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MINUTES OF THE FINANCE COMMITTEE <br /> MARCH 2, 2020 <br /> East Conference Room <br /> Present: Councilmembers Bullock, Litten & Neff <br /> Also Present: Councilmembers Rader & Shachner, Law Director Corrigan, Mayor George, <br /> Acting Finance Director Shuster <br /> Call to Order: 6:30 p.m. <br /> ORDINANCE 04-2020 -AN ORDINANCE to take effect immediately provided it <br /> receives the affirmative vote of at least two thirds of the members of Council, or <br /> otherwise to take effect and be in force at the earliest period allowed by law, <br /> authorizing the transfer and advance of certain funds. <br /> Acting Finance Director Shuster introduced Ordinance 04-2020, explaining that it represents the <br /> movement of monies in and out of the General Fund. Much of it has to do with timing. The <br /> General Fund will advance monies to certain funds such as CDBG and ESG at the end of the <br /> year so that they may end the year with a positive balance as required. Later, when those funds <br /> receive their monies, they will advance them back to the GF. <br /> He explained that the workers' compensation and hospitalization transfer to the GF represents <br /> the Court's contributions. This is done each quarter because of the special status of the Court. <br /> After additional details of the ordinance were discussed and reviewed with Acting Finance <br /> Director Shuster, a motion was made and seconded to recommend adoption of Ordinance 04- <br /> 2020 upon third reading. <br /> All members voted in favor. Motion passed. <br /> Review of 2020 revenues, expenses, and health care claims to date. <br /> Chairman Bullock explained that he is asking for a review of expenses and revenues to date and <br /> will do so regularly so that the Finance Committee has a micro-level understanding of the budget <br /> and be able to evaluate if there are needs this year that the budget has not provided for. <br /> Chairman Bullock relayed the Mayor's report that that three department directors have told her <br /> they do not have sufficient funds to operate in 2020. <br /> He pointed to the good practices and procedures in place by the Finance Department such as <br /> month-end reports which begin at the end of March. He also requested an overview of health <br /> care expenditures to-date. <br /> 1 <br />