06-12-19 Personnel and Finance - Laserfiche WebLink

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d U CH w aj PEACE ',,,,,,I0 86,4 OFFICE OF THE CITY CLERK KAREEMAH FOWLER, CITY CLERK PERSONNEL& FINANCE JUNE 12, 2019 5:00 P.M. Committee Members Present: Karen White, Regina Williams-Preston, John Voorde, Jo M. Broden (late) Committee Members Absent: None Other Council Present: Tim Scott, Sharon L. McBride Other Council Absent: Jake Teshka, Dr. Oliver Davis, Gavin Ferlic Others Present: Jennifer Coffman, David Moses Presenters: Daniel Parker, Amy Shirk Agenda: Overview of the City's Debt and Current Reserves—Daniel Parker, City Controller Committee Chair Karen White called to order the Personnel and Finance Committee meeting at 5:00 p.m. She introduced members of the Committee and stated, In way of a background in terms of the different educational series that we have had, as most of you are aware, in 2019 we had fourteen (14) budget hearings, and part of those budget hearings, a number of suggestions were made. One (1) is that we need to start the budget process earlier and look at certain information, so the educational budget series was in response to that particular request. The first (1st) budget series that we had was held in December where we focused on TIF and all that information is available on our website and the PowerPoints as well. The second (2nd) educational budget series was 2020,the Fiscal Curb, and we've been talking about up to that point,the fiscal cliff, so it's now the curb. The issue that we wanted to share was its impact. We know it's going to impact the City but also to look at how we have prepared for that, so preparing for 2020 is not something that has caught us off guard. We've had a number of discussions and that PowerPoint information is also on the website. Today we're going to be looking at the cash reserves and the debt position. There are a lot of discussions within the community as well as even among Council Members in regard to what do we have to deal with, and what are we looking at from a financial perspective as we prepare for the 2020 budget. And again, one (1) of the other suggestions was that we need to start with this first (1st), and then we'll move towards the 2020 budget hearings. She continued, I've made a number of changes in terms of the budget process, and I think it's going to be very helpful. Once I hear back from the Council Members, then we'll be able to share that process. But I think it's going to be one (1) that will really allow more in-depth discussion. We'll be focusing very quickly on the numbers, but also to give those department heads the opportunity INTEGRITY' SERVICE'ACCESSIBILITY JENNIFER M.COFFMAN BIANCA L.TIRADO JOSEPH R.MOLNAR CHIEF DEPUTY/DIRECTOR OF OPERATIONS DEPUTY/DIRECTOR OF POLICY ORDINANCE VIOLATION CLERK. EXCELLENCE I ACCOUNTABILITY I INNOVATION I INCLUSION I EMPOWERMENT 455 County-City Building 1227 W.Jefferson Blvd.I South Bend,Indiana 46601 1 p 574.235.92211f 574.235.9173 I www.southbendin,gov