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From YouTube: August 25, 2014 Ways & Means Committee Meeting
Description
Minneapolis Ways & Means Committee Meeting
A
All
right
I'm
going
to
call
to
order
this
regularly
scheduled
meeting
of
the
Ways
and
Means
Committee
I'm
John
Quincy
committee,
chair
and
joined
by
a
council
member
yang
mice,
president
glidden
and
council
member
Andrew
Johnson.
So
we
are
a
quorum
of
the
committee
and
continue
to
do
the
city's
work.
A
We've
got
a
number
of
items
on
the
consent
agenda.
They
include
a
suit,
see
several
legal
settlements.
A
conflict
of
interest
waiver
for
legal
services
representing
with
Dorsey
Whitney
communications
department,
is
bringing
forward
the
acceptance
of
a
donation
for
audio
video
equipment
and,
let's
see
the
convention
center,
is
bringing
forward
their
authorizing
the
low
bid
and
acceptance
of
a
contract
with
more
con
construction
for
waste
recycling
project
information
technology
departments
bringing
forward
several
items.
A
The
first
is
the
a
Minneapolis
Police
Department
records
management
system,
a
request
for
RFP
issuance
there's
the
public
safety
camera
installation,
a
ten-year
contract
with
Xcel,
Energy
and
I.
Think
I'm
going
to
change
the
action
from
the
committee
today
to
be
postponing
this
one
cycle,
but
it
will
allow
some
comment.
I
know,
Andrew,
councilmember
Johnson
would
like
to
make
a
comment
on
that.
A
Let's
see
the
technology
conference
donations,
acceptance
of
gifts
following
organizations
for
several
technology
conference
participation
and
then
finance
and
property
services
is
bringing
forward
the
second
quarter,
gift
acceptance,
a
investment
management
services
agreements
and
again
we're
going
to
have
I'm
going
to
pull
that
one.
Just
for
a
brief
discussion
about
the
the
process
in
that
before
we
vote
on
the
consent
agenda,
as
well
as
a
financial
status
report.
A
This
is
the
second
quarter
of
2014
update
it's
a
receive
and
file
item,
but
then
we'll
be
having
a
quick
presentation
from
miss
Griffith
on
that
nuisance,
property,
grass,
cutting
and
related
services
and
amendment
to
a
contract
with
Hennepin
County
for
a
sentence
to
serve
to
provide
property,
nuisance,
property
grass,
cutting
services,
Metropolitan,
Council,
transit,
oriented
development,
site
investigation,
grant
program
and
pre
development
grant
program.
Accepting
and
appropriating
those
environmental
grant
awards.
A
The
health
enter
environment
and
community
engagement
committee
is
bringing
forward
an
amendment
to
a
contract
with
the
minnesota
department
of
health
related
to
the
maternal
and
child
home
care
visit,
visiting
program,
public
safety,
civil
rights
and
Emergency
Management
say
a
redistribution.
Let's
see
this
accepting
reimbursement
program
for
Minnesota
Board
of
firefighter
training
and
education,
2014
emergency
management
performance
grant
acceptance
of
that
grant
award
health
club
memberships.
This
is
approving
the
issuance
of
a
new
RFP
for
minneapolis
police
fire
and
park
board
police
departments
with
health
club
memberships.
A
Public
Works
Committee
is
bringing
forward
the
acceptance
of
a
low
bid
for
global
specialty
contractors
for
the
bridge,
9
rehab
project
and
authorizing
the
city's
payment
to
the
from
the
Public
Works
operating
budget
for
participation
in
the
north
lights,
express
joint
powers
board,
and
the
final
item
is
John
not
turning
over
the
page
and
realizing.
That
is
the
last
item.
So,
if
I
could,
let's
see
if
we
can
have
a
comment
from
councilmember
Johnson
on
item
number?
Seven
and
followed
by
the
investment
managed
services,
so
councilmember
Johnson
Thank.
B
You
mr.
chair,
yes,
this
is
a
exciting
development
related
to
item
number
66
I
spoke
with
Xcel
Energy
and
they
had
expressed
interest
and
willingness
to
work
with
us
on
public
safety
cameras
to
help
fight
gun
violence
and
assist
prosecutors
and
seeking
justice
for
victims
of
gun
violence.
So
hopefully,
on
next
council
cycle,
we
will
have
an
agreement
in
place
with
them.
Thank.
A
C
Afternoon
committee,
chair
Quincy
and
council
members
just
want
to
give
you
a
brief
overview
of
the
process.
We
went
through
to
select
the
five
managers
we
have
today.
Actually
we
have
seven
today
and
we're
recommending
to
go
down
to
five
starting
october
first,
when
the
contracts
expire,
so
we
put
out
an
RFP,
we
receive
19
responses
to
that
RFP.
On
july
25th,
we
established
our
evaluation
committee
made
up
of
finance
team
members
in
the
treasury
and
finance
team
and
including
our
investment
management
consultant
l
wouldn't
associates.
C
Who
has
been
our
investment
consultant
for
five
years
in
this
year.
When
we
went
through
this
process
five
years
ago,
we
had
Elwood
and
the
city
put
together
a
spreadsheet
to
look
at
the
19
responses
we
had.
L
would
take
the
first
cut
of
evaluating
the
RFP
responses
with
the
criteria
set
forth
in
the
RFP.
There
were
five
things
we
laid
out
in
the
RFP
that
were
important
to
the
city.
C
First
was
understanding
the
city
of
Minneapolis
investment
program
and
objectives
was
the
experience,
resources
and
qualifications
of
the
firm
and
the
individuals
assigned
to
the
account.
Third
was
an
experience
of
the
firm
in
managing
government
funds,
since
we
invest
almost
hundred
percent
and
government
securities
evaluating
the
firm's
experience.
Past
performance
data
was
considered
in
the
context
of
the
portfolio
objectives
and
constraints,
as
well
as
the
risks
that
they
took
to
get
those
returns.
C
New,
we
want
to
understand
how
they
were
going
to
approach
our
investment
portfolio
and
with
the
new
policy
that
we
have
approved
at
this
committee
in
it
at
the
city
here
just
a
couple
months
ago,
that
will
be
effective,
also
October,
first
with
the
new
contracts
and
then
finally,
the
cost
of
services.
In
addition,
Elle
would
used
sohn
investment
manager,
research
criteria
to
develop
the
RFPs.
They
have
an
extensive
database.
They
do
this
for
a
living.
We
wanted
to
tap
into
that.
Outside
of
these
criteria.
C
The
committee
asked
Elwood
to
also
focus
on
what
are
the
core
competencies.
These
firms
would
bring
in
whether
or
not
they
were
aligned
with
the
city
goals
that
we
discussed
in
the
policy
as
well
as
the
RFP.
There
was
a
preference
for
local
investment
managers
for
two
reasons:
one
the
synergies
of
having
somebody
nearby.
They
can
help
us
if
we
should
have
any
questions
and
two,
as
you
recall,
its
lined
out
as
a
preference
in
our
investment
policy
as
well.
C
At
this
point,
we
eliminated
the
pack
down
to
10
managers
for
consideration,
for
a
variety
of
reasons.
We
decided
to
interview
just
the
new
candidates
from
that
list,
since
we
already
had
experience
with
the
existing
ones
that
were
recommended
at
that
point,
and
then
we
did
a
interview
process
with
those
new
investment
managers.
We
call
that
list
out
of
the
five
that
we've
recommended
to
present
to
you
here
today.
Also
thank.
A
A
A
Okay,
let's
go
ahead
and
I'll
move
the
consent
items
with
the
change
of
item
number
six
being
postponed
one
cycle
and
we're
going
to
come
back
and
do
the
financial
statuses
report
as
a
presentation
real
quickly,
but
with
all
other
items
on
those
actions.
Are
there
any
other
questions
on
those
consent
items?
Okay,
all
those
in
favor,
please
say
aye
opposed
and
those
items
are
moving
forward.
So
let's
go
to
the
next
and
final
item
of
the
agenda,
which
is
just
a
financial
status
report.
A
Typically,
it's
just
a
receive
and
file
paper
version,
but
given
the
fact
that
we're
in
the
beginnings
of
a
big
budget
conversation
and
it's
important
for
everybody
to
understand
where
we're
sitting
at
the
half
of
the
year,
going
by
I'm
continuing
to
fill
some
time,
Oh,
miss
Griffith
gets
the
presentation
up
there.
Good,
that's
fine
must.
E
E
A
E
And
my
name
is
connie
griffith,
and
I
am
the
controller
for
the
city
members
of
the
committee
and
councilmember
quincy
members
of
the
committee.
What
I
wanted
to
do
today
was
just
go
through
very
briefly
kanya.
What
the
process
is.
We
meet
monthly
finance
staff
meet
monthly
with
all
of
the
departments
that
includes
the
department
head
and
their
staff,
their
finance
staff,
about
their
budget,
about
the
actual
expenditures
and
revenues
to
Dave
and
doing
some
analysis
and
projecting
to
the
end
of
the
year.
At
the
end
of
the
second
quarter.
E
We
then
do
a
start,
our
quarterly
reports
to
council.
This
is
where
we
provide
more
detail
in
all
of
the
funds
that
are
of
significance
in
the
general
fund,
the
special
revenue
fund,
the
internal
service
fund
that
the
and
the
enterprise
funds,
and
then
we
also
included
in
that
at
the
end,
a
little
summary
report
on
our
investments
at
that
point
in
time.
The
interesting
thing
about
the
second
quarter.
E
E
The
important
thing
is
for
all
of
you
to
be
looking
at
these
reports,
as
we
do
them
too,
because
you
will
start
learning
how
the
funds
work,
what
the
what
is
expected
in
each
of
the
funds,
and
certainly
if
there
are
any
concerns
or
any
changes
that
we're
anticipating
that
may
not
have
been
anticipated
in
the
budget
process.
We
would
be
bringing
those
to
your
attention
in
that
report,
so
this
is
kind
of
what
we
wanted
to
show.
E
You
as
we
go
through
the
process,
and
then
last
year
we
presented
right
at
the
beginning
of
2014
to
all
of
you,
the
year-end
report,
the
year-end
report
was
based
on
the
numbers
we
had
at
that
point
in
time.
We
then
finally
close
out
the
year
with
our
comprehensive
annual
financial
report,
which
is
our
annual
report,
the
kafir
that
is
the
more
formal
document
that
we
have
audited
and
that
type
of
thing.
E
So
all
of
these
need
to
be
working
together,
and
you
need
to
be
using
those
to
get
the
information
you
need
on
the
different
funds
and
the
different
activities
of
the
city,
and
that's
really
all
I
wanted
to
present.
This
leads
into
right
now.
What
we're
working
on
is
the
2015
budget,
and
ms
christensen
would
like
just
become
that
christmas
in.
A
D
Afternoon,
chair
Quincy
and
members
of
the
committee
I
wanted
to
take
just
a
minute
to
segue
from
ms
Griffiths
second
quarter
report
for
2014
into
the
upcoming
2015
budget
process.
I
know
that
many
folks
are
anxiously
awaiting
the
arrival
of
the
extremely
large
and
cumbersome
budget
book
staff
and
finances
diligently
working
on
completing
that
and
should
have
that
available
to
you
and
the
other
members
of
the
council
by
the
end
of
this
week.
D
I
did
want
to
also
remind
everyone
that
we
have
at
this
point
scheduled
the
budget
hearings
for
the
2015
deliberations
and
the
individual
department.
Presentations
with
the
first
presentation
will
be
held
on
the
September
eighth,
which
will
give
a
detailed
overview
of
the
overall
operating
and
capital
budget,
as
well
as
the
city's
outlook
for
the
debt
budget
for
15
and
beyond.
So
that
will
be
forthcoming
and
wanted
to
give
everyone
notice
in
advance
great.
B
You
mr.
chair
just
a
question
on
that:
would
it
be
possible
to
get
excel
files
of
the
budget
as
well?
Obviously,
it's
in
a
presentation
form,
but
just
get
them
out
there,
so
that
programmers
and
developers
can
also
help
digest
the
budget
and
show
interesting
ways
of
visualizing
that
helped
make
it
easier
for
us
to
understand
some
of
the
proposed
changes
chair.
D
Quincy
council,
member
of
Johnson,
we
will
endeavour
to
provided
in
the
most
usable
format.
However,
the
system
that
we're
using
doesn't
necessarily
easily
easily
translate
into
Excel,
so
I
wouldn't
foresee
it
would
be
available
immediately,
but
we
can
certainly
work
on
alternate
mechanisms
to
provide
that
information
to
make
it
more
usable,
great.
B
A
D
Indeed,
chair
Quincy,
the
some
of
the
challenges
that
we
run
into
in
supplying
the
information
in
that
manner
is
that
the
departmental
programs
change
from
year
to
year,
so
an
apples-to-apples
comparison
of
what
was
being
a
composter
accommodated
in
one
annual
budget
compared
to
a
subsequent
year
or
even
prior
years,
can
be
a
little
bit
difficult
to
have
a
direct
line
of
sight.
Thank.
A
You
are
there
any
other
questions
for
Miss
Christensen
or
miss
Griffith
on
the
second
quarter
report.
Great.
Thank
you
very
much.
Are
there
any
pending
items
that
I
forgot
to
call
for
a
vote
for
that
we
need
or
I
guess
it's
a
receive
and
file
on
the
second
quarter
report.
Let
me
do
that
all
those
in
favor,
please
say:
aye,
okay,
so
that
passes
and
I
think
our
business
is
completed.
So
we
are
adjourned.
Thank
you.