HomeMy WebLinkAboutMinutes - Minutes - City Council - Meeting Date: 4/21/1987MINUTES OF THE WORKSHOP SESSION OF THECITYCOUNCILOFTHECITYOFGLENDALE, MARICOPA COUNTY, ARIZONA HELD TUESDAY, APRIL 21, 1987, AT 2:30 P.M. Mayor Renner called to order the Workshop Session of GlendaleCityCouncilinConferenceRoomB-3 of the Council Chambers. Council members present were: Huffman, Heatwole, Tolby, Falbo and Hugh. Members Absent: Bellah. FINANCIAL ADMINISTRATIVE POLICIESOnMarch19, the Council Budget and Finance Committeereviewedasetoffinancialpoliciesthathadbeendrafted bytheManagementResourcesGroup. These policies largelyreflectthingsthatthecityisalreadydoing, but they areformallystated. They are intended to not only provideguidancetostaff, but also to make a clear statement to our
citizens and those investing in the community that this city
is committed to sound financial management.
The Budget and Finance Committee recommended some changes,
and these are incorporated in the attached draft policy. In
order to keep these policies current with professional
budgeting and financial standards, the Committee also
recommended that the policies be reviewed by the full Council
in workshop session, rather than formally adopted by
resolution. The financial policies will be included in our
budget document; any future revisions will be reviewed by the
Budget & Finance Committee and City Council.
Vice Mayor Heatwole, Chairman of the Budget and Finance
Committee made comments.
Council agreed these should be administrative policies and
should not be adopted by resolution.
BOND REFUNDING PROPOSALS
On Thursday, April 16, 1987, the Budget and Finance Committee
reviewed the refunding recommendations with Finance
Department and Shearson Lehman Brothers representatives.
Based upon their review and recommendation we are bringing
this to Council for its review. Proposals received were
evaluated based on both economic and non -economic factors
such refunding experience of staff and the firm in the recent
past, compatibility with the City's financial team, marketing
share and marketing capabilities, present value savings
generated, etc. Based on these and other criteria it is the
recommendation of the City's Financial Advisor, Shearson
Lehman Brothers that Rauscher Pierce Refsnes, Inc., be
selected to refund certain maturities of the Street and
Highway User Bonds, and the General Obligation Bonds. In
addition, Smith Varney, Harris Upham & Company, Inc., has
been recommended to perform the Municipal PropertyCorporationRefundingforselectedbondmaturities. TheserefundingswouldonlybepursuedifthemarketconditionsremainfavorableandcanprovideanumberofbenefitstotheCity. The proposed refunding has also been discussed withthechairmanoftheMunicipalPropertyCorporationboardinrelationtotheproposedMunicipalPropertyCorporationrefundingissue. Terry Sharp, Resources Management Deputy City Manager, gave abriefpresentation. At this time the market is not right fortherefunding, would like to hold until the market is good. Mayor Renner asked if they were looking for a particularpoint. Mr. Sharp said the floor has to be at least 3% present value savings. Mayor Renner asked where the market was today. Mr. Sharp
said just under 3%.
Mayor Renner what the time difference is from negotiation of
sale until council action. Mr. Sharp said two to three weeks
for all preparations to be complete.
Councilman Tolby asked what the consultants advise is. Mr.
Lynch said they are of the opinion this is a temporary lull
in the market.
This item will be placed on a regular agenda for council
action.
SOCIAL SERVICES STUDY
The Social Services Study was prepared on existing social
service needs and delivery in Glendale. This information is
to be used to determine whether or not the City will continue
funding local social service agencies despite the elimination
of Revenue Sharing Dollars. Further, the information could
be used to determine the process if such allocations are made
and will be the basis for development of comprehensive social
service philosophy and policy statements for the City.
Glendale has supported social service programs in our annual
budget plus special allocations of federal funds for a number
of years. We are recommending continuing on which social
service allocation programs, however, we are recommending
changes in the allocation method and what the priorities
should be for social service funding this year. We are also
recommending a stronger coordinating effort between social
service agencies, churches, United Way and other community
groups.
Rita Koppinger, Human Services Director, gave a brief
overview of the report.
Vice Mayor Heatwole asked how much money Glendale contributestoUnitedWay. Ms. Koppinger stated she did not know butwouldgettheinformationforhim. Vice Mayor Heatwole asked if social agencies did not come toGlendalebecausethereisnoneedhere. Ms. Koppinger statedtheCityisgrowingsoquicklythattheagenciescannotkeepupwiththegrowth. Councilman Tolby complimented the report and asked if staffwouldbemakingtherecommendationsforfundinglocalsocialserviceagencies. Ms. Koppinger stated staff would makerecommendationstothecouncilbutgettheirinformation fromtheCommunityCouncil, agencies and citizens. Councilman Tolby asked how the process would work. Ms. Koppinger stated they are suggesting setting priorities andmakecertainapercentageofthefundsarechanneledtothe
priorities.
Councilman Falbo ask how much staff time went into this
report. Ms. Koppinger stated 2 weeks.
Councilman Falbo asked why city staff would be handling this
instead of another agency. Ms. Koppinger stated they had
handled in the past and when it was turned over to the
Community Council staff did all research work.
Councilman Tolby suggested having a staff person who can
coordinate and keep track of the funds.
This item will come back to workshop with recommendations.
INTERGOVERNMENTAL REPORT
Marion Porch briefed the council on legislative issues.
ADJOURNMENT
There being no further business the meeting adjourned at 4:10
p.m.
Deputy City Clerk