HomeMy WebLinkAbout3-15-17 Meeting MinutesJEFFERSON COUNTY BUDGET COMMITTEE
March 15, 2017
MINUTES
First Floor Conference Room
Members:
Anne Sears
Barbara Carr
Carol Palmer
Cathy Taylor
David Stanko
David Sullivan
Erin Lundgren
Janet Holbrook
Jared Keefer
Jeff Chapman
Jill Landes
Jodi Adams
Joe Nole
Judy Shepherd
Kate Dean
Kathleen Kler
Keith Harper
Laura Lewis
Lauralee Keisel
Leanne Dotson
Lori Bailey
Lynn Sterbenz
Matt Tyler
Michael Haas
Monte Reinders
Patty Charnas
Philip Morley
Renee Talley
Rose Ann Carroll
Ruth Gordon
Sarah Martin
Sharon Mitchel
Sophie Nordstrom
Stacie Prada
Su Tipton
Susan Parke
Tammey Newton
Tanda McMillin
Tracie Bick
Veronica Shaw
Vicki Kirkpatrick
Order of Business
Call meeting to order at 8:34am Rose Ann
Request for additional agenda items/approve agenda Rose Ann
Add: 1. Rose Ann – Appropriations Reminder
2. Kathleen – Explanation of Reserve Funds and how they are set
Call for approval of the February 15, 2017 minutes Rose Ann
1st Kathleen Kler
2nd Kate Dean
All Approved
Reports
Expenditure Reports Rose Ann
Budgets that are over the percentage, 8.33%, will level out.
Coroner’s Fund paid 2016 Autopsy bills in 2017.
Fund 505: Leave payouts for December through February are posted
early in the year to reimburse funds. Fund 505 reimburses throughout the
year.
Revenue Reports Stacie Prada
General Fund at $1,696,399 – 9.4% of the 2017 annual budget which is in
line with previous years.
Other Funds at $4,357,117 – 13.9% of 2017 budget which is also in line with
previous years.
General Fund Cash Balance - $3,622,756 which includes the $2.46 million
budgeted and required reserve. This is in line with our typical pattern over
the last nine years.
General Sales Tax Receipts - $403,971 which includes $93,242 for Special
Purpose in February 2017 which is almost 9.2% higher for sales tax and
8.4% over for Special Purpose. Cumulatively, sales tax revenues were 9%
over projections for the month.
REET Receipts - $47,854 in February and 21% over budget for the month.
Five
single family residences sold for more than $500,000 Three in Port Ludlow
ranged from $580,000 to $850,000. One view residence in Brinnon sold for
$555,000 and the highest priced residence to sell last month was in Nordland
for $999,900. We had roughly the same number of transactions as February
2016, but REET receipts were 6% lower than last year. One notable sale in
the City where REET revenue goes to the City and not the county was
Seaport Landing that sold for $23.4 million.
Hotel/Motel Lodging Tax - $53,093 in February which is 3% over this month
last year and 17.4% over budget. It’s also the highest receipts we’ve had in
February in the last nine years.
Philip/Anne: Revenue Stabilization is up to $600,000; when tax revenue added, to
$700,000. In April, Philip will discuss Reserve Funds Resolutions and Revenue
Stabilization.
Rose Ann: Reminder: 1st Quarter Appropriations are due to the BOCC by 3/20/17.
Kathleen requested a general overview of reserves in funds and how they are set.
Philip responded:
Reserves are set by resolution.
Most funds are recommended to have 10% for cash flow purchases.
The goal of the reserve is that it can be used during the year, however, it is
restored to the original amount by year end.
Example: Fund 148 OLYCAP spends 90% of revenue in. They are also
responsible to allocate 10% to other non-profits.
Stacie added: Funds in reserve can be an indicator of health of the county.
Rose Ann added: Certain funds have specific requirements that cause balances to be
reserved only for those purposes.
Motion to Adjourn Rose Ann
1st Kathleen
2nd Jodi
All in favor.
Next meetings are Apr 19, May 17, and June 21, 2017.
Meetings are scheduled for the third Wednesday of each month except December of each year.