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<br />MINUTES OF THE FINANCE COMMITTEE <br />MARCH 20, 2023 <br />AUDITORIUM <br />Present: Councilmembers Shachner (Chair), Bullock, & Kepple <br />Also Present: Councilmembers Rader, Baker, Marx, Law Director Vargo, Finance Director <br />Rancatore <br />Call to Order: 7:10 p.m. <br />Approval of the minutes of the February 13, 2023 meeting of the Finance Committee. <br />Motion was made and seconded to approve the minutes of the February 13, 2023 meeting of the <br />Finance Committee. All members voted in favor. Motion passed. Minutes approved. <br />ORDINANCE 04-2023 - 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 />st <br />authorizing the transfer and advance of certain funds. (1 read and referred to Finance <br />nd <br />2/21/23; 2 reading 3/6/23) <br />Director Rancatore introduced Ordinance 04-2023, explaining that it authorizes the routine <br />allocations scheduled in the 2023 budget. He stated that the movement of these funds is planned <br />and necessary to ensure that certain city funds remain cash positive. <br /> <br />Regarding the transfers out of the General Fund, Director Rancatore explained that the Division <br />of Aging historically receives a significant transfer from the General Fund to subsidize <br />operations. He noted that Winterhurst is currently operating at a deficit and also that significant <br />capital needs are anticipated at the facility over the next few years. <br /> <br />Director Rancatore explained that the various funds being transferred into the General Fund are <br />reimbursements from advances made in the fourth quarter of 2022. <br /> <br />Through discussion it was clarified that that revenue from the waste water treatment plant was <br />being transferred to Fund 511, from which debt service payments are made for improvements to <br />the WWTP facility. <br /> <br />Councilmember Bullock questioned the transfers into Winterhurst. He asked for more <br />information on whether the funds will subsidize operations and/or planned capital improvements. <br /> <br />Director Rancatore responded that the city has been transferring funds to Winterhurst for the past <br />two years. <br /> <br />Councilmember Bullock relayed resident feedback about the experience at Winterhurst and the <br />need for improvements in ice time and maintenance. <br />1 <br /> <br /> <br />