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HomeMy WebLinkAbout2016-10-18 Finance Committee Action Minutes FINANCE COMMITTEE ACTION MINUTES Page 1 of 2 Finance Committee Action Minutes October 18, 2016 Special Meeting Tuesday, October 18, 2016 Chairperson Filseth called the meeting to order at 7:00 P.M. in the Community Meeting Room, 250 Hamilton Avenue, Palo Alto, California. Present: Filseth (Chair), Schmid, Wolbach Absent: Holman Oral Communications None. Action Items 1. Approval of Fiscal Year 2016 Reappropriation Requests to be Carried Forward Into Fiscal Year 2017 and Approve Corresponding Budget Amendments in Various Funds. MOTION: Council Member Wolbach moved, seconded by Chair Filseth to recommend the City Council amend the Fiscal Year 2017 Budget Appropriation Ordinance for various funds and capital projects as recommended by Staff, as well as the recommendations outlined in the two at place memos. MOTION PASSED: 3-0 Holman absent The Committee took a break from 8:04 P.M. to 8:08 P.M. 2. Utilities Advisory Commission Recommendation That Council Adopt a Resolution Approving a Carbon Neutral Natural Gas Portfolio Plan to Achieve Maximum Carbon Neutrality Using a Combination of Offsets and Biogas in the Gas Supply Portfolio by Fiscal Year 2018 With No Greater Than 10¢/Therm Rate Impact; and Related Termination of the Palo Alto Green Gas Program. DRAFT ACTION MINUTES Page 2 of 2 Finance Committee Action Minutes October 18, 2016 MOTION: Council Member Wolbach moved, seconded by Chair Filseth to recommend the City Council: A. Adopt a Resolution that: i. Approves the Carbon Neutral Gas Plan, enabling the City to achieve a carbon-neutral gas supply portfolio starting in Fiscal Year (FY) 2018 with a rate impact not to exceed ten cents per therm (10 ¢/therm); and ii. Terminates the PaloAltoGreen Gas program established by Resolution 9405; and B. Direct Staff to develop an implementation plan for the Carbon Neutral Gas Plan; and C. Direct Staff to provide an option for Council to consider prioritizing local offsets; and D. Direct Staff to prioritize maximizing carbon reduction within the 10 cents per therm (10 ¢/therm) rate impact cap. AMENDMENT: Council Member Schmid moved, seconded by Council Member XX to add to Motion Part C “such as infrastructure and conversion technology.” AMENDMENT FAILED DUE TO THE LACK OF A SECOND MOTION PASSED: 2-1 Schmid no, Holman absent Future Meetings and Agendas Lalo Perez, Chief Financial Officer, reviewed the upcoming meeting schedule. He said the November 1st meeting has been cancelled, with the next Committee meeting being November 15th. He summarized the proposed items for the November 15th meeting. Chair Filseth asked and Mr. Perez spoke about the three year forecast he is planning to bring to the Committee later in the year. Adjournment: The meeting was adjourned at 9:27 P.M.