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MINUTES OF THE FINANCE COMMITTEE <br /> June 21, 2021 <br /> Auditorium <br /> Present: Councilmembers Bullock, Litten, &Neff <br /> Also Present: Councilmember Rader, Mayor George, Director Leininger, Director Rancatore, <br /> Chief of Staff Storey, Director Corrigan, Assistant Finance Director Schuster, & Deputy Clerk <br /> Lascu taking minutes <br /> Start time: 6:07 p.m. <br /> AGENDA <br /> Approval of the minutes of the Finance Committee held May 17, 2021. <br /> Chairman Bullock made a motion, seconded by Councilmember Litten to approve the minutes. <br /> All in favor. Motion passed. <br /> ORDINANCE 17-2021 -AN ORDINANCE to take effect immediately provided it receives <br /> the affirmative vote of at least two thirds of the members of Council, or otherwise to take <br /> effect and be in force at the earliest period allowed by law, authorizing the transfer and <br /> advance of certain funds. (1st read& referred to Finance 5/17/21; 2"d reading 6/7/21) <br /> Director Rancatore gave an overview of the ordinance, noting that it is a standard transfer that <br /> represents 25% of fund transfers for the year. It shows a schedule of budgeted items, reflects the <br /> city's subsidy to the Aging fund, includes quarterly contributions to the hospitalization/workers <br /> compensation funds for the municipal court, and details debt service payments to the wastewater <br /> treatment plant infrastructure. <br /> The committee asked brief questions about the nature/timing of the transfer payments. It was <br /> noted that these payments come from the city's general fund. <br /> Chairman Bullock made a motion, seconded by Councilmember Litten to recommend Ordinance <br /> 17-2021 for adoption. All in favor. Motion passed. <br /> Communication from President O'Malley, Vice President Litten and Councilmember <br /> Bullock regarding Use of American Rescue Plan funds by the City of Lakewood. (Referred <br /> to Finance 4/5/21) <br /> Council Budget Priorities Process for 2022 budget <br /> Chairman Bullock gave an overview of the discussion, noting that the use of American Rescue <br /> Plan funds talks and the Council Budget Priorities process for the following year are intertwined. <br />