* This transcript was created by voice-to-text technology. The transcript has not been edited for errors or omissions, it is for reference only and is not the official minutes of the meeting. [00:00:02] UH, WE'RE NOW CALLING [CALL TO ORDER ] TO ORDER. UH, COULD WE GET THE ROLL CALL, PLEASE? OKAY. IT'S 2 0 3. COMMISSIONER MCNABB. COMMISSIONER DIAZ PRESENT. COMMISSIONER BYRD PRESENT. COMMISSIONER CURRY PRESENT. COMMISSIONER DWYER. PRESENT. COMMISSIONER GONZALEZ. PRESENT. COMMISSIONER LIBEL. COMMISSIONER COURT. COMMISSIONER WRIGHT. COMMISSIONER RODRIGUEZ. SORRY. WENT OUTTA ORDER HERE. COMMISSIONER STANLEY? HERE. COMMISSIONER WRIGHT. ARE YOU WITH US? OKAY. COMMISSIONER WRIGHT, CAN YOU HEAR US ON MY SIDE? OKAY. HE NEEDS TO COMMISSIONER WRIGHT, CAN YOU PLEASE UNMUTE IF YOU CAN HEAR US OKAY. MAYBE HE HAD TO REJOIN. TRYING TO GET BACK IN. POP BACK IN. OKAY. I'M READY. QUIET HERE. OKAY. CAN YOU HEAR US? COMMISSIONER WRIGHT? OH, CAN YOU HEAR ME NOW? YES. OKAY. WANTED TO CONFIRM YOUR ATTENDANCE. I'M SO SORRY. NO WORRIES. MY APOLOGIES. OKAY. AND JUST A FRIENDLY REMINDER, UM, TO THOSE WHO ARE ATTENDING ONLINE, WHEN WE, UH, TAKE A VOTE, ET CETERA, IF YOU COULD JUST PLEASE TURN YOUR CAMERAS ON. THANK YOU. OKAY. UH, NOW FOLLOW ON TO, UH, PUBLIC COMMUNICATIONS. DO WE HAVE ANYBODY SIGNED IN? NO. PUBLIC COMMUNICATION. OKAY. NO PUBLIC COMMUNICATIONS. OKAY. NEXT. [1. Approve the minutes of the Bond Oversight Commission Regular meeting on April 20, 2026. ] UH, YEAH, I'LL APPROVE OF THE MINUTES. UH, I WILL, UM, I ENTERTAIN A MOTION TO APPROVE THE MINUTES. SO, SO MOVED. OKAY. I WASN'T HERE OTHERWISE. YEAH, CAN, CAN I, CAN I MAKE THE MOTION OR CAN I, IF, IF I WASN'T IN INTENDANCE EITHER? YEAH. YEAH. JUST AS LONG AS YOU READ 'EM AND YOU DON'T HAVE ANY, YEAH. OKAY. SO MOVED. DO WE HAVE A SECOND? SECOND. OKAY. ALRIGHT. YEAH, ALL THOSE IN FAVOR, PLEASE RAISE YOUR HAND. OKAY. THOSE WISHING TO ABSTAIN. DID YOU WANNA ABSTAIN COMMISSIONER BYRD FROM SURE. OKAY. UH, LOOKS LIKE THE VOTE CARRIES. OKAY. THANK YOU. NEXT, [2. Discussion on the 2026 Bond Election Advisory Task Force recent meeting items. ] ON THE NEXT DISCUSSION ITEM, WE HAVE THE, UH, DISCUSSION ON THE 2026 BOND ELECTION ADVISORY TASK FORCE, UH, MEETING. DO WE HAVE, UH, UPDATES FROM THAT? YEAH, IT'S, I SEE TWO OF MY FELLOW B TIFF F MEMBERS, UH, UH, OR I GUESS FORMER FELLOW B TIFF F MEMBERS NOW THAT THE, WE'VE BEEN OFFICIALLY DISSOLVED. BUT, UM, UH, UH, YEAH, I, A COUPLE WEEKS AGO WE, WE HAD OUR FINAL, UM, MEETING AS A-B-T-I-F WHERE WE ISSUED RECOMMENDATION TO COUNSEL. UH, UH, THERE WERE SORT OF TWO PACKAGES, GENERALLY SPEAKING. UH, I'M GONNA, UH, MIGHT, WE WILL MISREMEMBER THE EXACT NUMBERS AND PROPORTIONS THAT WE GOT TO, SO MAYBE I'LL DEFER TO, UM, UH, UH, OTHER FOLKS WHO, WHO MIGHT HAVE THOSE NUMBERS FRESH IN THEIR HEAD. BUT ROUGHLY $750 MILLION BOND PACKAGE, AND THEN A ROUGHLY, UM, $450 MILLION BOND PACKAGE, SOMEWHERE IN THERE, UH, TO, UM, UH, ONE SORT OF BEING THE MAIN RECOMMENDATION. THE SECOND BEING, UH, WHAT I'D CALL THE SUB QUORUM, UH, RECOMMENDATION OR, UH, I THINK WHAT STAFF IS CALLING ALTERNATIVE SCENARIOS. UM, UH, AND, UM, UM, YOU KNOW, UH, UH, IT WAS A COMPREHENSIVE PROCESS. WE HAD A LOT OF DISCUSSION. UM, UH, THAT'S THE HIGH LEVEL SORT OF KEY POINTS. UM, AND MAYBE [00:05:01] I'LL JUST DEFER TO GIVE CHARLES AND JD A CHANCE TO PIPE IN IF THERE'S ANYTHING SPECIFIC THAT THEY WANNA TOUCH ON. SO WE DID, UM, ALSO ADOPT A NUMBER OF, UH, POLICY RECOMMENDATIONS, SOME OF WHICH, UM, MAY BEAR THE FUTURE WORK OF THIS GROUP. I'LL SEE IF I CAN PULL THEM UP. THEY DON'T HAVE IT IN FRONT OF ME. UM, OR MAYBE CHARLES, YOU REMEMBER. UM, I ALSO WANTED TO NOTE THAT, UM, COUNSEL, UH, TALKED ABOUT THIS ISSUE AT A WORKING SESSION YESTERDAY, AND, UM, APPARENTLY STAFF HAVE BEEN RECOMMENDING THAT THIS IS JUST BASED ON THE MEDIA COVERED, IT DIDN'T HEAR THE ACTUAL, UM, DISCUSSION, BUT THEY'RE PROPOSING HOLDING OFF ON A BOND ELECTION UNTIL 2028, UM, WHICH HAD BEEN WORKED ON THIS FOR SO LONG AND PERSONALLY NOT IN FAVOR OF, BUT, UM, YOU KNOW, THAT WOULD DRAMATICALLY AFFECT SORT OF WHAT WAS, WHAT WAS ON THE TABLE AND HOW BIG THE NEEDS ARE. UM, AND SO COUNCIL NEEDS TO NOW DECIDE WITHIN THE NEXT MONTH OR SO, WHETHER THEY GO FORWARD WITH THE, THE LARGE PACKAGE WE RECOMMENDED OR SOME VERSION OF IT, A SMALL PACKAGE OR SOME VERSION OF IT, OR NOTHING AT ALL, UM, WHICH WOULD BE APPARENTLY STAS, UH, RECOMMENDATION. YEAH, I'LL, I'LL JUST FILL IN THE, THE EXACT NUMBERS. THE, THE BIG PACKAGE, THE RECOMMENDATION FROM THE BTF WAS 766 MILLION, AND THEY, UM, I'LL PUT THIS IN QUOTATION MARKS. SMALL PACKAGE WAS, UH, 436 MILLION. AS KENNY HAS EXPLAINED, THAT SMALL PACKAGE WAS DONE IN RESPONSE TO, UH, A REQUEST FROM A SIDE QUORUM OF COUNSEL. UM, THAT ALSO INCLUDED SUGGESTIONS AS TO WHAT THE SMALL PACKAGE WOULD INCLUDE, WHICH WAS PRIMARILY PARKS AND RECREATION. DO WE HAVE ANY, UH, QUESTIONS? THANK YOU. THANK YOU VERY MUCH. AND, UH, YEAH, [3. Approve a recommendation to Council for a Spending Plan. ] NEXT ON, ON THE AGENDA IS, UH, THE APPROVING OF THE RECOMMENDATION FOR TWO COUNCIL FOR A SPENDING PLAN. CHARLES, WOULD YOU LIKE FOR ME TO BRING UP THE DRAFT? UM, FIRST OR THE SPENDING PLAN DOCUMENT? I'D LIKE TO TALK ABOUT THE, THE, UH, SPENDING PLAN DOCUMENT. OKAY. FIRST, SO THAT I'M NOT SURE, UM, THAT EVERYBODY HAS BEEN ABLE TO, I HAD DIFFICULTY FINDING THE DOCUMENT ITSELF ON THE, UM, CITY'S REVISED WEBSITE, BUT THIS IS A DOCUMENT THAT COMES, THIS PARTICULAR PAGE COMES FROM THE FOURTH QUARTER, OUR YEAR END FISCAL YEAR 2025, UH, FINANCIAL REPORT. UM, BUDGET MAKES A QUARTERLY REPORT TO COUNCIL, UM, EVERY YEAR. AND THAT, UM, REPORT CONTAINS A, A GREAT DEAL OF INFORMATION. UH, THIS IS THE INFORMATION, UH, THAT I THINK IS MOST PERTINENT FOR THE BOND OVERSIGHT COMMISSION. WE TALKED ABOUT THIS EARLIER, BUT I WANTED TO, TO PUT THE SPENDING PLAN UP. THE, WHAT THIS PAGE SHOWS IS WHAT WAS APPROVED BY COUNSEL. UM, BE BEFORE THE BEGINNING OF THE 2025 FISCAL YEAR AS A, UH, SPENDING PLAN FOR, UH, ALL DEPARTMENTS. UM, I'LL TALK A LITTLE BIT ABOUT WHAT ALL DEPARTMENTS INCLUDE, BUT THE IDEA OF THE SPENDING PLAN, THE CAPITAL IMPROVEMENT PLAN SPENDING PLAN IS THAT THIS SPENDING PLAN, IF FOLLOWED, UH, LAYS OUT A WAY THAT DEPARTMENTS, THAT THE CITY AS A WHOLE WOULD COMPLETE THE, UH, SPENDING OF THE BONDS AND THE PROJECTS THAT WERE APPROVED IN THE BONDS WITHIN THE TIME PERIOD, UM, THAT WAS INTENDED. AND THEREFORE, WHEN THE SPENDING PLAN IS, UH, NOT FOLLOWED, UH, THAT'S AN INDICATION, UH, AT LEAST IN MY OPINION, THAT'S AN INDICATION THAT WE'RE GONNA BE RUNNING INTO TROUBLE, AS WE DID, AS WE ARE RIGHT NOW [00:10:01] WITH AN ACCUMULATION OF AUTHORIZED, BUT UNISSUED BONDS AND PROJECTS THAT ARE BEHIND. TO MY KNOWLEDGE, THIS IS THE FIRST TIME I'VE SEEN A REPORT THAT ACTUALLY, UM, TELLS THE PUB, TELLS THE PUBLIC TELLS ABOUT OVERSIGHT COMMISSION, SPECIFICALLY WHAT WAS SPENT EACH YEAR, UH, IN COMPARISON TO THE SPENDING PLAN. WHAT THE BOND OVERSIGHT COMMISSION HAS BEEN OPERATING OFF OF FOR SEVERAL YEARS IS PRESENTATIONS FROM DEPARTMENTS WHERE THEY HAVE SHOWN US, UH, AN ESTIMATED SPENDING PLAN. AND AS WE KNOW FROM EXPERIENCE, UH, A NUMBER OF THOSE SPENDING PLANS THAT THEY SHOWED US, UH, TURNED OUT NOT TO BE, UM, THE ACTUAL DID NOT MATCH THE ESTIMATE. BUT ONE OF THE THINGS THAT I DON'T THINK WE'VE GOTTEN IN THE PAST IS WHAT ACTUAL, UH, WAS. SO THIS IS A SOURCE OF INFORMATION THAT'S BEEN RECENTLY ADDED TO THE FINANCIAL REPORT. I THINK IT'S VERY USEFUL TO US. I THINK IT'S A GREAT ADDITION FROM THE BUDGET OFFICE THAT I REALLY HOPE THAT THEY WILL CONTINUE TO DO. AND ON A QUARTERLY BASIS, MY UNDERSTANDING IS THAT WHAT THEY WOULD SHOW INSTEAD OF THE YEAR TO DATE, UH, THE, WHAT THEY WOULD SHOW IS THE YEAR TO DATE SPENDING AS, WHICH WOULDN'T BE THE FINAL SPENDING FOR THE YEAR. UM, WHAT I THINK WOULD BE HELPFUL, AND SOMETHING THAT WE MIGHT DISCUSS WITH THE BUDGET OFFICE, THIS PAGE WOULD BE MORE USEFUL FOR OUR PURPOSES IF IT SEPARATED THE DEPARTMENTS USING PUBLIC IMPROVEMENT BONDS, WHICH ARE THE FOCUS OF THE BOND OVERSIGHT COMMISSION. WHAT I DID IN LOOKING AT THIS WAS TO GO THROUGH THE DEPARTMENTS AND BASED ON, YOU KNOW, MY EXPERIENCE WITH WORKING WITH THE CITY TOOK A GUESS, UH, AT WHICH DEPARTMENTS WERE USING PUBLIC IMPROVEMENT BONDS, IN WHICH DEPARTMENTS ARE USING REVENUE BONDS, SUCH THE ONES USING REVENUE BONDS WERE OF COURSE, OF THE ENTERPRISE DEPARTMENTS, CONVENTION CENTER, ENERGY, WATER, ET CETERA. UM, BUT IF, IF THE PUBLIC IMPROVEMENT BOND, UH, DEPARTMENTS WERE SEPARATED OUT, THAT WOULD GIVE US A CLEARER PICTURE OF WHICH OF THE, WHICH PUBLIC IMPROVEMENT BOND ISSUES, UH, WERE FALLING BEHIND IN THEIR SPENDING. UH, JUST BEFORE WE GO ON TO THE RESOLUTION, DOES, UH, ANYBODY HAVE ANY QUESTIONS ABOUT THE, THE DOCUMENT THAT'S UP ON THE SCREEN? I HAVE A QUESTION. I THINK IT'S STILL FROM LAST WEEK, UH, OR LOT LAST MONTH RATHER. WHEN WE HAD GONE OVER THIS BRIEFLY, UM, JUST ONE LINE ITEM, THE FINANCIAL SERVICES, DO WE KNOW IF WE'VE GOTTEN ANY CLARIFICATION AS TO IF THAT IS A MISSTATEMENT OR IF THAT IF THEY DID IN FACT SPEND, UH, 986% OF THE LOTTED AMOUNT? UH, IT IS NOT A MISSTATEMENT, BUT I DON'T, I CAN'T ANSWER SPECIFICALLY. I'M FAIRLY SURE THAT THAT WAS CONTRACTUAL OBLIGATIONS THAT WERE AUTHORIZED DURING THE YEAR AND WERE NOT A PART OF THE SPENDING PLAN. UH, AND THAT, BUT I CAN'T TELL YOU EXACTLY WHAT THOSE WERE FOR, BUT THAT'S THE REASON THAT I EXCLUDED FINANCIAL SERVICES FROM THE, FROM THE COMPARISON AND FROM THE TOTALS THAT I USED, YOU KNOW, GIVEN CHARLES OR COMMISSIONER CURRY THAT YOU JUST SAID, THAT, UH, THIS IS THE FIRST THAT WE'VE SEEN THIS A, A DOCUMENT LIKE THIS. UH, I MEAN, WOULD THIS BE OUT OF ORDER FOR, YOU KNOW, IF WE WERE TO LOOK BACK, SAY FIVE YEARS, 10 YEARS, WHAT, WHAT COULD DO YOU, DO YOU HAVE ANY CLUE WHAT FINANCIAL SERVICES COULD BE SPENDING, YOU KNOW, $184 MILLION ON? WELL, WE CAN ASK THAT QUESTION SPECIFICALLY. YEAH. YEAH. I, AND I CAN, I'D BE GLAD TO FOLLOW UP WITH FINANCIAL SERVICES AND, AND CLARIFY IT. UM, I DID ASK SOME OTHER QUESTIONS AND JUST FAILED TO, FAILED TO ASK THEM ABOUT, UH, THAT PARTICULAR THING. BUT I CAN FOLLOW UP AND DO THAT. [00:15:01] GREAT. HOW DO THESE BEHIND, BEHIND THIS, UH, THERE IS A CIP PLAN MM-HMM . THAT IS IN A LOT MORE DETAIL THAT YOU COULD DIVE INTO AND FIND OUT, UM, YOU KNOW, WHAT MAKES UP THOSE PROJECTS THAT ARE INCLUDED IN THEIR, UH, SPENDING FOR THIS YEAR, WHAT THE SOURCES OF FUNDING ARE, AND IT, IT, WHEN WE GET TO THE RESOLUTION, YOU'LL SEE THAT I'VE ADDED A COUPLE OF NOTES AT THE BOTTOM, BECAUSE EVEN THOUGH, UM, LET'S SAY PARKS AND RECREATION, UM, AS THE GENERAL FUND DEPARTMENT, THEY PRIMARILY DEPEND ON PUBLIC IMPROVEMENT BONDS FOR THEIR CAPITAL IMPROVEMENT PLAN. BUT THEY MAY HAVE SOME, YOU KNOW, FAIRLY MINOR OTHER SOURCES OF REVENUE BESIDES PUBLIC IMPROVEMENT BONDS, OR AS IN THIS CASE, THERE ARE OTHER FI THERE ARE OTHER TYPES OF DEBT BESIDES GENERAL OBLIGATION BONDS, PUBLIC IMPROVEMENT BONDS, AND THOSE ARE INCLUDED, UM, IN THE CIP. SO I HOPE THAT ANSWERED THE QUESTION. DO WE HAVE ANY INSIGHT AS TO HOW THESE ACTUALS IMPACT THE, THE REMAINDER OF THE BUDGET, UH, LIKE THE ECONOMIC DEVELOPMENT DEPARTMENT IS A GOOD EXAMPLE? ARE, ARE THEY, IS THEIR BUDGET GONE? UM, WAS THAT CONSUMED BY OTHER DEPARTMENTS? HOW, HOW ARE THEY IMPACTED FOR THE REST OF THE YEAR? UM, TELL, I'M NOT UNDERSTANDING YOUR QUESTION. TELL ME MORE. YEAH, SO THEY'RE COMING SIGNIFICANTLY UNDER THEIR SPENDING PLAN. YES. UM, BUT IT LOOKS LIKE OTHER DEPARTMENTS HAVE CONSUMED MORE THAN THEIR ALLOTTED BUDGET. SO I'M WONDERING HOW THAT IMPACTS, UH, DEPARTMENTS LIKE THE ECONOMIC DEVELOPMENT DEPARTMENT FOR THE REST OF THEIR, THEIR SPENDING PERIOD. IS THAT BUDGET GONE? NO, NO. THE, THE BOND PROPOSITIONS ARE SPECIFIC AND, UM, SO I DON'T KNOW WHETHER ECONOMIC DEVELOPMENT HAS, UH, PUBLIC IMPROVEMENT BONDS THAT THEY'RE, THAT THEY'RE CHARGED WITH THOSE PROJECTS, BUT THE BOND PROPOSITION SET OUT, UH, A CERTAIN AMOUNT OF MONEY OR CERTAIN PROJECTS, AND IF DEPARTMENT B OVERSPENDS ON THEIR CAPITAL IMPROVEMENT PROJECTS, THEY CAN'T BORROW MONEY FROM ANOTHER BOND PROPOSITION. UM, THEY CAN GET MONEY FROM OTHER SOURCES, BUT THEY CAN'T, THEY CAN'T DEPLETE, UM, THE ANOTHER PROPOSITION, SO, AND THIS IS ONLY THE CAPITAL BUDGET, NOT THE OPERATING BUDGET MM-HMM . SO THIS DOESN'T, THIS DOESN'T REFLECT ECONOMIC DEVELOPMENTS OPERATING BUDGET IN ANY WAY. DOES THAT ANSWER, DOES THAT ANSWER YOUR QUESTION? IT, IT, IT SORT OF DOES. I MEAN, IT IS HELPFUL, IT'S GOOD CONTEXT. IT STILL, I THINK, BEGS THE QUESTION WHEN THAT MONEY WILL BE ALLOCATED, UM, IF AT ALL. SO, UM, IF, YOU KNOW, LET'S LOOK FOR INSTANCE, UM, AT FIRE, UH, WHICH SPEND 131% OF THEIR SPENDING PLAN, UM, NOW WHAT THAT, WHERE THAT MONEY CAME FROM IS FROM THE BOND PROPOSITION. UM, AND WHAT THAT MEANS IS THAT IN THIS PARTICULAR YEAR, THE FIRE DEPARTMENT SPENT MORE THAN THE ESTIMATED SPENDING PLAN. SO THEY ARE, UM, WELL, IT DOESN'T REALLY TELL YOU WHERE THEY ARE IN COMPLETING THEIR PROJECTS. IT TELLS YOU THAT FOR FISCAL YEAR 2025, THEY, UH, SPENT MORE THAN THEIR ESTIMATED SPENDING PLAN. UH, SO FOR THAT YEAR, UH, HAD A SCHEDULE. MY, MY QUESTION WAS MORE AROUND THE DEPARTMENTS THAT ARE UNDER SPENDING, UH, AND THE ECONOMIC DEVELOPMENT DEPARTMENT WAS THE MOST GLARING AT ONLY 7%. CORRECT. SO WHAT THAT, WHAT THAT INDICATES IS THAT AT LEAST LOOKING ONLY AT FISCAL YEAR 2025 MM-HMM . THEY'RE BEHIND SCHEDULE ON THE PROJECTS THAT THEY WERE SUPPOSED TO BE COMPLETING. UH, ALL, [00:20:01] ALL WE REALLY KNOW FROM THIS SNAPSHOT IS THAT THEY DIDN'T SPEND AS MUCH AS THEY, AS WAS ESTIMATED FOR THIS YEAR MM-HMM . UM, YOU WOULD HAVE TO LOOK AT THE, UH, CAPITAL IMPROVEMENT PLAN TO SEE OVERALL WHAT PROJECTS THEY'VE GOT AND WHERE ALL THOSE PROJECTS WERE. BUT THE POINT OF THIS, THE, THE VALUE TO ME OF THIS PAGE IS THOSE DEPARTMENTS THAT WERE, FOR WHATEVER REASON, NOT ABLE TO, TO MEET THEIR ESTIMATED SPENDING PLAN, UM, WHAT ARE THE REASONS THAT THEY WERE NOT ABLE TO DO SO? AND IS THAT A RECURRING PROBLEM OR IS THAT JUST A ONE-OFF ISSUE? UM, AND THEY HAVE A PLAN FOR, UM, YOU KNOW, HOW THEY'RE GONNA RESOLVE THAT AND, AND MEET THE TIMEFRAME FOR THE PROJECTS THAT WERE, THAT WERE ASSIGNED TO THEM. YEAH. I THINK IT'S A, I THINK IT'S A GREAT STARTING POINT, UM, FOR THAT END, BUT, UH, DEFINITELY NEED SOME, SOME DETAIL HERE AROUND OF THIS SPENDING PLAN. HOW MUCH DID THE BONDS PLAY INTO IT? AND THEN FROM OUR PURVIEW ESPECIALLY, RIGHT. UM, THE SPEND PLAN ACCORDING TO ACTUAL VERSUS SPEND PLAN, AND THEN WHAT ACTUALLY GOT ACHIEVED. RIGHT. UM, ARE WE ON TARGET WITH THE ACTUAL GOAL OF THE BOND ITSELF AND AGREEMENT WITH THE VOTERS? RIGHT. RIGHT. SO DEFINITELY A GREAT STARTING POINT. THANKS FOR PULLING THIS UP. YEAH. THE, THE, UM, SAN DIEGO, I AGREE COMPLETELY THAT THE, THE, WE HAVE FOCUSED, UH, A LOT ON SPENDING PLAN AS AN INDICATION OF HOW DEPARTMENTS ARE DOING. I COMPLETING PROJECTS. THE, THE IMPORTANT PIECE IS GETTING THE PROJECT COMPLETED. UM, AND THE SPENDING PLAN JUST GIVES YOU AN INDICATION, UH, WHEN A DEPARTMENT IS BEHIND ON THE SPENDING THE LAND, THAT'S AN INDICATION THAT THE PROJECT MAY BE FALLING BEHIND AS WELL. AND, BUT YOU HAVE TO ASK SOME MORE QUESTIONS TO FIND OUT IF THAT'S THE CASE AND IF IT IS THE CASE, WHAT THE CAUSES ARE. AND OF COURSE, THE SPENDING PLAN IS ALSO IMPORTANT IN TERMS OF THE ISSUE THAT'S BEFORE COUNCIL. NOW, IN TERMS OF THE AUTHORIZED, BUT UNISSUED BONDS, IF DEPARTMENTS, UH, WHAT THE CITY DOES IS ISSUE REIMBURSEMENT RESOLUTIONS, UH, WHEN A PROJECT IS APPROVED, AND THAT, WHAT THAT MEANS IS THE BONDS ARE NOT SOLD UNTIL THE MONEY IS ACTUALLY SPENT. SO WHEN A DEPARTMENT IS BEHIND ON SPENDING PLAN, WE'RE ALSO GONNA BE FALLING BEHIND ON SELLING THE AUTHORIZED BONDS. AND THAT'S GONNA ADD TO THE AUTHORIZED BUT ANIS ISSUE. YEAH, I THINK THAT FLIP SIDE OF THAT IS WE WE'RE NOT PAYING DEBT SERVICE ON SOMETHING. YEAH. IT IT'S USING, YEAH, USING THE REIMBURSEMENT RESOLUTION IS OBVIOUSLY A SMART THING TO DO. UM, YES. AND THE, THE REIMBURSEMENT RESOLUTIONS WORK PERFECTLY AS LONG AS PROJECTS CONTINUE ON SCHEDULE AND SPEND THEIR, THEIR ESTIMATED SPENDING. ANYTHING ELSE BEFORE WE GO TO THE RESOLUTION? UM, NO, NO. YOU COULD PROCEED TO RESOLUTION. YEP. I'D JUST LIKE TO NOTE THAT, UM, CHARLES MADE A, HE FIXED THE ONE, SO THE ONE YOU HAVE BEFORE YOU IS GONNA BE A LITTLE DIFFERENT, AND I CAN SEND OUT THE NEW ONE TO THOSE WHO ARE ATTENDING ONLINE AFTER THE MEETING. GREAT, THANKS. NOW, THIS, THIS RESOLUTION MAKES, UM, SOME MINOR CHANGES. UH, IN TALKING TO SOME OF THE FINANCIAL FOLKS. UM, THEY PREFERRED, INSTEAD OF SAYING, UM, INSTEAD OF SAYING WHERE I SAID ESTIMATED SPENDING PLAN, THEY PREFERRED PUTTING IN DEPARTMENTAL SPENDING. UM, AND THEY PREFERRED SAYING THAT IT LAYS OUT, I SAID IT IN THERE ORIGINALLY, I SAID, IT LAYS OUT A PROJECTED SPENDING PLAN, AND THEY SUGGESTED LAYS OUT AN ESTIMATED SPENDING PLAN. UH, BUT THIS IS A DRAFT THAT I PUT TOGETHER, AND I, I WOULD JUST START BY SAYING [00:25:02] IN FROM MY VIEW, YOU KNOW, THERE ARE FOUR DIFFERENT THINGS WE COULD DO WITH THIS DRAFT. WE COULD PASS SOME VERSION OF IT. UM, UM, WHICH IS BASICALLY AT THE BOTTOM, IT'S IN THE WHERE ASSES, UH, AS YOU KNOW, THE BOND OVERSIGHT COMMISSION CAN ONLY MAKE RECOMMENDATIONS TO COUNCIL, UH, IS NOT SUPPOSED TO MAKE ANY, UM, PROVIDE ANY DIRECTION TO STAFF, BUT ONLY RECOMMENDATIONS TO COUNCIL. SO THE, UM, THE WHEREAS IS, UM, THAT THE COUNCIL REQUIRED THE, THE CITY MANAGER TO PRODUCE A REPORT OUTLINING THE DEPARTMENT'S WHOSE SPENDING WAS LESS THAN 75% OF THEIR APPROVED SPENDING PLAN, OR, UH, AND THAT'S BEEN CHANGED TO ESTIMATED SPENDING PLAN, WHAT BENCHMARKS IN THEIR PROJECTED PLAN THEY FAILED TO MEET AND THE CAUSE FOR THOSE DELAYS. SO THAT'S THE ACTION THAT WOULD BE IN THERE IF WE PASSED THE RESOLUTION. SO WE COULD PASS SOME VERSION OF THIS RESOLUTION, OR WE COULD USE THIS DATA, UH, OURSELVES, UM, TO, TO PLAN OUR WORK PLAN AND ASK THOSE DEPARTMENTS THAT APPEAR TO BE IN TROUBLE BASED ON WHAT THEY SPENT VERSUS WHAT THE ESTIMATED SPENDING PLAN WAS. OR WE COULD DO BOTH. WE COULD PASS THE RESOLUTION AND WE COULD USE, WE COULD, UM, ASK DEPARTMENTS TO COME IN AND TALK TO US ABOUT WHAT THEIR, WHERE THEY FELL SHORT AND WHY. UM, SO WE COULD, UH, WE COULD DO BOTH, OR WE COULD DO NONE OF THE ABOVE. UM, BUT THE, THE RESOLUTION, JUST THE PRIMARY, MY PRIMARY PURPOSE IN DOING THE RESOLUTION, UM, WAS TO CALL ATTENTION TO THIS REPORT, WHICH I THINK IS EXTREMELY VALUABLE. AND, UH, I, I HOPE THAT BY DOING THE, DOING A RESOLUTION OR SOME VERSION OF THIS RESOLUTION TO COUNSEL THAT IT WILL CALL MORE ATTENTION TO THE REPORT. BUT, AND THE, YOU KNOW, THE BOTTOM LINE OF THE REPORT IS THAT ALTHOUGH WE ARE, AS CAPITAL PROJECTS DELIVERY HAS POINTED OUT, WE'RE DOING MUCH BETTER, UH, WITH THE CAPITAL PROGRAM. THERE ARE APPARENTLY STILL SOME ISSUES, UH, YOU KNOW, SMALLER, BUT STILL SOME ISSUES THAT WOULD BE PROBLEMATIC, UH, IF NOT CORRECTED. SO I'LL BE, I'LL BE GLAD TO ADDRESS ANY QUESTIONS, UH, ABOUT THE RESOLUTION ITSELF OR ANY SUGGESTIONS FOR CHANGING? I JUST WANTED TO SAY YEAH, JUST, JUST A, OH, GO AHEAD. GOOD. UH, THANK YOU. I, YEAH, I JUST SORT CALL IT LIKE, THIS SEEMS LIKE IT WOULD BE, SEEMS LIKE A PRETTY STRAIGHTFORWARD, LIKE, FINANCIAL BENCHMARK PRACTICE, RIGHT? UM, I'D BE SURPRISED IF FINANCIAL SERVICES DOESN'T ALREADY HAVE SOMETHING LIKE THIS, JUST THAT WE HAVEN'T SEEN IT. UM, SO I WAS GONNA ASK STAFF IF, IF THERE'S POTENTIAL TO REACH THAT HEALTH TO THAT DEPARTMENT TO SEE, UM, IF THERE'S ANY EXISTING REPORTING TODAY THAT, THAT WE CAN JUST GET OUR HANDS ON. I WOULD COMPARE. ONE OF THE THINGS, YOU KNOW, AS I SAID, BASED ON MY, ONE OF THE THINGS THAT HIT ME IN LOOKING AT THIS, AND BASED ON MY PAST EXPERIENCE WORKING AT THE CITY, I COMPARE THIS TO WHAT OUR, WHAT OUR FINANCIAL FOLKS DO FOR THE GENERAL FUND. SO IN THE SAME REPORT, THERE IS, UM, QUARTERLY, UH, A REPORT IN THE GENERAL FUND, BUT BOTH, BOTH THE REVENUE AND EXPENDITURE AND THE GENERAL FUND, AND THAT INCLUDES EACH QUARTER, UH, I, WHAT THE YEAR IN ESTIMATE WOULD BE FOR THOSE, THAT REVENUE AND THOSE EXPENDITURES. UH, I, I DON'T KNOW WHAT THE METRIC IS, BUT WHEN I WAS THERE, THE EXPECTATION AND THE, YOU KNOW, FOR THE THIRD QUARTER WAS THAT THAT ESTIMATE NEEDED TO BE LIKE 99% ACCURATE TO WHAT THE YEAR END WAS. SO THERE'S A VASTLY DIFFERENT AMOUNT OF FOCUS ON THE GENERAL FUND REVENUE AND EXPENDITURES ARE, OR AT LEAST TO ME, THIS [00:30:01] PAGE SORT OF REFLECTS A DIFFERENT LEVEL OF FOCUS ON THE, THE CAPITAL SPENDING AND THE OPERATING SPENDING. UM, AND, YOU KNOW, EXPERIENCE SHOWS THAT, UM, WE DON'T GENERALLY, WE DON'T GENERALLY END UP IN THE OPERATING BUDGET WITH A DEPARTMENT THAT SPENT 30% OF THEIR BUDGET. UM, I, AND I THINK PART OF THAT, PART OF THAT IS MAYBE ATTRIBUTED TO THE, THE DIFFERENT LEVEL OF FOCUS AND FOCUS IS A, IS A, IS A FUNCTION OF, UH, STAFF RESOURCES IN PART. UM, AND WHAT I'D, YOU KNOW, WHAT I'D REALLY LIKE TO BE ABLE TO SUPPORT IS THE BUDGET OFFICE STAFFING FOR CONTINUING TO DO THIS KIND OF WORK. I AGREE. AND, UH, UH, THANK YOU. COMMISSIONER CURRY, DID YOU PUT THIS TOGETHER? YES. THANK YOU. UM, MY ONLY COMMENT AND SUGGESTION WOULD BE AROUND IF THERE'S ANYTHING WE CAN DO TO PUT LANGUAGE IN HERE, UM, THAT SPEAKS TO MEETING CERTAIN DEVELOPMENTAL MILESTONES AS OPPOSED TO JUST FOCUSING ON SPEND. I THINK THAT THAT WOULD BE BENEFICIAL. WELL, THAT'S WHAT I INTENDED TO ADDRESS IN THE, WHEREAS, UH, WHEN I SAID, UM, THAT THE CITY MANAGER WOULD, WOULD, UH, PRODUCE A REPORT THAT, UM, THAT OUTLINES, UM, WHAT BENCHMARKS IN THEIR PROJECTED PLAN THEY FAILED TO MEET, THAT'S THE, WHERE IT GETS INTO THE, THE PROJECT AND ALL OF THE, THE, ALL OF THE CAPITAL PROJECTS HAVE A PLAN ON HOW THEY'RE GONNA BE IMPLEMENTED, HOW LONG IT WILL TAKE TO DESIGN, HOW LONG IT WILL TAKE TO GET THE CONTRACT APPROVED, HOW LONG IT WILL TAKE TO, YOU KNOW, TO, TO GO TO CONSTRUCTION, HOW LONG CONSTRUCTION WILL TAKE. UM, AND THOSE ARE THE BENCHMARKS THAT THE RESOLUTION REFERS TO. UM, AND I, I THINK IF WE HAD A BETTER OVERVIEW OF WHICH ONES ARE THE BENCHMARKS DEPARTMENTS ARE HAVING PROBLEMS WITH, WE KNOW, WE KNOW SOME OF THOSE, UM, CAPITAL PROJECTS HAS, HAS TOLD US REPEATEDLY, ONE OF THE ISSUES THAT, IN THAT IS DELAYED PROJECTS, IS THAT PROJECTS HAVE BEEN APPROVED IN A BOND ISSUE, UM, THAT WERE, YOU KNOW, MORE, UH, DREAMS THAN PLANS. AND IT, AS A RESULT, IT IS TAKEN FAR LONGER TO GET THOSE PROJECTS DESIGNED, UH, THAN WAS, THAN WAS ESTIMATED. AND IT'S OFTEN ALSO INFLUENCED THE COST. UM, SO IT'S, IT'S THE BENCHMARKS IN THIS RESOLUTION THAT GETS PAST THE SPENDING PLAN AND REFERS TO WHAT PRO, WHAT PRO WHAT PROGRESS IS BEING MADE ON THE PROJECT ITSELF. DOES THAT HELP TO ADDRESS YOUR POINT? IT DOES. NO, THAT REALLY DOES ADDRESS MY CONCERNS. I GUESS MY FEAR IS THAT WE MAY NEED TO BE EXPLICIT, OTHERWISE WE MAY CONTINUE JUST TO RECEIVE, UH, INFORMATION RELATED TO SPEND. I, IF I MAY, THE, UH, THE INFORMATION RELATED TO SPEND IS JUST LIKE THE, THE TRIGGER, RIGHT? FOR THE DISCUSSION? YES. NO, I, I TOTALLY UNDERSTAND. I I'M JUST ENCOURAGED, LIKE ANY LANGUAGE WE COULD ADD IN HERE AROUND WHAT THOSE BENCHMARKS ARE THAT WE'RE LOOKING AT, I THINK COULD ONLY HELP US. AND, AND THAT'S WHERE, LIKE, I THINK IF YOU LOOK AT THE, AT THE, THE, THE CIP IN LIKE THE, THE, THE KIND OF REPORTING UNDERNEATH THIS, LIKE JUST ONE LAYER BENEATH THIS AND, AND COMMISSIONER CRANE, MAYBE YOU COULD SET THE EMAIL OR EMAIL TO, TO, TO STAFF THE REPORT AND CIRCULATE THAT ON THE, THE, THE FULL REPORT AND CIRCULATE THAT AMONGST THE COMMISSION. OR MAYBE THAT THAT'S HAPPENED ALREADY. APOLOGIES IF IT HAS, BUT, UM, TO KIND OF SEE LIKE THESE, THESE ARE TIED TO LIKE OTHER STUFF THAT'S IN THE REPORT. SO WE'RE LOOKING AT LIKE THE TOP LAYER, THIS TOP TABLE. YES. THAT'S AN ABSTRACTION OF ALL THIS OTHER STUFF UNDERNEATH IT. OKAY. YEAH. I SEE. AND, AND ONE OF THOSE BOTTOM LAYERS, AND STEVEN, YOU CAN HELP ME ON THIS IF YOU WOULD PLEASE, IS AN OLD SYSTEM [00:35:01] THAT IS IN THE PROCESS OF BEING REPLACED. IT WAS CALLED CAPRI, WHICH LAID OUT, UM, SOME VERY SPECIFIC BENCHMARKS. UM, AND THOSE, MY MEMORY IS THAT THAT SYSTEM INCLUDED SOME BENCHMARKS, LIKE WHEN IS, WHEN WILL DESIGN BE COMPLETED? UH, WHEN WILL THE CONTRACT BE AWARDED? UH, WHEN WILL CONSTRUCTION START, WHEN WILL CON CONSTRUCTION, UH, AND UM, STEVEN, DO YOU WANNA, ARE THOSE STILL THE KINDS OF BENCHMARKS THAT ARE THERE? YEP. YOU'RE, YOU'RE CORRECT. THOSE, UH, FIVE MAJOR CATEGORIES ARE STILL THE CONSTRUCTION PHASES THAT ARE, UM, REFLECTED IN THE E CAPRI SYSTEM. WOULD IT, UM, WOULD YOU LIKE TO INSERT THOSE INTO THE RESOLUTION AFTER THE WORD BENCHMARKS? IS THAT DIRECTED AT ME? YEAH. YES. I, YES, I WOULD. SO I WOULD TAKE THAT AS A, WELL, THERE'S NOT A MOTION ON THE FLOOR, BUT IF THERE WERE MOTION, WE CAN THEN WE CAN AMEND THE RESOLUTION THAT WAY. I DIDN'T, I WANTED TO, YOU KNOW, APPROACH THIS AS A GENERAL DISCUSSION. UH, BUT, AND THAT'S WHY I LAID UP FOUR DIFFERENT ALTERNATIVES. UH, THE COMMISSION MAY THINK, WELL, YOU KNOW, INSTEAD OF, INSTEAD OF ASKING THE CITY MANAGER TO DO THIS, THEN WHY WOULDN'T WE LOOK AT IT OURSELVES? UM, MY VIEW IS, UM, THAT IT WOULD BE BETTER TO COME FROM BOTH DIRECTIONS. FOR ONE THING, THE CITY MANAGER WOULD, UH, BE ABLE TO DO THAT MUCH MORE QUICKLY THAN WE WOULD, UM, AND, UM, PROBABLY MORE EFFECTIVELY THAN WE WOULD. UM, THERE ADDITIONAL, ONE ADDITIONAL AMENDMENT I WOULD SUGGEST IS THAT THERE IS A SECOND RESOLUTION, UM, OR THERE'S SECOND PART OF THE RESOLUTION, AND THAT IS THAT SUCH REPORT BE MADE AVAILABLE TO CITY COUNCIL AS THEY FINALIZE DECISIONS IN THE NEXT BOND ELECTION PACKAGE. I WOULD, UM, SUGGEST WE DELETE THAT, UH, AS COUNCIL IS MOVING FORWARD AT A SPEED THAT'S NOT GONNA MAKE THAT POSSIBLE. UM, YEAH. AND I GUESS WITH, WITH THAT, UM, DO WE HAVE ANY MOTIONS FOR, UH, THE FIRST PROPOSED AMENDMENT, WHICH WAS TO ADD THE, UH, BENCHMARKS TO THE RESOLUTION ON THE FIRST PARAGRAPH? YES. SO MOVED SECOND. OKAY. SO THE MOTION HAS BEEN, UH, PROPOSED AND SECONDED. UM, DO YOU HAVE A VOTE? UH, HOW MANY PEOPLE SAY I? YEAH, WILL THOSE ON, UH, THE CAMERA, PLEASE, UH, TURN ON THEIR CAMERAS PLEASE. , IT APPEARS TO BE UNANIMOUS, UH, , BUT, UM, SO THE MOTION CARRIES. AND THEN, UH, NEXT, UH, WE'LL INDICATE ANY MOTIONS FOR THE SECOND AMENDMENT, WHICH WOULD BE TO, UH, DELETE THAT SECOND PART OF THE RESOLUTION. SAME, UH, REPORT MAY BE MADE AVAILABLE TO THE COUNCIL AS A FINALIZED DECISION ON THE NEXT BOND ELECTION PACKAGE. SECOND MOTION IF A MOTION HAS BEEN SECONDED. OKAY. SO, UH, CAN, UH, HOW MANY PEOPLE, UM, ARE IN FAVOR OF, UH, DE RESOLUTION? PLEASE, UH, SAY AYE, OR RAISE YOUR HAND. OKAY. OKAY. THE MOTION PASSES UNANIMOUS. THANK YOU. WELL, WITH THIS, UH, WITH THOSE, UH, UH, AMENDMENTS TO THE DRAFT IN THERE, ARE WE, UH, DO WE HAVE A MOTION TO APPROVE THE DRAFT WITH THOSE AMENDMENTS INCLUDED? YEAH, MAKE THE MOTION SECOND. ALRIGHT. MOTION HAS BEEN SECONDED. UH, ALL THOSE IN FAVOR OF APPROVING THE DRAFT WITH THE INCLUDED, UH, WITH THE, UH, AMENDMENTS INCLUDED, PLEASE SAY, AYE. AND RAISE YOUR HAND. A MOTION, UH, CARRIES UNANIMOUSLY. GREAT. THANK YOU. THANK YOU VERY MUCH, COMMISSIONER CURRY. AND NOW, UH, DO WE HAVE ANY, UH, FUTURE AGENDA ITEMS, UH, TO BRING UP TO THE FLOOR? [00:40:01] OKAY. AND DO WE HAVE A MOTION TO ADJOURN THAT CASE? OH, OKAY. YEAH, I BELIEVE WE CAN ADJOURN NOW. ALREADY, EVERYBODY HAVE A GREAT AFTERNOON AND TAKE CARE. THANK YOU. THANK YOU. THANK YOU ALL. THANKS EVERYONE. THANK YOU. * This transcript was created by voice-to-text technology. The transcript has not been edited for errors or omissions, it is for reference only and is not the official minutes of the meeting.