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HomeMy WebLinkAbout02-08-2021 BAC MinutesCITIZENS BUDGET REVIEW ADVISORY COMMITTEE MINUTES OF REGULAR MEETING FEBRUARY 8, 2021 Chairman Napier called the Citizens Budget Review Advisory Committee meeting to order at 6:00 p.m. Pledae of Alleaiance was recited by all. Roll Call Present: Mr. Napier Mr. Hoffman Mr. Hall Mr. Herlihy Mr. Wilson Absent: Mr. Sullivan (a) — Unexcused absence Ms. Cerda (al -large member) Mr. McGinn (at -large member) Mr. Newhart (a) Also Present: Paul Carlisle, City Manager Ken Killgore, Administrative Services Director/CFO Barbara Brooke -Reese, MIS Manager Janet Graham, Technical Writer (via Zoom) IV. Selection of Chaimerson Mr. Hoffman nominated Mr. Napier as Chairperson. There being no further nominations, Mr. Napier was approved as Chairperson by unanimous voice vote. V. Selection of Vice -Chairperson Mr. Hoffman nominated Mr. Herlihy as Vice -Chairperson. Mr. Napier seconded the nomination. Mr. Herlihy was approved as Vice -Chairperson by unanimous voice vote. VI. Aooroval of Minutes: Meetinc of August 31.2020 Mr. Napier asked if all Committee members had reviewed the Minutes of August 31, 2020. All Indicated they had. He called for a motion. A motion to accept the Minutes as presented was made by Mr. Herlihy, seconded by Ms. Cerda, and approved unanimously via voice vote. VII. Review of Fourth Ouarterly Reoort — FY 2019-2020 Mr. Killgore explained to the new Committee members the procedure he follows when CITIZENS BUDGET REVIEW ADVISORY COMMITTEE PAGE 2 MINUTES OF FEBRUARY 8, 2020 MEETING preparing these reports and presenting them to City Council. He gave a PowerPoint presentation and explained the various reports (SEE ATTACHED). He explained the Agenda Transmittal Form, which also included Resolution No. R-21-02. The Summary of Budget Changes covered all the adjustments that have been made to the budget during the three months from July to September 2020. They are broken down into categories, and it showed the ones that were previously approved by City Council during their normal business meetings and the ones that are being submitted for approval after the fact. General Fund Revenues were then reviewed. The year ended with an annual amount of revenues that were collected at 94.4%. That is lower than the City's normal collection rate due to some unexpected events that happened during the year such as the state revenue sharing due to the COVID pandemic. Expenditures were 95.2%, just slightly lower than normal relating to departmental expenses. The end result was, and what we have now as a draft of the City's audited financial statements, $5,703,000.00 in reserves. Those are the amounts that are not committed at that point in the year. He next explained what has happened to the reserves since the beginning of the year. We started off with a fund balance of $5.9 million plus the $275,000.00 R&R account. An ending amount of reserves totals $5,419,259.00. After deducting the assigned funds of $283,742.00, there is a total of $5,144,259.00 in unassigned reserves plus the $275,000.00 in the R&R account for a total of $5,419,259.00, which is higher than what was projected. Regarding the status of the hurricane reimbursements, the City still has due from Hurricane Matthew $143,000.00. From time to time Mr. Killgore will get correspondence requesting additional information, but there has not been any movement on this. The Stormwater Fund, the Golf Fund, the Airport Fund, and the Building Fund were all reviewed. The Fund Summaries and the General Fund Department reports were covered. He then reviewed the Capital Project Status Report as of September 30, 2020. There are several projects that are still underway. The Quarterly Investment Report sets forth where the City's money is, the local bank account, the State Board of Administration investment funds, and another investment fund that is approved for cities to invest in called Florida Trust. There is a summary of some interfund loans that are being carried and what terms there are and haw much has been instructed to be outstanding at the end of the fiscal year. The balance of the report is information that each department submits to his office to compile a summary of their activities during the quarter. Mr. Killgore then called for any questions/comments from the Board members. Mr. Hall asked, taking into the account the first quarter of this fiscal year, what is the current general fund balance. Mr. Killgore explained that at the end of the last fiscal CITIZENS BUDGET REVIEW ADVISORY COMMITTEE PAGE 3 MINUTES OF FEBRUARY 8, 2020 MEETING year, September 301h, it is about $5.4 million. He does not have the first quarter report for this year yet. Mr. Herlihy asked Mr. Killgore if there is any prospect at all on the FEMA recovery of $143,000.00. Mr. Killgore stated he last heard from FEMA approximately three weeks ago. He got a report that their project manager for our account has left, and they will be looking at it. He sent a message back to them explaining that we have been waiting a long time for this, so anything they can do, to please help us. They have five years to come back to the City and question what was submitted. He is hoping that at some point someone will review it and say that this thing has been outstanding long enough, and they will finally send the money. He further explained that this figure is not recorded as a receivable. It is not like we have this amount as part of our fund balance. When those monies do come in, it would be additional revenue. Mr. Herlihy stated that when he reviewed each individual department, he saw that the overall percentage was 5% below budget. He was absolutely amazed. given all the problems that everyone has had this year, that is a fantastic job on everyone's part as far as staff, management, and everyone by coming in under 5% below budget. Mr. Hoffman addressed the hurricane reimbursements. He asked the status on the funds. Did we have to send the money back yet, or is it still sitting in the unallocated reserves — the overpayment that they sent us? Mr. Killgore stated that is correct. There is about $140,000,00 that the City hopes they will reimburse us for, but there are two separate issues. Mr. Hoffman asked regarding the General Fund Balance Forecast it shows $12,470,844.00. He asked how that is tied back to the expenditures year -to -dale number, $12,887,000.00. Mr. Killgore stated it would be the $177,000.00 that was spent on R&R and the $283,000.00. Mr. Hoffman said he would doublecheck that. He further stated he would second Mr. Hedihy's comments that the City did a really good job of trying to control expenses. Mr. Napier staled he thought it was a very good report. He asked Mr. Killgore if he would send an email to the manager at FEMA and tell them that, since they overpaid that $90,000.00, credit it against the $143,000.00, and send us the $50.000.00. Mr. Killgore stated that he gets a notice that there is a new manager before anything gets done. Hearing no further comments/questions from Board members, Mr. Napier moved to the next item on the agenda. Vill. Review Budoet Calendar and Discuss Next Meetina Date (Mav 17. 20211 Mr. Napier asked if anyone had an issue with the proposed calendar. Mr. Killgore commented that his intent when he put the budget calendar together, that tonight we would be reviewing both the fourth quarter of 2020 and the quarter through December 31, 2020. Time restraints did not allow him to get to that report. He proposed preparing the report at this point and hopefully getting it to the Budget Committee via email, and they CITIZENS BUDGET REVIEW ADVISORY COMMITTEE PAGE 4 MINUTES OF FEBRUARY 8, 2020 MEETING could then respond to him individually before he takes it to City Council, which he thinks he is scheduled for the meeting on the 24th to present the first quarter to them. Otherwise, there would need to be a special meeting, and he is not sure when he could get a special meeting in, as this room is pretty much occupied for the remainder of the month and early March. Mr. Napier said he would hate to wait till that May 17th meeting to review the first quarter because, by then the second quarter is going to be past due. He asked if there could be a special meeting scheduled for some time in March. Mr. Killgore stated he would try to do that. That would delay him presenting the report to Council on the 24th, but he will see if that can be accomplished. Mr. Napier asked if Mr. Killgore could email the Committee members a copy of the agenda packet that goes to Council. Then they could look at it at the May meeting. Mr. Killgore stated he would be happy to do that. It was the consensus of the Committee that the calendar should be left as it is. IX. General Discussion by Members Mr. Hoffman asked what the status is on the state's revenue sharing. Mr. Killgore stated that, although he has not done the first quarter report and does not have the document to show right now, he has been looking at the revenue collections. There was the drop in the state's revenue sharing at the end of last year where they cut us back severely. They went from approximately $60,000.00 a month to something like $20,000.00 a month. That only lasted for a couple of months, and then they started reinstating, particularly the October/November/December collections are much improved. They still are not at the levels we had. The state revenue sharing is from a trust fund that the state establishes and puts a portion of the state's sales tax monies in that fund to pass on to the municipalities. Of course, the business tax and sales tax receipts have had a negative impact on that fund. It looks like it is recovering, but not to the levels yet that we have been accustomed to in prior years. He stated that the City is about where it should be to meet budget because the figures in the budget were reduced. Mr. McGinn stated that he feels privileged to be on this Committee. Mr. Carlisle stated he appreciates everything this Committee does in its oversight of the budget. He also thanked Mr. Killgore and his staff for keeping the budget in order. X. Public Comment -- None XI. Adiourn There being no further business, Mr. Napier adjourned the meeting at 6:32 p.m. /J Bvr Date: S-AIA/ `� hC airihan Larry Napier jg