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Home My WebLink About2017-09-12 Meeting Minutes Finance Committee Meeting Commission Chamber - 9/12/2017 ATTENDANCE: Present: Hons. Sias, Vice Chairman; Hasan and Guilfoyle, members. Absent: Hons. Hardie Davis, Jr., Mayor; Frantom, Chairman. FINANCE 1.Motion to approve a cap of all General Fund payments to non-profit organizations at $25K with the exception of the three agencies listed below. A cap of $25K for all General Fund requests and consider an accounting review process that is not detrimental to the smaller non-profits The following non- profits would be considered exempt up to the amount designated: The ARC Museum of History $125K The Lucy Craft Laney Museum $125K The Arts Council Operations $ 70K (Requested by Commissioner Sammie Sias) Item Action: Approved Motions Motion Type Motion Text Made By Seconded By Motion Result Approve Motion to approve the allocations as listed with the Arts Council Operations at $143,420K. Motion Passes 3-0. Commissioner Ben Hasan Commissioner Sammie Sias Passes 2. Motion to approve the minutes of the Finance Committee held on August 29, 2017. Item Action: Approved Motions Motion Type Motion Text Made By Seconded By Motion Result Motion to www.augustaga.gov Approve approve. Motion Passes 3-0. Commissioner Ben Hasan Commissioner Wayne Guilfoyle Passes 3. Discuss/receive information from the Administrator and Chief Tax Appraiser regarding the tax savings schedule used by the Richmond County Development Authority. (Requested by Commissioner Ben Hasan) Item Action: Approved Motions Motion Type Motion Text Made By Seconded By Motion Result Delete Motion to delete this item from the agenda. Motion Passes 3-0. Commissioner Wayne Guilfoyle Commissioner Ben Hasan Passes Finance Committee Meeting 9/12/2017 1:20 PM Attendance 9/12/17 Department: Presenter: Caption: Background: Analysis: Financial Impact: Alternatives: Recommendation: Funds are Available in the Following Accounts: REVIEWED AND APPROVED BY: Lena Bonner From: Sent: To: Cc: Subject: Ms Bonner, Please add this to the Agenda ltem: Commissioner Sammie Sias Wednesday, September 06,20L7 3:01 PM Lena Bonner Janice Allen Jackson Non Profits - General Fund Finance Committee Agenda for L2 Sep 2017. Move to cap allGeneral Fund payments to non-profit organizations at S25K with the exception of the three agencies listed below. A cap of S25K for all General Fund requests Consider an accounting review process that is not detrimental the smaller non profits The followings non profits would be considered exempt up to the amount designated. o The ARC Museum of History SfZSf The Lucy Craft Laney Museum SfZSf The Arts Council Operations S70K We must find opportunities to reduce discretionary spending. I consider this a first step with additional options to follow. Sammie L. Sias Commissioner, Augusta Richmond County "Foilure is nat on Option" Please consider the environment before printing this email. a resLrlt of thc e-mail transntissir:n. l{veriflcation is requirerj. pl€ase request a harci Dopy version. AF-ti:1$4.1 a a a a o o o Finance Committee Meeting 9/12/2017 1:20 PM General Fund Non-Profit Allocations Department: Presenter:Commissioner Sammie Sias Caption:Motion to approve a cap of all General Fund payments to non- profit organizations at $25K with the exception of the three agencies listed below. A cap of $25K for all General Fund requests and consider an accounting review process that is not detrimental to the smaller non-profits The following non-profits would be considered exempt up to the amount designated: The ARC Museum of History $125K The Lucy Craft Laney Museum $125K The Arts Council Operations $ 70K (Requested by Commissioner Sammie Sias) Background: Analysis:We must find opportunities to reduce discretionary spending and I consider this a first step with additional options to follow. Financial Impact: Alternatives: Recommendation: Funds are Available in the Following Accounts: REVIEWED AND APPROVED BY: Finance Committee Meeting Commission Chamber - 812912017 ATTENDANCE: Present: Hons. Frantom, Chairman; Sias, Vice Chairman; Hasan, member. Absent: Hons. Hardie Davis, Jr., Mayor; Guilfoyle, member. FINANCE 1. Approve funding request from the Greater Augusta Arts Council in the amount ltem of $35,000 to support the 2017 Arts in the Heart of Augusta Festival. Action: Approved Motions f#:"' Motion Text Made By seconded By Motion to approve. Motion Passes 3-0. 2. Motion to accept the award of an additional $4,000 grant from the Georgia Item Department of Natural Resources (DNR) for the Meadow Garden Rehabilitation Action: Project and amend the budget resolution for the project. Approved fi;mmissioner Ben passes Motion Result Motion Result Approve Approve Commissioner Sammie Sias Motions Motion Motionrype Text Made By Seconded By Motion to approve. Motion Passes 3-0. Commissioner Ben CommissionerHasan Sammie Sias Passes 3. Motion to approve a Memorandum of Understanding between Augusta and the Item Downtown Development Authority of Augusta, Georgia ("DDA") regarding the Action: use of SPLOST funds for the renovation and rehabilitation of the Miller Theater. None Motions Motion Motion Text Made Seconded Motion Type rvrvarv'rvaa By By Result It was the consensus of the committee that this item be deleted from the agenda. 4. Motion to approve the minutes of the Finance Committee held on August 8, Item 2017. Action: Approved Motions Motion Motion;----- Motion Text Made By Seconded By Resultrype Motion to a , ,. , approve. Commissioner Ben CommissionerApprove ilotion passes Hasan Sammie Sias Passes 3-0. 5. Consider the following changes for no profit organizations that request funds Item from the General Fund: 1. A cap of $25K for all General Fund requests. 2. Action: Consider an accounting review process that is not detrimental to the smaller Rescheduled non profits. The following non profits would be considered exempt up to the amount of $120K: The ARC Museum of History, The Lucy Craft Laney Museum, and The Arts Council. We must find opportunities to reduce discretionary spending. I consider this a first step with additional options to follow. (Requested by Commissioner Sammie Sias) Motions X:j*l" Motion Text Made By seconded By Motion'f'ype ----- -r -------- -J Result Motion to refer this item to the fullDefer commission with no commissioner commissioner recommendation. Sammie Sias Ben Hasan Passes Motion Passes 3-0. 6. Approve Water and Sewer Revenue Bonds, Series 2017 bond resolution and Item authorize the Mayor and Clerk to sign all necessary documents to refund the Action: Augusta, Georgia Water and Sewer Revenue Bonds, Series 2007, currently Approved outstanding in the aggregate principal amount of $123,755,000. Motions Motion h ^ r rn Motion;"-'"" Motion Text Made By Seconded By Resultr ype Motion to ^ alprove. Commissioner Ben CommissionerApprove ilotion passes Hasan Sammie Sias Passes 3-0. 7. Discuss having a budget workshop in September to discuss the 2018 budget Item needs. (Requested by Commissioner Frantom) Action: Approved Motions f#:"' Motion rext Made By seconded By #Ji,Il Motion to approve a , holding the Commissioner CommissionerApprove *o.tst op. sammie Sias Ben Hasan Passes Motion Passes 3-0. www.augustaga.gov Finance Committee Meeting 9/12/2017 1:20 PM Minutes Department:Clerk of Commission Presenter: Caption:Motion to approve the minutes of the Finance Committee held on August 29, 2017. Background: Analysis: Financial Impact: Alternatives: Recommendation: Funds are Available in the Following Accounts: REVIEWED AND APPROVED BY: Lena Bonner ^From: Sent: To: Subject: Attachments: Hi Ms. Bonner: Walter Sprouse < wsprouse@augustaeda.org > Tuesday, August 29,2017 11:57 AM Lena Bonner Leaseback Factor Rates from County Assessor's Office Lease Factor Rates from County Assessor's Oflice 08202015.x|s At this morning's meeting, the commissioners in attendance requested a copy of the tax savings schedule that is used by the Development Authority. This list comes from the assessor's office, and is used depending on the amortization schedule of the lndustrial Revenue Bonds, usually 20-years. Please let me know if I can provide additional information. Best wishes, Walt Walter C. Sprouse, Jr., CEcD, FM, HLM Executive Director Augusta Economic Development Authority Historic Enterprise Mill ^6uite 560, 1450 Greene Street Augusta, GA 30901 706-827-7321, extension 1 706-821-3064 fax 706-284-5610 cell wspro use @Augusta E DA.o rg www.AuqustaEDA.org Exchange D e fe n ci e r Message Security: Check Authenticitlr EXHIBIT A: SCHEDULE C-1 FACTORS APPLIED TO APPRAISED VALUE TO ARRIVE AT VALUATION OF LEASEHOLD INTEREST 3o,YtrsRsct{E8t rE, VEAfi'FACTOR 1 -:E% 2 15o/o ,',3 .:.,:.4.5y1 4 7So/c :'_,., i : ::{i '-LY/c e t5% :':.;":=:. ,'' 8 L5% :-::3F.rr, 10 75% ,,',#?-9 12 17o/o :it.:;€#gg ;:n r],;i g 1.4 27% |,*= 16 27% ',.'L.l_,1.-.,|EQ-% 18 33% :-??9; 20 40o/o -,,l,,5zl 22 49o/c :.t3 ','.54tt 24 59% '.,$5% 26 71% t,i,2-3 :|3.9|!/" 28 84% ':::.,92o/o 30 100% Finance Committee Meeting 9/12/2017 1:20 PM Tax Savings Schedule Department: Presenter:Commissioner Ben Hasan Caption:Discuss/receive information from the Administrator and Chief Tax Appraiser regarding the tax savings schedule used by the Richmond County Development Authority. (Requested by Commissioner Ben Hasan) Background: Analysis: Financial Impact: Alternatives: Recommendation: Funds are Available in the Following Accounts: REVIEWED AND APPROVED BY: