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From YouTube: Finance Committee
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B
Hello,
I'm
gwen
whistler
of
the
chair
of
the
finance
and
human
resources
committee
and
I'd
like
to
welcome
you
to
the
august
18th
remote
meeting.
All
council
committee,
members
and
staff
are
participating
virtually.
We
appreciate
your
patience
as
we
work
through
holding
these
committee
meetings
a
bit
differently,
although
not
really
that
differently.
These
days,
we've
been
virtual
for
a
long
time
to
help
our
audience
follow
along
I'll
state.
Each
section
of
the
agenda
aloud.
B
B
Meeting
code,
five,
two
five:
seven,
your
phone
will
be
muted
and
you
will
hear
the
meeting
live
at
this
point.
Speakers
will
need
to
push
star
three
to
enter
the
speaker.
Queue
I'll
now
go
through
and
introduce
the
committee
members
and
some
of
the
city
staff
that
are
participating
virtually.
Please
make
sure
to
mute
your
microphone.
If
you
are
not
speaking
when
you
would
like
to
speak
unmute
your
microphone,
please
remember
to
re-mute
your
microphone
after
speaking,
council
and
staff.
B
As
I
call
your
name,
please
say:
a
quick
hello,
councilwoman
sandra
kilgore,
hello,
councilwoman,
sage,
turner,
good
afternoon,
city
manager,
deborah
campbell,
hello
assistant,
city
manager,
kathy
ball
good
afternoon,
interim
assistant
city
manager,
peggy,
rowe,
hello,
great.
So
we
have.
We
have
other
staff
that
are
participating
but
I'll
introduce
them
as
we
go
through
the
agenda
so
to
help
our
audience
follow
along
again
I'll
state
each
section
of
the
agenda
aloud
and
do
a
vocal
roll
call
for
each
vote.
B
I
don't
I
don't
know
that
there's
actually
a
vote
today,
but
additionally,
I
asked
the
committee
members
raise
their
hand
to
speak
and
I'll
call
on
them.
Our
first
item
is
proposed
fee
adjustments
for
advertising
on
the
asheville
rides
transit
buses,
I'll
turn
it
over
to
assistant
transportation,
director
jessica
morris,
to
discuss
this
item
there.
You.
D
Okay,
sorry
about
that,
you
probably
think
that
you're
having
deja
vu,
because
we
did
in
fact
update
the
transit
fees
for
advertising
on
city
buses
back
in
april
as
part
of
a
larger
package
that
the
finance
department
brought
forward
to
update
various
fees.
D
B
Beth,
nothing
is
showing
on
my
screen.
Are
you
sharing
jessica's
presentation,
no
she's
just
talking
through
this
okay,
I
thought
she
she
just
referenced
something
okay,.
D
D
I
didn't
include
the
erroneous
fees
that
were
approved
and
went
into
effect
in
july,
but
I
just
recently
updated
the
council
reports
so
when
this
goes
to
council,
those
will
be
included
as
well,
but
essentially
those
erroneous
fees
really
have
only
been
in
place
since
july.
D
1St
and
no,
we
haven't
had
any
any
applicants
for
advertising
on
transit,
so
this
shouldn't
affect
anyone,
but
what
we
intended
to
have
approved
and
adopted
as
part
of
the
fee
update
included,
I
would
say,
modest
increases
based
on
what
we
saw
other
agencies
incorporating
and
more
flexibility
and
more
options
for
folks
that
may
wish
to
advertise
with
us
on
transit.
This
is
a
very,
very
small
revenue
source
for
transit,
but
we're
hoping
that
maybe
some
of
these
changes
will
provide
more
incentive
for
folks
to
look
at
this
as
an
option
for
advertising.
D
So
what
we're
looking
for
from
you
today
is
a
recommendation
to
approve
the
proposed
or
recommendation
for
this
to
move
forward
to
council
to
approve
the
proposed
fees,
and
this
would
be
an
ordinance
amendment
or
a
new
ordinance.
I
should
say
that
would
replace
the
the
old
one
and
would
go
into
effect
immediately
upon
adoption.
B
Okay,
I
would
entertain
a
motion
to
move
this
to
adopt
this
and
move
it
forward
to
for
adoption
by
city
council
I'll
second,
okay,
so
I'll
do
a
roll
call
vote,
councilwoman,
kilgore,
yes,
councilwoman,
turner,
hi
and
I'm
anna
great.
Thank
you
appreciate.
E
Although,
although
I
do
like
being
in
more
casual
clothes
as
I'm
presenting
to
you
all,
that
is
one
that
is
one
of
the
benefits
of
this
but
good
afternoon,
tony
mcdowell,
finance
director
as
council
member
whistler,
indicated
the
next
item
on
the
agenda
is
the
cfo
update
and
there's
actually
four
kind
of
sub-bullet
points
under
the
cfo
update,
the
first
of
which
is
a
discussion
of
a
regular
meeting
time.
I
think,
as
you
all
know,
the
finance
committee's
sort
of
been
in
hiatus
since
the
pandemic
started.
E
I
think
you
all
met
once
back
in
april
to
talk
about
fee
adjustments
that
meaning
that
jessica
just
referenced.
So
we
wanted
to
start
today
by
talking
to
you
all
about
what
might
be
a
good
meeting
time
meeting
frequency
moving
forward.
So
with
that
I'll
turn
it
back
over
to
you,
council,
member
whistler,
for
that
discussion.
B
What
the
well
not
really
consistently!
Now
that
I
see.
A
Yeah,
the
the
original
time
back
way
back
when
was
the
the
fourth
tuesday
right
before
council
at
3
30,
and
I
looked
back
over
the
years
and
almost
like
85
percent
of
the
time
we
had
to
move
that
for
a
work
session.
So
I
wouldn't
really
recommend
that
time.
B
A
B
Okay,
I
don't
know
about
anyone
else,
but
I
sort
of
like
to
keep
these
committee
meetings
either
in
the
second
or
the
fourth
week.
Just
you
know,
in
the
event
that
you
can
actually
ever
go
on
vacation
when
you're
on
council
you
get
a
week
that
doesn't
have
a
committee
meeting.
B
E
B
We'll
see
whether
they
can
join
back
in
their
center.
Okay.
Now,
how
about
sage?
Oh
there
we
go
there,
you
go
sage.
Are
you
the
one
who
likes
to
have
your
mondays
available
and
not
counsel,
not
schedule
meetings
if
possible?
Yes,.
F
Okay
and
sorry,
I
had
a
tech
issue.
There,
something
dropped.
B
Yeah,
I
figured
that
and
our
work
sessions
usually
start
when
around
three.
B
A
B
The
only
the
only
issue
is,
if
you
have
it
on
wednesday,
then
you
know
you're
automatically.
I
mean
we
can't
ever
do
anything
that
day
of
kind
of
thing
it
kind
of
needs
to
be
before
I
think
do
any
of
the
other
council
members
have
a
preference
for
setting
up
the
finance.
B
B
That
puts
that.
That
makes
a
tough
day
for
you
sandra,
especially
if
we
have
a
work
session.
That
means
you'll
pretty
much
be
you
know
in
meetings
from
11
in
the
morning
until
11
at
night.
B
That's
fine,
that's
fine,
okay,
so
we'll
say
the
fourth,
the
fourth
tuesday
at
one,
and
then
I
mean
we
don't
have
a
problem
canceling.
If
we
have,
if
we
don't
have
things
on
the
agenda,
so.
E
Thank
you
all,
so.
The
next
two
bullet
items
under
the
cfo
report
I'm
going
to
come
combined
into
kind
of
one
discussion
here
and
that's
introduction
of
some
of
our
new
staff
in
the
finance
department,
or
in
particular
one
new
staff,
member
and
also
kind
of
an
overview
of
our
finance
department
functions
and
our
organizational
structure,
and
I
wanted
to
cover
this
today.
I
know
we
have
kind
of
a
light
agenda
and
we
haven't
met
in
a
while
and
council
member
kilgore
and
councilman.
Remember.
E
Turner
are
both
new
to
the
to
the
committee,
so
I
wanted
to
kind
of
give
you
all
an
introduction
to
the
finance
department
and
what
we
do.
I
know
you
all
hear
from
us
a
lot
during
the
budget
process,
you're
very
familiar
with
that
and
the
journey
that
we
take
you
all
along
as
we
go
through
the
budget
and
a
little
bit
familiar
with.
E
Probably
with
hearing
us
talk
about
the
the
year-end
audit
and
the
comprehensive
financial
report
that
we
do,
but
there's
a
lot
of
other
things
the
finance
department
does
as
well.
So
I
want
to
introduce
some
key
staff
and
kind
of
show
you
all
the
organizational
structure
as
well
beth.
If
you
could
pull
up
that
pdf
that
I
sent
you
I'll
start
there
and
I
apologize.
I
am
not
a
org
chart
whiz,
and
so
this
is
something
that
was
created
in
google
sheet.
E
Google
sheets
we're
working
on
putting
together
a
better
one
that
has
names
and
titles
and
all
that.
But
the
purpose
is
today.
I
think
this
works,
and
so
this
kind
of
gives
you
an
overview.
What
the
finance
department
looks
like.
We
have
32
positions
in
our
department
and
kind
of
four
key
areas.
E
That
report
up
to
me
as
the
department
director
and
so
the
first
one
I
want
to
start
with
in
each
one
of
the
kind
of
key
reports,
you're
going
to
introduce
themselves
and
kind
of
talk
through
with
you
with
what
they
do
in
their
areas.
But
I
want
to
start
with
the
the
new
staff
and
I'm
going
to
use
air
quotes
when
I
say
new,
because
our
new
assistant
finance
director
for
accounting
services
is
actually
not
new.
E
She
is
returning
to
the
city
after
leaving
to
go
to
the
county
for
about
a
year,
but
prior
to
that
she
was
with
us
as
our
controller
here
at
the
city
becky
king
has
joined
us.
I
think,
as
last
monday
was
her
first
day
back
at
the
city
and
she's
filling
the
role
of
of
the
assistant
director.
E
It's
the
one,
that's
in
the
light
blue
on
the
org
chart
there
and
it
was
the
assistant
director
position-
was
one
that
I
held
before
becoming
the
department
director,
and
at
that
point
it
was
an
assistant
director
that
was
focused
on
budget
and
when
barbara
was
here,
barbara's
background
was
in
more
in
finance,
she'd
been
a
controller,
and
so
I
thought
that
her
and
I
working
together.
E
Hers
is
kind
of
the
accounting
expert
me
on
the
budget
side,
really
balance
things
out
well
and
so,
as
we
began
recruiting
for
an
assistant
director,
I
was
really
looking
for
someone
who
could
provide
that
that
that
balance
that
we
had
when
barbara
was
here.
So
with
that
I'll,
let
becky
introduce
herself
and
kind
of
talk
a
little
bit
about
herself
and
the
area
that.
H
That
she's
over
thanks
tony
yes,
so
I
am
becky
king.
I
was
formerly
the
controller
for
the
city
of
asheville.
I
think
I
held
that
position,
oh
gosh,
for
about
two
and
a
half
years.
Prior
to
that
I
was
an
accountant
for
the
city,
so
I
learned
a
lot
during
that
time.
I
did
leave
for
about
a
year.
I
went
and
worked
for
the
county.
I
was
the
accounting
and
reporting
manager
over
there,
so
have
been
in
government
for
about
five
years
before
that
I
was
the
finance
manager
for
a
non-profit
here
in
asheville.
H
The
operations
side
are
payroll
accounts,
receivable
accounts
payable
debt,
cash
management
and
I
think
that's
the
majority
of
the
things
that
they
take
care
of
the
reporting
side.
Honestly,
we
do
more,
or
they
do
more
of
the
background
things
for
the
city,
so
grant
reporting
our
p-card
program
also
sits
under
the
financial
reporting
side
of
things.
They
take
care
of
the
annual
audit,
the
annual
financial
statements
that
we
produce
fixed
assets,
bank
reconciliations
and
all
of
the
other
kind
of
behind
the
scenes,
things
that
happen
for
the
finance
department.
E
Come
back
to
that!
Well,
let's
just
we'll
go
around
and
introduce
other
folks!
First
so,
and
thanks
thanks
becky
I'll
look
on
the
and
go
right
and
and
go
to
taylor.
I
think
you
all
know
taylor
from
the
budget,
but
I'll.
Let
taylor
kind
of
talk
a
little
bit
about
his
division
and
and
what's
going
on
there
right
now,.
C
Thanks
tony
yeah,
as
I
think
you
all
are
aware,
the
budget
division
primarily
supports
the
development
of
the
city's
budget
through
the
annual
budget
process,
and
then
we
also
help
departments
as
they
manage
their
budgets
throughout
the
fiscal
year
right
now,
we're
kind
of
in
the
planning
stages
for
our
next
budget
process.
C
We
got
the
the
budget
document
done.
That's
kind
of
the
last
little
piece
of
of
the
fy
22
the
current
year
budget
year
and
and
now
it's
on
to
fy23.
So
the
planning
starts.
We've
been
working
over
the
last
couple
years
with
cape
and
equity
data
and
performance.
We're
going
to
continue
that
that
plan
trying
to
grow
our
community
engagement,
that
we've
been
doing
around
the
budget
and
continue
to
work
with
departments
to
help
better
incorporate
equity
into
decision
making
and
service
delivery
needs.
C
So
that's
kind
of
the
at
a
very
high
level.
What
we're
you
know
trying
to
trying
to
work
towards
as
again
as
we
start
to
plan
the
budget
this
year.
Probably
the
next
thing
that
you'll
see
from
us.
C
If
you
recall
from
our
our
last
budget
process,
you
know
we
mentioned
some
a
review
of
services
or
sanitation
and
stormwater,
which
feels
timely
right
now,
so
we're
gonna
work
with
public
works
on
on
those
two,
so
you
should
hopefully
be
seeing
that
you
know
sometime
before
the
end
of
the
calendar
year.
C
One
more
thing
I'll
mention
is,
since
you
know,
tony's,
on
to
bigger,
bigger
and
better
things
than
just
budget,
and
we
had
another
staff
member
get
a
promotion
internally
in
the
city
which
is
great
for
her,
so
we're
actually
hiring
two
new
staff,
and
hopefully
we'll
have
them
on
in
the
next
couple
months.
I
Sure
sounds
great
good
afternoon:
everyone,
my
name
is
brad
stein,
I'm
the
city
risk
manager
and
the
title
ii
ada
coordinator
and,
as
you
see
on
the
org
chart,
the
risk
management
division
is
part
of
finance.
We
have
five
total
fte
assigned
to
the
risk
division.
Two
of
those
are
liability.
Claims,
adjusters,
licensed
adjusters
handling,
claims
that
arise
against
the
city
and
I'll
explain
a
little
bit
about
that,
and
also
two
kind
of
osha
safety
officers,
dedicated
safety
personnel
who
champion
our
osha
compliant
program,
city-wide
as
a
centralized
function.
I
So
some
of
the
main
program,
kind
of
aspects
of
the
risk
division
of
the
city
are
really
a
self-insured
claim
program
so
for
liability
claims
and
for
workers
compensation.
We
are
self-insured
and
that's
why
we're
probably
part
of
the
finance
department.
Here.
I've
served
here
about
nine
and
a
half
years,
and
I've
worked
as
a
risk
manager.
In
other
municipalities
in
school
districts,
I've
been
in
the
city,
manager's
office.
I
I've
been
in
an
hr
department,
but
here
at
the
city,
because
we're
handling
these
these
funds
to
settle
claims,
and
we
also
ensure
we
also
write
all
the
insurance
for
excess
insurance
and
large
exposure
to
the
city.
A
lot
of
funds
are
handled
in
risk,
so
we're
part
of
the
finance
department
here.
I
So
we
really
optimize
great
service
for
claims
like
when
a
citizen
member
asserts
a
claim
against
the
city,
whether
it
be
a
property
damage
claim
or
a
bodily
injury
claim
that
they
say
the
city
is
responsible
for
we
have
folks
in-house
here,
city
employees,
who
are
responding
to
those
claims
and
really
provide
great
service
to
the
citizenry,
and
we
also
control
costs
by
doing
that
by
handling
every
claim
really
in-house
and
on
our
own
we
really
save
a
lot
of
money
strategically
in
insurance
costs.
So
we
manage
that
program.
I
The
self-insured
claim
fund
program.
We
administer
all
the
other
insurance
like
excess
insurance
for
catastrophic
claims,
whether
it
be
those
liability
claims,
workers,
compensation
claims
that
may
arise,
damn
liability
insurance
for
our
water
system.
All
these
other
exposures,
the
city,
has
we.
The
city's
risk
management
office
also
ensures
that
we
have
insurance
coverage
for
that
and
we
also
advise
a
lot
of
other
like
words
like
risk
kind
of
advisory
services.
Citywide
we
work
with
every
department
and
so
we're
kind
of
unique
and
it's
really
fun
and
dynamic.
I
We
provide
all
these
kind
of
special
project
services.
We
review
every
contract
and
approve
that
also
citywide,
so
to
make
sure
all
the
terms
of
the
contract
and
the
insurance
terms
and
the
evidence
of
contractors,
insurance
is
valid
so
that
when
folks
come
and
do
work
on
behalf
of
the
city
should
something
go
wrong.
The
city's
interests
are
protected
and
we
transfer
that
risk
to
that
contractor
responsible
for
the
work
they're
doing
so.
I
We
review
all
those
contracts
and
advise
staff
city-wide
on
their
contract
provisions,
and
we
also
help
the
outdoor
special
event
program
kind
of
review
every
applicant.
So
anyone
wanting
to
do
an
event
on
city
property
risk
also
advises
and
works
cross-functionally
with
that
review
team
to
make
sure
that
the
the
events
are
going
to
be
conducted
safely
and
if
folks
need
insurance
to
do
their
activities
on
city
property
that
we
we
validate
that
too
again
to
protect
our
interests
and
ultimately,
the
public's
interest
too.
E
Thanks
thanks
brad
and
last
but
definitely
not
least,
frank
mcgowan.
Our
finance
strategic
services
manager.
J
Good
afternoon
I'm
frank
mcgowan,
the
financial
strategic
services
manager,
I've
been
with
the
city
for
13
years,
eight
with
finance
and
five
with
parks,
and
I
report
to
tony.
I
lead
a
team
of
eight
people.
I
supervise
strategic
services
which
encompasses
purchasing
agreements
and
grants
compliance
and
business
services
and
administration.
J
Most
importantly,
they
provide
support
to
the
finance
and
human
resources
committee.
They
also
manage
contracting
purchasing
and
administration
for
the
department,
and
I
will
mention
beth-
has
done
a
fantastic
job
for
us
in
this
area,
but
she
is
moving
over
to
communications.
Full-Time
she's
been
doing
two
jobs,
basically
for
a
while,
so
we
are
recruiting
currently
for
a,
I
can't
even
say
a
new
bath.
There
is
no,
there
is
no
other
bath,
but
we're
we're
looking
for
a
replacement
for
that
position.
J
J
Lastly,
the
purchasing
division
has
a
team
of
five
purchasing
professionals.
We
have
four
certified
local
government
purchasing
officers
and
that's
a
rigorous
purchasing
certification
offered
by
unc
school
of
government.
Our
fifth
member
of
the
team
will
be
testing
for
their
certification
in
march.
So
soon
we'll
have
an
entire
team
that
are
certified,
professional
or
purchasing
purchasing
professionals.
J
That
division
is
responsible
for
fulfilling
the
procurement
needs
of
all
departments.
Following
state
statute,
city
policy
and
federal
guidelines,
the
authority
for
purchases
is
delegated
to
the
purchasing
manager
and,
while
contracting
is
decentralized
to
the
departments,
purchasing
advises
on
bid
process,
manages
bid
advertisement,
reviews
compliance
with
statute
and
policy
and
completes
all
the
administrative
functions
related
to
contracting
they're,
also
responsible
for
the
disposal
of
surplus,
and
we
use
an
online
disposal
or
we
use
an
online
vendor
to
help
us
dispose
of
surplus,
but
anything
valued
over.
J
They
also
advise
on
grant
funded
projects
and
purchases
to
ensure
compliance
with
grant
guidelines,
especially
especially
state
and
federal
requirements,
and
this
is
becoming
even
more
important
as
we
have
26
million
dollars
of
american
rescue
plan
act,
funding
that
will
be
dispersed
over
the
next
several
years.
E
And
I
promise
we
didn't
rehearse
this,
but
that's
a
great
lead
in
the
rescue
plan.
There's
one
position,
that's
not
shown
on
our
chart
and
that's
because
it
is
new.
We
actually
just
started
recruiting
for
it
last
week,
but
it
is
a
position,
a
time
limited
position
to
help
us
manage
the
american
rescue
plan
dollars
over
the
next
three
to
five
years.
E
I
think,
as
you
all
know,
patricia
rosenberg
has
been
wearing
two
hats
in
addition
to
her
internal
audit
duties,
she's
kind
of
well,
she
has
been
our
arpa
manager
for
the
last
few
months.
We
are
going
to
be
hiring
a
position
that
will
be
in
the
finance
department
that
will
take
over
responsibilities
for
that
in
the
next
few
months.
So,
if
you
all
know
someone
out
in
the
world
looking
for
that
type
of
opportunity,
please
point
them
to
our
website.
B
I
have
one
question:
how
does
the
purchasing
department
work
with
the
our
new
our
new
policy
around
making
sure
that
we
that
we
are
giving
opportunities
and
for
minority
and
women-owned
businesses
is.
J
So
to
answer
your
question,
the
asheville
business
inclusion
office
has
their
own
policy.
We
recently
our
council
recently
approved
an
update
to
the
purchasing
policy
so
that
we
are
ensuring
that
any
contract
that
is
processed
is
following
our
asheville
business
inclusion
guidelines.
So
it's
up
to
each
department
to
do
their
respective
outreach.
J
J
G
The
only
thing
I'd
like
to
say
is
tony:
I
really
appreciate
this.
This
oversight
that
you've
given
me
it
you
know
just
sort
of
puts
the
pieces
in
place,
whereas
before
you
know
I
didn't
have
it
at
least,
but
I
really
appreciate
it
and
it's
helped
me
understand
the
whole
process
a
lot
better.
Thank
you.
E
Yeah
well
well,
thank
you
for
that
feedback
and
that's
exactly
what
we
wanted
to
hear.
I
mean
you
all,
as
I
mentioned
when
I
started
talking,
I
mean
you
all,
hear
us
and
see
us
a
lot
during
the
budget
process.
You
hear
us
a
little
bit
at
the
end
of
the
audit
process,
but
there's
a
whole
lot
we're
doing
every
day,
something
I
think
frank
coined
the
term
silent
running
where
we're
paying
vendors
and
we're
paying
employees
and
we're
executing
contracts
and
we're
dealing
with
our
risk
exposure.
E
E
On
the
on
the
org
structure,
I'll
I'll,
let
becky
kind
of
walk
you
all
through
where
we
are
with
the
with
the
year-end
audit
process.
H
So
year
end
audit,
like
tony
said,
I
think
today
is
my
seventh
day,
so
I'm
trying
to
get
caught
up
with
everything
related
to
the
year-end
audit,
but
I
will
give
you
guys
kind
of
an
update.
So
this
week
we
are
working
to
get
our
general
ledger
closed
for
fiscal
year
21,
so
we
use
munis.
H
So
there
is
a
lot
of
coordination
between
all
of
the
different
departments,
all
of
the
different
divisions
within
finance
to
make
sure
we
have
a
smooth
close
we're
doing
some
testing
right
now,
and
it
is
our
hope
that
friday
evening,
at
the
end
of
business,
we
will
go
ahead
and
close
the
fiscal
year.
That
is
really
important
so
that
the
financial
reporting
and
honestly
kind
of
everybody,
but
the
financial
reporting
division
takes
the
lead
on.
H
This
is
able
to
do
reconciliations
and
work
papers
to
get
to
the
auditors
so
that
we
are
ready
for
them
to
come
and
do
final
field
work.
We're
finishing
up
a
couple
things
from
our
preliminary
field
work
with
them.
There
were
a
couple
of
outstanding
items
that
we
are
getting
to
them
right
now
and
then
we
will
start
digging
into
all
of
our
accounts
to
make
sure
they
balance
the
way
they
should.
It
is
our
plan
to
get
a
trial
balance
to
them
the
beginning
of
september.
H
They
will
be
on
site
to
do
final
field
work,
the
weeks
of
september,
20th
and
27th,
and
so
I
know
that
we
had
a
couple
of
findings
last
year,
so
I
have
talked
with
multiple
people
on
our
auditor
staff
about
about
those
issues
and
how
we
can
make
sure
they
do
not
happen
again
this
year
and
I
will
be
keeping
a
very
close
watch
on
all
of
those
items
as
we
kind
of
progress
through
the
audits
this
year
to
make
sure
that
we
don't
have
those
same
findings
this
year.
H
It
is
a
local
accounting
firm
here
in
asheville
and
they're
kind
of
helping
us
get
through
this
process,
giving
us
some
feedback,
some
guidance
on
things
that
we
want
to
just
make
sure
that
we
look
at,
and
we
have
also
hired
a
temp
employee
to
kind
of
help,
with
workload
on
both
the
operations
and
the
reporting
side
of
things.
So,
after
discussions
with
the
auditors,
we
are
going
to
try
our
best
to
meet
our
october
31st
deadline.
H
That
is
my
goal.
I
not
a
huge
fan
of
pushing
it
off
because
it
just
gets
pushed
farther
off
into
the
year
that
we
need
to
be
working
on
currently.
So
as
of
right
now,
we
are
looking
good
for
october
31st.
B
Counsel,
any
questions
yeah.
I
I'd,
be
a
big
fan
of
no
no
reporting
from
the
auditors
other
than
cleanliness.
So
welcome
back
becky,
you
know
go
into
the
county,
you
know
it's
always
a
slippery
slope.
B
H
E
Yeah,
I
think
that's
it.
I
think
that
we
can
move
on
to
the
next
item
on
the
agenda
and
again
because
we
did
have
a
kind
of
a
wide
agenda
this
time-
and
you
know
we
spent
some
time
talking
with
you
all
about
the
the
structure
of
our
department
and
everything.
E
The
last
thing
we
want
to
talk
about
and
we'll
turn
it
over
I'll
turn
it
over
to
doug
whitman
our
treasurer
to
talk
about
our
debt
overview,
just
to
kind
of
give
you
all
a
presentation,
kind
of
an
introduction
to
our
debt
program.
You
all
have
seen
at
the
council
level
a
couple
of
actions
over
the
last
six
months
or
so
related
to
our
debt.
I
think
it
was
back
in
april
or
so,
and
I'm
sure
doug
will
have
this
in
his
presentation.
E
You
all
approved
us
issuing
our
latest
debt
for
our
capital
improvement
program,
our
labs
and
our
saabs,
our
limited
obligation,
bonds,
our
special
obligation,
bonds
and
then
we're
getting
ready
to
come
back
to
you
all
again
with
some
actions
in
the
next
next
few
meetings
for
us
to
issue
some
debt
for
water
project.
The
the
water
treatment
plant
upgrades
that
would
that
was
recently
completed,
and
so
I
thought,
it'd
be
a
good
opportunity
for
us
to
kind
of
give
you
all
a
look.
E
K
Thanks
tony
so
I'm
doug
whitman,
I
work
in
finance
as
the
treasurer
for
the
city.
I've
been
with
the
city
for
about
three
years
now
and
have
really
enjoyed
that.
K
As
tony
was
saying,
we
are
going
to
be
issuing
some
30-year
bonds
for
the
water
department,
water
revenue,
bonds,
and
you
will
have
already
seen
in
in
your
committees
or
in
council
meetings,
kind
of
requests
for
approval
of
that,
and
we
will
be
going
to
issue
those
bonds
at
the
end
of
september
and
as
tony
and
I
were
talking
about
this
again,
just
to
reiterate
what
tony
was
saying
was:
it
might
be
a
good
idea
to
take
a
few
minutes,
10
or
15
minutes
to
kind
of
take
a
step
back
and
go
through
our
overall
debt
program.
K
So
here's
what
we're
going
to
do
we're
going
to
talk
about
the
objectives
of
the
debt
program,
what
what
expenditures
the
city
has
for
for
certain
for
debt
funding
and
then
we're
going
to
talk
about
three
areas
of
debt.
It
really
does
boil
down
to
three
different
types
of
debt
that
we
issue
that
takes
up
about
99
of
of
the
debt
we
have
on
our
books.
K
What
we'll
start
with
then,
is
on
the
debt
objectives.
A
lot
of
these
are
pretty
intuitive.
What
we
want
to
do
as
a
city
is
smooth
out
cash
flows.
What
I'm
going
to
do
during
this
discussion
is
use
an
example
throughout
all
of
this,
and
it
is
our
30-year
bonds
that
are
coming
up.
So
in
2018,
the
water
department
started
undertaking
a
project
for
the
north
fork
dam.
K
The
north
fork
dam
provides
something
like
75
to
80
of
the
water
for
the
city,
it
is
very
important
to
the
city
and
it
was
going
to
spend
about
40
million
dollars
over
a
three-year
period
to
enhance
the
embankments,
the
spillway
various
things,
but
that
40
million
dollars
over
a
three
year
period
really
represented
a
spike
in
capital
spending
to
what
the
what
the
water
department
would
typically
do
from
year
to
year.
So
this
became
a
very
good
candidate
for
our
debt
program
and
to
then
layer
out
over
a
30-year
period.
K
The
capital
costs
of
the
the
north
fork
dam
project,
the
other
point
on
smoothing
out
cash
flows,
that
the
city
does.
That
is
really
a
a
saver
for
expense.
Is
we
borrow
funds
only
as
we
are
spending
those?
What
I'll
do
as
an
example
is
on
the
north
fork
dam?
Other
municipalities
may
have
taken
out
a
loan
or
issued
bonds
for
the
for
for
the
full
40
million
dollars
at
the
start
of
the
project.
K
K
So
we
do
that
by
staying
in
the
capital
markets
and
what
that
simply
means
is
on
any
given
year
or
every
other
year
we're
going
to
be
issuing
bonds,
so
the
capital
markets,
investors
nationwide,
know
the
name
city
of
asheville
and
in
fact
we
have
a
high
rating
for
our
general
obligations.
It's
triple
a
which
is
the
very
highest
you
can
have.
K
K
So
that's
how
we
keep
keep
our
pricing
or
our
costs.
Our
interest
rates,
low,
okay,
beth,
if
you
don't
mind.
K
K
So
tony
was
talking
about
the
capital
improvement
plan.
The
the
annual
budget
process,
where
we
we
get
approval
for
a
certain
amount
of
capital,
spend
well
that
capital
spend
can
actually
actually
be
funded
through
debt
as
we're
going
to
talk
about,
but
also
pay-as-you-go
funding
and
grants.
Federal
grants
state
grants.
K
So
when
the
city
takes
a
step
back
and
is
trying
to
determine
what
is
the
appropriate
level
of
debt
that
we
should
have,
what
you
should
know
is
behind
the
scenes.
The
finance
department
and
its
financial
advisors
have
modeled
kind
of
multi-year
projected
cash
flows,
not
just
the
annual
budget,
but
looking
out
two
three
five
years
and
as
we're
looking
out
at
that
and
we're
including
things
like
anticipated
revenues
and
expenses
and
capital
outlays,
then
we
get
a
sense
of
how
much
we
can
fund
this.
K
Okay,
thanks
I'll
keep
going.
Okay!
Beth!
If
you
don't
mind,
so
I
really
wanted
to
streamline
this
our
debt
programs.
It
really
boils
down
to
three.
What
we're
going
to
do
is
we're
going
to
talk
briefly
about
each
one
of
these
three
and
then
I'll.
Give
you
a
sense
of
how
much
debt
we
have
in
each
one
of
these
programs.
K
K
If
you
walk
away
with
kind
of
a
rule
of
thumb,
if
you
will
our
total
debt
program
thanks
beth,
our
total
debt
program
is
about
190
million.
The
bond
anticipation
notes
represent
maybe
about
40,
to
50
million
the
refunding
bonds,
maybe
about
125
million
and
then
the
equipment
loans.
The
rest,
the
vast
majority,
though,
or
the
big
ticket
items,
are
through
the
refunding
bonds.
K
K
K
K
So
we
get
four
or
five
different
banks
to
compete
on
this.
It
is
a
variable
interest
rate
because
the
banks
are
giving
us
a
lot
of
flexibility
as
and
when
we
draw
down
on
this
loan.
We
also
set
a
timeline.
We
knew
that
the
north
fork
dam
would
take
approximately
three
years.
So
this
bond
anticipation
note
likewise,
is
about
three
years
and
so
again,
as
we
were
spending
money
from
2018
all
the
way
through
2021,
we
would
draw
down
on
this
loan,
as
the
city
was
spending
money
and
what
I
can
tell
you
is.
K
As
of
early
2021,
we've
drawn
down
the
full
40
million
dollars,
okay,
so
beth.
If
you
don't
mind,
this
will
just
give
you
some
sense.
Okay,
so
I
keep
using
the
water
band
as
an
example,
we
had
a
not
to
exceed
amount
of
40
million
dollars.
We
drew
down
40
million,
it
is
a
variable
rate
loan
and
here's.
What's
really,
I
think
interesting
is
because
interest
rates
are
so
low.
K
K
Having
said
that,
though,
if
interest
rates
were
to
go
back
up,
then
the
interest
cost
would
go
up
as
well.
We
also
have
an
outstanding
general
obligation.
Bond
ban
and
the
not
to
exceed
amount
is
25
million.
We
put
it
in
place
in
2020
and
it
will
last
until
2023
and
it's
funding
various
projects,
projects
that
have
to
do
with
parks
and
recreation,
transportation
and
public
housing.
K
K
If
you
would
thanks
so
then
the
second
of
these
three
programs
are
refunding
bonds
and-
and
these
are
the
long-term
bonds-
these
can
either
be
geos,
lobs,
saabs
or
water
and
those
are
acronyms
and
I'm
in
the
next
slide,
I'm
going
to
talk
a
little
bit
about
what
those
acronyms
are
and
and
and
why
we
have
those
the
funding
source
is
we
use
an
underwriter
in
the
case
of
the
the
water,
the
north
fork
dam
we're
using
an
underwriter
bank
of
america
securities,
so
they're
going
out
marketing
these
bonds
to
the
capital
markets,
and
we
hope
to
then
close
on
that
at
the
end
of
september.
K
K
Basically,
the
term
is
from
20
to
30
years
and
we
pay
principal
every
six
months,
principal
and
interest
now.
The
reason
we
do
this
is:
it
goes
back
to
one
of
our
objectives
of
matching
kind
of
the
asset
life
to
the
debt
payments.
So
a
lot
of
these
assets,
like
the
north
fork
dam,
will
have
a
useful
life
of
decades.
K
So
we
talked
a
little
bit
about
those
bond
anticipation
notes,
that's
really
a
bank
loan,
it's
a
contractual
agreement
between
ourselves
and
a
bank.
Okay.
So
what's
a
general
obligation
bond
well
when
you're
an
investor,
what
you're
counting
on
is
the
full
taxing
power
of
the
city,
so
all
the
revenue
that
the
city
brings
in
it
can
be
used
to
pay
off
the
general
obligation
bonds
and,
as
I
said
a
little
bit
earlier,
that
debt
rating,
both
from
moody's
and
standard
and
poor's,
is
triple
a
rated
the
very
highest.
K
So
we
get
very
low
interest
cost
for
that.
K
Okay,
special
obligation,
bonds,
so
they're
often
called
saabs.
Those
are
interesting
in
that
they
are
they
if
you're
an
investor.
What
is
backing
those
up
is
the
potential
tax
revenue
from
economic
zones
in
the
city,
so
the
city
has
four
economic
zones,
the
downtown,
the
river
arts
district,
north
charlotte
street
and
the
south
slope,
and
we
invest
a
lot
of
money
into
developing
those
areas.
K
The
city
has
the
right
actually
to
to
put
in
place
additional
economic
taxes
for
businesses
in
those
areas.
Now
the
city
has
not
done
that
to
be
really
clear.
The
city
has
not
done
that,
but
we
do
have
the
right
to
do
that.
So,
if
you're
an
investor
in
special
obligation
bonds,
you
know
that
that's
being
backed
by
this
kind
of
special
taxing
power
of
the
city
and
then
finally,
we
we've
been
talking
about
the
water
revenue
bonds.
K
K
K
K
Now,
at
the
end
of
september,
when
we
issue
those
water
revenue
bonds,
those
40
million
dollars
worth
those
will
be
added
to
this.
This
list
of
refunding
bonds,
so
we'll
add
40
million
to
the
refunding
bonds,
but
also
the
bond
anticipation
notes.
Those
will
be
reduced
by
40
million,
we're
basically
issuing
bonds
and
the
money
that
we're
bringing
in
from
those
bonds
go
off,
go
towards
paying
off
the
ban
or
the
bond
anticipation.
Note:
okay,
okay,
beth!
Thank
you!
K
Okay,
the
third
and
final
are
equipment
loans,
and
this
is
a
little
bit
different,
maybe
even
a
little
bit
of
a
hybrid
on
an
annual
basis.
The
city
is
purchasing
vehicles,
the
fleet
division,
fire,
police,
all
are
buying
vehicles
and
the
it
group
is
buying
equipment.
K
Again
we
reach
out
to
our
core
group
of
banks,
and
we
are
looking
for
a
loan
and
it's
a
it's
just
under
five
years:
a
loan
to
pay
for
the
vehicles,
the
city
vehicles
and
the
I.t
equipment,
and
because
it's
going
out
nearly
five
years,
we're
looking
for
a
fixed
rate
that
gets
competitively
bid
by
these
different
banks
and
again,
what
is
the
benefit
of
this?
This
kind
of
hybrid?
If
you
will
well,
the
debt
itself
is
matching
the
useful
life
of
the
asset,
so
it
falls
under
that
matching
objective
and
beth.
K
K
K
What
I
want
to
re-emphasize
here,
though,
is
you,
can
see
for
our
equipment,
loans,
different
banks
and,
in
fact,
home
trust
bank,
a
local
bank,
that
we
have
a
very
strong
relationship
with
in
2018
one
won
the
loan.
We
also
have
pnc
jpmorgan
chase,
so
it
is
a
mixture
of
money,
center
banks
and
local
banks.
K
It's
one
of
the
things
that
the
city
tries
to
do.
We
try
to
be
absolutely
transparent,
but
we
also
try
and
embrace
using
our
our
banking
wallet,
our
banking
business
for
all
of
the
banks,
including
local
banks,
we're
very
committed
to
that.
K
B
So
doug,
thank
you.
So
the
bands
are
kind
of
I
mean
you
know
for
for
people
norm.
It's
like
a
construction
loan
right.
You
draw
it
down
as
you're
doing
construction,
and
then
you
roll
it
into
a
a.
K
K
I
guess
one
point
on
that
is,
for
example,
the
north
fork
dam.
The
water
department
had
a
very
strong
handle
on
how
much
it
was
going
to
spend
and
when
it
was
going
to
spend
it,
it's
not
that,
but
there
are
certain
times
where
weather
or
other
things
may
play
a
factor
and
push
out
when
certain
activities,
construction
or
otherwise
can
happen.
And
it's
when
those
things
happen
that
you
can
say
well,
I've
got
this
debt
facility
in
place.
I
don't
need
to
draw
down
right
now.
I
can
actually
draw
down
later.
E
Yeah-
and
you
know
one
of
the
advantages.
Obviously,
if
you
use
the
the
bands
or
the
construction
loans,
it
really
does
allow
you
to
save
on
your
long-term
debt
costs
over
time,
and
I
remember
back
when
I
first
started
local
government
20
plus
years
ago.
If
we
were
doing
the
norfolk
north
fork
dam
project,
then
we
would
have
taken
out
the
full
40
million
debt
at
the
beginning
of
the
project,
and
so
you
would
have
been
paying
principal
and
interest
from
day
one
on
that
project.
F
I
have
a
question
I
want
to.
I
hope
I
understood
this
right
so
with
some
of
those
geo
bonds
that
were
tied
to
say,
transportation,
the
useful
life
is,
I
can
understand,
and
has
a
longer
term
what
what
is
the
useful
life
for
us
when
we
look
at
like
the
affordable
housing
bonds
over
what
term
does
that
get
assigned?
I
guess
I'm
trying
to
figure
out
if
how
much
of
the
property
tax
increased
revenue,
how
long
it
takes
to
pay
off
that
bond?
What's
the
useful
life
of
affordable
housing.
K
It's
a
good
question.
I
guess
my
initial
thought
is
for
affordable
housing.
A
lot
of
that
housing
is,
is
being
set
up
or
they're
they're
they're,
using
developers
for
the
long
term,
in
other
words,
to
provide
this
useful
or
this
affordable
housing,
not
just
for
the
next
five
years,
but
hopefully
for
the
next
10
or
even
20
years
now.
I
know
economic
development
has
to
negotiate
that
with
developers,
so
I
couldn't
say
for
certain
that
it's
always
kind
of
a
20-year
type
of
thing.
K
It's
very
interesting
because
I
think
that
becomes
a
little
bit
more
theoretical
rather
than
kind
of
okay.
I've
got
this
vehicle,
but
it's
a
it's
a
great
point.
I
would
think
we're
kind
of
we're,
certainly
going
after
that
objective
of
of
matching
matching
the
useful
life,
but
maybe
here
and
there
especially
with
affordable
housing.
It's
not
kind
of
as
clear-cut.
K
You
are
kind
of
then
opening
yourself
up
to
additional
debt
kind
of
as
you're
paying
off
one
and
if
you're
wanting
to
maintain
a
certain
debt
level
or
debt
ratios,
you
are
giving
yourself,
then
the
flexibility
or
this
ability
to
then
take
on
additional
debt
kind
of
a
rolling
type
of
concept.
E
E
North
carolina
do
utilize
that
and
the
reason
they're
able
to
do
that
is
because
they've
had
a
very
active
geo
bond
program
over
the
years
and
that's
one
of
the
things
that
kind
of
hurts
us
here
in
asheville,
and
I
think
we've
talked
to
you
all
some
about
this
before
prior
to
this
2016
geo
bond,
it
passed
it
was
about
30
years
or
so
that
we
had
the
previous
geo
bond
to
the
past.
E
The
last
one
before
that,
and
so
we
don't
have
a
whole
lot
of
geo
bond
debt
out
there
right
now.
That's
active
that
we're
paying
off
that.
We
could
then
utilize
to
reissue
some
other
cities,
charlotte
raleigh.
Some
of
the
other
larger
cities
who
have
active
geo
bond
programs
have
that
money
out
there
that
they
can
kind
of
continually
recycle
through
their
debt
program,
but
maybe
we'll
get
there
someday.
F
It
does
I
just
I
have
one
more
and
it's
just
my
finance
brain
in
the
weeds,
so
I
really
want
to
understand
so
when
we
adopted
when
we
voted
to
approve
these
bonds
and
things,
then
we
started,
we
increased
the
property
tax.
Then
we
started
collecting
the
tax,
but
we
didn't
utilize
all
the
bonds
right
away.
So
what
happens?
F
E
Think
so,
and
then
I'll
try
to
take
a
stab
at
this,
and
this
kind
of
goes
back
to
one
of
the
first
slides
that
doug
talked
through
the
the
the
multi-year
planning
that
we
do
with
our
financial
consultants.
E
That's
one
of
the
things
that
they
really
helped
us
when
we
did
the
geo
bond
and
we
were
looking
at
how
much
that
was
going
to
mean,
in
terms
of
a
tax
rate,
increase
the
three
and
a
half
cents
that
we
landed
at.
They
modeled
that
out
over
30
years
to
see
how
that
additional
debt
for
the
geo
bonds
kind
of
layered
in
with
all
of
our
existing
debt,
and
when
we
were
going
to
pay
it
off.
E
They
also
build
into
their
model
an
assumption
of
two
percent
increase
every
year
in
the
property
tax
revenue.
And
so
they
put
all
those
numbers
in
a
model
and
and
as
we
move
through
the
the
next
few
months.
And
if
we
do
a
capital
improvement
program,
kind
of
update
with
you
all
we'll
definitely
be
kind
of
definitely
showing
you
all
that
model
and
how
the
debt
and
the
capital
all
kind
of
tie
together
over
that.
But
I
think
kind
of
the
simple
answer
to
your
question.
Councilmember
turner
is
yes.
E
K
Thank
you
very
much.
That's
really
nice
feedback,
thank
you
and,
if
I
may
just
offer,
if,
if
any
other
questions
come
up,
we
did
kind
of
go
through
a
lot
of
detail.
I'd
be
more
than
happy
to
answer
any
other
questions.
B
Thank
you.
Thank
you
very
much
all
right.
So
the
next
item
is
public
comments.
We
did
not
receive
any
comments
prior
to
the
meeting,
so
I
will
go
ahead
and
open
it
up
to
public
comment.