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MINUTES OF THE FINANCE COMMITTEE October 4, 2021 AUDITORIUM Present: Councilmembers Bullock, Litten & Neff Also: Councilmembers Kepple, O'Malley, Rader & Shachner, Mayor George, Finance Director Rancatore, Assistant Finance Directors Eddy, Human Resources Director Dillinger, Director Corrigan, Clerk Bach, Deputy Clerk Lascu taking minutes Call to Order: 6:58 p.m. Approval of the minutes of the Finance Committee held September 27, 2021. Chairman Bullock made a motion, seconded by Councilmember Litten to approve the minutes. All members voted in favor. Motion passed. The minutes were approved. RESOLUTION 2021-40 -A Resolution to take effect immediately provided it receives the affirmative vote of at least two thirds of the members of Council, or otherwise to take effect and be in force after the earliest period allowed by law to formally identify agreed-upon priorities that Council would like to see reflected in the 2022 budget. Chairman Bullock gave an overview of the resolution, noting that it was the committee's job to amend the resolution to include an attachment of the Council's agreed upon budget priorities. He added that the committee had heard from all members about their respective proposals, besides Councilmember Rader's participatory budgeting one. Councilmember Rader described the participatory budgeting movement and its relation to the passage of ARPA funding. In discussing the proposal with the administration, it was suggested that participatory budgeting be funded using general fund dollars, due to the limitations of ARPA. He stated that all wards in New York City use this process and that$400 million nationwide have been allocated using this form of allocation. His proposal calls for a$300,000 allotment and to enlist the help of a firm, at the cost of 10%, to administer the program and get folks participating in the process, with oversight from City Council. Lastly, he advocated that people need this form of direct democracy and could help speed up the timeline of projects. Clerk Bach stated that 2 eComments were made in support of Councilmember Kepple's small business digital development proposal. They were made by business owners of Fear's Confections and Geiger's. Chairman Bullock reviewed the budget process, noting that none of the proposals were truly final until the Board of Control awards a contract or offers an RFP for it. In various instances in the past, allocated dollars for projects has not been spent or the amount has changed.