2017 Community Development Block Grant (CDBG) Funding Allocations and the Draft Fiscal Year 2017 Annual Action Plan.
MOTION: Council Member Schmid moved, seconded by Council Member Holman that the Finance Committee recommend the City Council take the following actions:
Allocate CDBG funding as recommended in the draft 2016/2017 Action Plan and as described in this report;
Authorize the City Manager to execute the 2016/2017 CDBG application and 2016/2017 Action Plan for CDBG funds, any other necessary documents concerning the application, and to otherwise
bind the City with respect to the applications and commitment of funds; and
Authorize staff to submit the 2016/2017 Action Plan to HUD by the May 15, 2016 deadline.
MOTION PASSED: 4-0
2. Staff Recommends the Finance Committee Review the Various Options to Address the Unfunded Pension Liability and Provide Direction on a Funding Plan.
MOTION: Chair Filseth moved, seconded by Council Member Wolbach that the Finance Committee direct Staff to begin the process of identifying a partner to establish a Section 115 Trust
with the $1.3 million from the Fiscal Year 2016 General Fund Budget as the initial payment.
INCORPORATED INTO THE MOTION WITH THE CONSENT OF THE MAKER AND SECONDER to direct Staff to explore additional contributions to the Section 115 Trust with contributions from other funds.
AMENDMENT: Council Member Schmid moved, seconded by Council Member xxx to anticipate having an additional budget item in the 2017 Budget as a contribution so the annual goal is looking
for an annual contribution.
AMENDMENT FAILED DUE TO THE LACK OF A SECOND
INCORPORATED INTO THE MOTION WITH THE CONSENT OF THE MAKER AND SECONDER to recommend Staff and Council consider any possible Fiscal Year 2017 contributions during the 2017 Budget process.
MOTION RESTATED: Chair Filseth moved, seconded by Council Member Wolbach that the Finance Committee direct Staff to begin the process of identifying a partner to establish a Section
115 Trust with the $1.3 million from the Fiscal Year 2016 General Fund Budget as the initial payment and direct Staff to explore additional contributions to the Section 115 Trust with
contributions from other Funds. Recommend Staff and Council consider any possible Fiscal Year 2017 contributions during the 2017 budget process. Also, direct Staff to return to Council
with the recommendation agendized as an Action Item on the City Council Agenda.
MOTION AS AMENDED PASSED: 4-0
3. Finance Committee Review of Pool Car Utilization and Plan to Reduce the Size of the City's Pool Car Fleet.
NO ACTION TAKEN
Future Meetings and Agendas
Adjournment: The meeting was adjourned at 9:17 P.M.
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Draft Action Minutes 04/05/2016
Finance Committee Meeting
Finance Committee
1
Action Minutes 04/05/2016
Finance Committee Meeting