ATTACHMENT I
COUNCIL BUDGET & FINANCE COMMITTEE MEETING
Meeting Minutes of February 16, 2022
Call to Order: 5:03 p.m.
Members Present: Mayor Barbara Halliday, Councilmember Sara Lamnin, Councilmember Aisha Wahab
Members Absent: None
Staff: Kelly McAdoo, Regina Youngblood, Dustin Claussen, Nicole Gonzales, Nicholas Mullins, Rick Rivera, Crissy Mello, Nick Tabari
Guests: None
Public Comments: None
1. Approval of Meeting Minutes from January 19, 2022
Action: A Motion was made by Councilmember Lamnin to approve the minutes of the January 19, 2022, Council and Budget Finance Committee meeting. Motion was seconded by Mayor Halliday and passed with unanimous approval.
2. FY 2022 Mid-Year Budget Review and General Fund Long Range Financial Model Update
Deputy Director Gonzales provided the Committee with the FY 2022 Mid-Year Budget Review and General Fund Long Range Financial Model Update presentation.
Deputy Director Gonzales provided an overview of proposed FY 2022 Mid-Year changes to revenue projections and expenditures for all City funds. The proposed FY 2022 Mid-Year changes in the General Fund will result in a reduction in the projected use of General Fund Reserves over what was projected at the time of Adoption. Bringing the projected use of General Fund Reserves from $6.1 million to $4.4 million.
Deputy Director Gonzales provided an update on the City’s General Fund Long Range Financial Model (Model), which included the appropriation of ARPA funding in FY 2022 and FY 2023.
Action: The Committee received the report and provided feedback.
ATTACHMENT I
3. Review and Approve of the FY 2022 Agenda Planning Calendar Director Claussen will present the Committee with an analysis of the viability of pension obligations bonds at the March 16, 2022, meeting. City Manager McAdoo proposed holding review of the Hayward Community Foundation operations until after organizational changes at the Foundation are settled, which is expected in Spring of 2022.
Action: The Committee provided feedback on future agenda items.
Committee Members/Staff Announcements:
Adjournment: The meeting was adjourned at 5:42 p.m.