08-16-17 Personnel and Finance (Overview)

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W' PEACE, Ia 1865 OFFICE OF THE CITY CLERK KAREEMAH FOWLER,CITY CLERK PERSONNEL &FINANCE AUGUST 16, 2017 5:00 P.M. Committee Members Present: Karen White, Regina Williams-Preston, John Voorde Committee Members Absent: Gavin Ferlic Other Council Present: Dr. David Varner, Tim Scott, Oliver Davis, Jo M. Broden Other Council Absent: Randy Kelly Others Present: Kareemah Fowler, Bob Palmer, Graham Sparks Presenters: Mayor Pete Buttigieg Agenda: Budget Overview Committee Chair Karen White called to order the Personnel and Finance Committee meeting at 5:00 p.m. She immediately recessed the committee to reconvene in the full Council Chambers, in order for all members of the public to have a place to comfortably sit and attend the budget hearing. The committee reconvened in the full Chambers at 5:02 p.m. She introduced members of the Committee and proceeded to give the floor to the presenters. Budizet Overview Mayor Pete Buttigieg,with offices on the 14th floor of the County-City Building, stated, I would first like to thank the Council for all their work in this process. Overall, the City is in a good fiscal position. We are on a roll and we want to keep it that way. Our economy and population are both growing. We have a sense of civic pride that, I think, all of us can feel. From a fiscal standpoint, we continue to have very healthy financial reserves compared to our peers in this region as well as other parts of the State. On the economic front, our unemployment rate is now at three point one percent(3.1%). This is the first time that I can find, in modern times, when the South Bend unemployment rate has fallen below the United States unemployment rate. So we are pleased not just with the level, but the fact we are doing better. There are a lot of other numbers behind that number as we are still concerned about income. We know not all jobs are equal. We are also concerned with labor force participation. By this measure,though, it brings a lot of good news. As we have been discussing for some years now, there is not quite a fiscal cliff, rather, there is a fiscal curb coming in 2020. As a City, we continue to work to position ourselves so that we do not trip over it. There are tax caps that go into effect and by the time we get to that 455 County-City Building•227 W.Jefferson Boulevard•South Bend,Indiana 46601 Phone 574-235-9221 •Fax 574-235-9173•TDD 574-235-5567•www.SouthBendfN.gov JENNIFER M.COFFMAN ALKEYNA M.ALDRIDGE JOSEPH MOLNAR CHIEF DEPUTY/DIRECTOR OF DEPUTY/DIRECTOR OF POLICY ORDINANCE VIOLATION CLERK OPERATIONS