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Finance Committee Meeting Commission Chamber- 10/29/2012- 12:55 PM
FINANCE
1. Discussion of the Augusta Metro Chamber of Commerce
Building on Broad Street. (Requested by Mayor Copenhaver)
(Referred from October 16 Commission meeting)
Attachments
2. Approval of budget increase to include revenue and expenses
for the GA MPO Conference to be held on November 29-30,
2012.
Attachments
3. Motion to approve increasing the Disadvantaged Business
Enterprise Department expenditure level, funding source will be
provided by contributions from 5th Annual Business Expo
Platinum Sponsors.
Attachments
4. Motion to approve the minutes of the Finance Committee held
on September 24, 2012.
Attachments
5. Receive as information financial reports for the period
ended September 30, 2012.
Attachments
6. Discuss creation of Tax Allocation District 4 and creation loan
program to promote investment in the downtown area and to
support the merged university. (Requested by Commissioner
Jerry Brigham)
Attachments
7. Approve transfer of funds to cover Worker’s Compensation
claims through the end of 2012.
Attachments
Finance Committee Meeting
10/29/2012 12:55 PM
Augusta Metro Chamber of Commerce Building
Department:Clerk of Commission
Caption:Discussion of the Augusta Metro Chamber of Commerce Building
on Broad Street. (Requested by Mayor Copenhaver) (Referred
from October 16 Commission meeting)
Background:
Analysis:
Financial Impact:
Alternatives:
Recommendation:
Funds are Available
in the Following
Accounts:
REVIEWED AND APPROVED BY:
Cover Memo
Item # 1
Finance Committee Meeting
10/29/2012 12:55 PM
GA MPO Conference Special Event
Department:
Caption:Approval of budget increase to include revenue and expenses for
the GA MPO Conference to be held on November 29-30, 2012.
Background: The Augusta Regional Transportation Study is hosting the
Georgia Metropolitan Planning Organization on November 29-30,
2012. This request is to increase the Planning & Development
budget by $10,000.
Analysis:
Financial Impact:The MPO will be collecting registration fees and sponsor funds to
help defray the cost of hosting the conference. Any funds accepted
over and above the cost of the conference are to be sent to the next
MPO to help defray the costs of their conference.
Alternatives:Approve or Deny the Planning & Development Department’s
request to accept revenue and expenses for the Conference.
Recommendation:Approval
Funds are Available
in the Following
Accounts:
The funds will be collected from the conference registration fees
and sponsorships. Any expenses collected above revenues are
eligible for reimbursement through the GA Planning Grant. Any
revenues collected above expense are to be forwarded to the next
MPO to help defray expenses for the next MPO conference.
REVIEWED AND APPROVED BY:
Cover Memo
Item # 2
Finance Committee Meeting
10/29/2012 12:55 PM
Increasing Expenditure Level
Department:Disadvantaged Business Enterprise Department
Caption:Motion to approve increasing the Disadvantaged Business
Enterprise Department expenditure level, funding source will be
provided by contributions from 5th Annual Business Expo
Platinum Sponsors.
Background:The DBE Department will hosting the 5th Annual Business Expo
on November 14, 2012 at the Boathouse Center. This event is
designed to bring Augusta businesses and resources together
under one roof for an exciting day of education and networking.
The theme this year is "Opening the Door to Opportunity".
Research shows small businesses are the backbone of ARC's
economy. The EXPO has been designed to provide resources and
opportunities for entrepreneurs in every phase of a business
lifecycle: start-up, launch, growth and sustainability. The
department will provide lunch and educational informational
brochures to all attendees.
Analysis:The approval of this item will be a savings to the city due to using
funds being supplied by Platinum Sponsors.
Financial Impact:Increase department expenditure level to include estimated
$1,200.00 in contributions from Platinum Sponsors.
Alternatives:The department would use funds from 2012 budget wihch will
cause a decrease in those funds.
Recommendation:Approve increasing the DBE Department expenditure level,
funding source will be provided by contributions from the 5th
Annual Business Expo Platinum Sponsors.
Funds are Available
in the Following
Accounts:
101077110
Cover Memo
Item # 3
REVIEWED AND APPROVED BY:
Finance.
Law.
Administrator.
Clerk of Commission
Cover Memo
Item # 3
Finance Committee Meeting
10/29/2012 12:55 PM
Minutes
Department:Clerk of Commission
Caption:Motion to approve the minutes of the Finance Committee held on
September 24, 2012.
Background:
Analysis:
Financial Impact:
Alternatives:
Recommendation:
Funds are Available
in the Following
Accounts:
REVIEWED AND APPROVED BY:
Cover Memo
Item # 4
Attachment number 1 \nPage 1 of 2
Item # 4
Attachment number 1 \nPage 2 of 2
Item # 4
Finance Committee Meeting
10/29/2012 12:55 PM
Receive as information 3rd Quarter 2012 Financial Reports
Department:
Caption:Receive as information financial reports for the period
ended September 30, 2012.
Background:Periodic financial reports are presented to keep the commission
aware of the financial status of the orga
Analysis:
Financial Impact:
Alternatives:
Recommendation:Receive as information
Funds are Available
in the Following
Accounts:
REVIEWED AND APPROVED BY:
Finance.
Law.
Administrator.
Clerk of Commission
Cover Memo
Item # 5
Finance Committee Meeting
10/29/2012 12:55 PM
Tax Allocation District 4
Department:
Caption:Discuss creation of Tax Allocation District 4 and creation loan
program to promote investment in the downtown area and to
support the merged university. (Requested by Commissioner
Jerry Brigham)
Background:
Analysis:
Financial Impact:
Alternatives:
Recommendation:
Funds are Available
in the Following
Accounts:
REVIEWED AND APPROVED BY:
Cover Memo
Item # 6
Finance Committee Meeting
10/29/2012 12:55 PM
Workers' Compensation Fund 2012
Department:Finance/Risk Managment Division
Caption:Approve transfer of funds to cover Worker’s Compensation
claims through the end of 2012.
Background:Due to a number of serious injuries occurring in several
departments during the last 3 years (vehicle/motorcycle
accidents, altercations, fire scene injuries, fatality, etc.) we
have seen a substantial increase in medical treatment cost and
indemnification expenditures.
Analysis:Workers' Compensation is a State mandated program so all
associated cost must be paid within a specific time frame.
Financial Impact:Estimated amount of funding necessary to finish out 2012
calendar year is $355,700.
Alternatives:No alternatives; the payment of claims is mandated by state law.
Recommendation:Approve requested transfer of funds in order to pay Worker’s
Compensation claims for the remainder of 2012.
Funds are Available
in the Following
Accounts:
621 162,600 Fund Balance 101 38,600 273 81,100 274 73,400
REVIEWED AND APPROVED BY:
Finance.
Law.
Administrator.
Clerk of Commission
Cover Memo
Item # 7