[00:00:02]
YOU WANNA CALL IT TO ORDER? SURE.
[CALL TO ORDER]
ORDER TWO OH ONE.AND WELL, FIRST OFF IS A PUBLIC COMMUNICATION.
I'LL CALL ATTEND, I'LL CALL ROLE.
AND COMMISSIONER WRIGHT PRESENT.
[PUBLIC COMMUNICATION: GENERAL]
PUBLIC COMMUNICATION THIS AFTERNOON.UM, APPRECIATE YOUR TIME, YOUR SERVICE, AND, UM, FOCUS ON, UH, NOT ENTIRELY SURE WHAT ALL THE, THE TASK, AND I'M STILL LEARNING WHAT THE, UH, FINANCIAL INSTRUMENTS THAT, UM, THE CITY UTILIZES TO, UM, KEEP THINGS MOVING.
UM, PLEASE LEMME KNOW WHEN MY TIME, THE, THE KIND OF JUST SPITBALLING, UM, OR APPROACHING, UM, A LITTLE BIT OF HISTORY BACK IN 1955, I BELIEVE.
UM, WALTER SEAHOLM WAS REMOVED AS THE CITY MANAGER, UH, LEADING UP TO HIS, UH, CONTROVERSIAL, UM, REMOVAL AND SUBSEQUENT DEATH.
UH, VERY SOON AFTER THAT, UM, HE, UH, HE WAS MOVING FORWARD, HAD MADE SOME AGREEMENTS WITH, UH, THIS COMPANY CALLED, UM, THE AUSTIN SAND AND GRAVEL COMPANY, UM, TO DREDGE THE COLORADO RIVER, UM, DOWN TO ITS CURRENT DEPTH.
UH, THE ISLAND THAT'S OUT BY PLEASANT VALLEY, UH, WAS USED TO BE THE, UH, THE SHORELINE OF THE COLORADO RIVER.
THEY, UH, AUSTIN SAND AND GRAVEL COMPANY IS NOW CALLED CAPITAL AGGREGATES AND OCCUPIES, UH, GREAT DEAL OF THE DOG HEAD, UH, AREA.
UM, AND SO, UH, AMIDST, AMIDST, UH, THE DREDGING OF THE COLORADO, UH, UNDERCOVER, UM, UH, THE DIRECTOR, THE ENGINEER FOR TDOT AT THE TIME, UM, KEPT IT VERY QUIET THAT THEY WERE EXPLORING A, AN ALIGNMENT, UH, CALLED, UM, THE BLU CREEK ALIGNMENT.
UM, AND US 81 IS WHAT THE HIGHWAY USED TO BE KNOWN AS.
AND IT WAS, UH, APPROACHED FROM THE SOUTH OF SOUTH CONGRESS AND FROM THE NORTH, UH, PREVIOUSLY AT LAMAR.
UM, BUT AS EAST AVENUE PROJECT CONTINUED TO MOVE FORWARD UNDER EMERGENCY, UM, STIPULATIONS, UH, THAT ALIGNMENT BECAME PUBLIC AND, UH, EXPENDITURES AND, UH, ULTIMATELY THE BRIDGE.
SO EVERYTHING I'M TALKING TO RIGHT NOW, UH, I'M CURIOUS ABOUT HOW TO COMMISSION A MOBILITY STUDY.
UM, AND I'VE GOTTEN A LOT OF, PARDON, I'VE GOTTEN A LOT OF, UM, CONFLICTS WITH REGARDS TO IT'S SUR PASSING THE BUCK, WHICH DEPARTMENT WANTS TO, WANTS TO TAKE OWNERSHIP OF THIS, UH, MOBILITY STUDY.
SO THE NEXUS, THE NEXUS OF MANY, MANY ALIGNMENTS.
UM, BASICALLY MULTIMODE MULTIMODAL, UH, STUDY TO UNDERSTAND PRIMARILY PEDESTRIAN AND BICYCLE, UM, AND HOW IT CONNECTS TO EXISTING INFRASTRUCTURE ALL THE WAY FROM NORTH UP TO LIKE FOURTH STREET TO THE CHAVEZ AND ALL THE WAY SOUTH.
UM, BUT THAT'D BE REALLY SUPPORTIVE.
SO BASICALLY YOU'RE ASKING HOW TO, HOW TO DO A COMMISSION, HOW TO COMMISSION A STUDY TO LOOK INTO THIS.
I DON'T KNOW THAT WE'RE THE RIGHT VENUE FOR THAT ANYWAY.
[1. Approve the minutes of the Bond Oversight Commission Regular meeting on May 20, 2026.]
OUR NEXT AGENDA ITEM IS THE APPROVAL OF THE MINUTES FROM LAST MONTH.AND I WILL ABSTAIN
[00:05:01]
DO WE HAVE A, HAVE EVERYBODY HAD A CHANCE TO LOOK THEM OVER? YEP.IS SANTIAGO GOOD TO SEE YOU? YOU AND COMMISSIONER LIBEL, WILL YOU BE ABSTAINING FROM VOTING ON THE MINUTES? YES.
FOR REASONS THAT I WASN'T HERE.
[2. Staff briefing regarding Upcoming General Obligation Bond Sale. Presentation by Belinda Weaver, Treasurer, Austin Financial Services and Joseph Kellar, Division Chief, Austin Financial Services.]
WE'RE INTO STAFF BRIEFINGS AND OUR FIRST ONE IS THE, UH, STAFF BRIEFING UP ON THE UPCOMING GENERAL OBLIGATION BOND SALE.GOOD AFTERNOON, CHAIR AND COMMISSIONERS.
UM, BELINDA WEAVER, CITY TREASURER, AND WITH ME TODAY IS JOEY KELLER, OUR DIVISION CHIEF OVER DEBT MANAGEMENT IN THE, UM, TREASURY DIVISION OF AUSTIN FINANCIAL SERVICES.
AND WE'RE HERE TODAY TO PRESENT THE CITY'S ANNUAL GENERAL OBLIGATION BOND SALE PRESENTATION.
SO TO START OFF WITH, WE GENERALLY GO OVER, UM, UH, ASPECTS OF THE CITY'S PROPERTY TAX SINCE THAT IS WHAT, UH, PAYS FOR PREDOMINANTLY OUR GENERAL OBLIGATION DEBT.
UH, THE PROPERTY TAX RATE HAS TWO COMPONENTS.
IT'S THE OPERATING AND MAINTENANCE AND THE DEBT SERVICE COMPONENT.
AND THE OPERATING AND MAINTENANCE IS WHAT FUNDS THE GENERAL FUND.
IT ALSO DOES FUND PROJECT CONNECT, WHICH IS THAT 2020 TAX RATE ELECTION THAT WAS APPROVED BY AUSTIN VOTERS.
THE DEBT SERVICE TAX RATE DOES, UM, UH, FUND THE DEBT SERVICE REQUIREMENTS FOR THE UP, EXCUSE ME, FOR THE UPCOMING FISCAL YEAR AND FOR, HMM.
DO YOU GUYS THE DEBT SERVICE TAX? OH, AND JUST FOR CONTEXT, THE DEBT SERVICE TAX RATE FOR FISCAL YEAR 26 IS, OR WAS 52.40 CENTS, OF WHICH 11.37 CENTS WAS THE DEBT TAX RATE.
AND THE O AND M WAS AT 41.03 CENTS.
AND PROJECT CONNECT REPRESENTS APPROXIMATELY 20.8% OF THAT GOOO AND M TAX RATE.
SO, UM, SOME QUICK FACTS ABOUT OUR GEO DEBT.
UH, WE HAVE CURRENTLY OUTSTANDING 2.4 BILLION, AND THAT IS ESSENTIALLY OUR DEBT ON THE BOOKS.
AND OUR GEO DEBT IS ISSUED ONCE PER YEAR.
THAT'S GENERALLY IN THE LATE SUMMER, EARLY FALL.
UM, OUR GEO DEBT IS BACKED BY PROPERTY TAXES, WHICH WE JUST DISCUSSED, AND THE FULL FAITH AND CREDIT OF THE CITY.
WE DO ISSUE THREE TYPES OF GEO DEBT, THE FIRST BEING PUBLIC IMPROVEMENT BONDS, AND THAT FUNDS CAPITAL IMPROVEMENT PROJECTS AND CAPITAL ASSETS THAT IS VOTER AUTHORIZED.
AND IT IS THE FOCUS OF THIS COMMISSION, AND IT DOES HAVE A TERM OF 20 YEARS FOR THOSE BONDS.
WE ALSO ISSUE CERTIFICATES OF OBLIGATION AND THAT FUNDS REAL PROPERTY, LAND, BUILDINGS, THINGS OF THAT NATURE THAT IS NOT VOTER AUTHORIZED.
AND IT DOES HAVE A 20 YEAR TERM AS WELL.
AND THEN WE HAVE OUR CONTRACTUAL OBLIGATIONS, THAT'S PERSONAL PROPERTY THAT WE FUND, AND I GENERALLY EQUATE THAT TO MOVABLE ASSETS, UM, THINGS LIKE VEHICLES, IT, THINGS OF THAT NATURE, UM, THAT IS AS WELL NOT VOTER AUTHORIZED.
AND I WILL HAND IT OVER TO JOEY TO GO OVER THE REST OF THE PRESENTATION.
UM, JUST A QUICK OVERVIEW OF THE STEPS TO SELL OR ISSUE DEBT.
UM, THE PROCESS TO DEVELOP THE CURRENT YEAR'S DEBT ISSUANCE STARTED LAST BUDGET CYCLE.
THE PROJECTS THAT ARE BEING FUNDED WERE APPROPRIATED FUNDS DURING THE ANNUAL CAPITAL BUDGET APPROPRIATION PROCESS.
THE CITY UTILIZES REIMBURSEMENT RESOLUTIONS TO APPROPRIATE FUNDS TO PROJECTS WITHOUT HAVING TO ISSUE DEBT UPFRONT.
BY DOING THIS, THE CITY LIMITS ITS ARBITRAGE EXPOSURE.
THE CITY DOES NOT HAVE TO PAY INTEREST ON UNUTILIZED BONDS BOND PROCEEDS, AND IT ALSO, IT'S ALSO FISCALLY PRUDENT CASH MANAGEMENT.
IN WORKING WITH BUDGET THIS YEAR, WE ANALYZED SPENDING TRENDS IN COMPARISON TO, UH, PROJECT SPENDING PLANS.
AFTER LOOKING AT THIS DATA, WE REVIEWED HOW MUCH IN PROCEEDS THOSE PARTICULAR PROJECTS RECEIVED IN THE PAST.
ONLY THOSE PROJECTS THAT WERE FORECASTED TO HAVE A LOW TO NEGATIVE FUND BALANCE WERE INCLUDED IN THIS YEAR'S, UH, SALE OR DEBT ISSUANCE.
UH, IT'S ALSO IMPORTANT TO NOTE THAT JUST BECAUSE, UH, THE WORK ON VARIOUS BOND PROJECTS, BOND RELATED PROJECTS CONTINUE TO PROGRESS, EVEN IF DEBT ISN'T ISSUED FOR THEM DIRECTLY THIS YEAR.
[00:10:01]
I'M NOT.SO FOR SERIES 2026, THIS IS THE GEO, THIS IS THE PLANNED BOND SALE, UH, SPECIFIC TO THE PUBLIC IMPROVEMENT BONDS, WE'RE ISSU WE'RE EXPECTING TO ISSUE ABOUT 305 MILLION.
IT IS BROKEN OUT BETWEEN THE, THE VARIOUS BOND PROGRAMS THAT HAVE OUTSTANDING BALANCES.
THE 2006 BOND PROGRAM IS ONE AND A HALF MILLION FOR CULTURAL ARTS 2012 BOND PROGRAM, ONE AND A HALF MILLION FOR TRANSPORTATION.
2016 BOND PROGRAM IS ALL TRANSPORTATION PLAN TO ISSUE.
40 MILLION 2018 BOND PROGRAM HAS CLOSE, WILL BE CLOSE TO 87 MILLION ISSUED, UM, PARCELED OUT BETWEEN THOSE VARIOUS PROJECTS, SOME OF THE BIG ONES, AFFORDABLE HOUSING FOR 10 MILLION PARKS AND REC FOR 22 MILLION.
UH, FLOOD MITIGATION WATER QUALITY 25 MILLION AND LIBRARY AND CULTURAL FOR 17 MILLION.
AND THEN AT THE BOTTOM TRANSPORTATION FOR 20 MILLION.
THE 2020 BOND PROGRAM IS ALL TRANSPORTATION.
AND WE ARE EXPECTING TO ISSUE TO 120 MILLION FOR THAT BOND PROGRAM THIS YEAR.
AND 22 BOND PROGRAM IS ALL AFFORDABLE HOUSING AND THAT ONE IS SLATED FOR 55 MILLION.
CAN I ASK A QUESTION ABOUT THE 2006? IS, IS THAT THE, IS THAT, IS THAT IT FOR THAT BOND CYCLE? OR IS THERE, IS THERE A REMAINING BALANCE FOR THERE? THERE IS.
YEAH, SO THE NEXT SLIDE ACTUALLY, I WAS JUST GETTING TO THAT.
UH, BUT IT, BUT YEAH, IT'S TWO AND A HALF MILLION REMAINING ON THE 2006 BONDS AFTER THIS YEAR'S ISSUANCE.
SO, UM, SIMILAR TO THE QUESTION, UH,
AND, UH, 2018 IS SPLIT BETWEEN, UH, A NUMBER OF DIFFERENT PROJECTS, UH, AMOUNTING TO 130.5 MILLION.
UH, SOME OF THE BIG ONES LIBRARY FOR 60.4 MILLION.
UM, TRANSPORTATION, 30, 38 0.1 MILLION.
BUT THAT IS THE, THE BALANCE AS OF AFTER THE, AFTER THE UPCOMING BOND SALE WILL BE APPROXIMATELY 715 MILLION IN REMAINING VOTER AUTHORIZED, BUT UNISSUED GENERAL OBLIGATION DEBT.
SO JUST GOING THROUGH THE TIMELINE FOR THE GEO BOND SALE, UH, TREASURY BAN, WORKING ON THE, THE PRELIMINARY OFFICIAL STATEMENT OR THE POS, UM, AND BOND OFFERING DOCUMENTS IN EARLY JUNE.
UH, THE GEO BOND SALE WILL BE ON THE AUGUST 26TH, AUGUST 27TH, CITY COUNCIL AGENDA TO APPROVE THE PARAMETERS ORDINANCE.
THE BOND SALE IS EXPECTED TO TAKE PLACE IN SEPTEMBER, AND THE CLOSING DATE ON THE BONDS WILL BE IN OCTOBER.
THAT IT, IT'S JUST THE DOUBLE CLICK, I GUESS.
AND WE'RE HAPPY TO ENTERTAIN QUESTIONS THAT THE COMMISSION MAY HAVE AS IT RELATES TO THE UPCOMING GENERAL OBLIGATION BOND SALE AT THIS TIME.
IS THERE ANY DESIRE OR EFFORT TO, UH, BRING IN SOME OF THIS $715 MILLION INTO THIS UPCOMING BOND SALE? NO, WE HAVE, UM, ALREADY DETERMINED OUR, OUR UPCOMING BOND SALE.
AND BASED ON THOSE, YOU KNOW, DETERMINATIONS, AND I THINK WE'VE DISCUSSED THIS IN THE PAST, WHAT WE'RE, WHAT WE'RE LOOKING AT IS WE'RE LOOKING AT SPEND, UM, AS IT RELATES TO THESE PROGRAMS. SO WE HAVE ALREADY ANALYZED THE SPEND THAT HAS OCCURRED ALREADY THROUGH THIS YEAR, ALONG WITH THE SPEND THAT'S PROJECTED THROUGH THE END OF THE YEAR.
AND THAT IS WHAT'S GOING TO FUND THIS UPCOMING YEAR'S GENERAL OBLIGATION BOND SALE.
SO IS THE QUESTION LIKE PRE-FUNDING, UM, PROGRAMS, EXCUSE ME.
UM, MY QUESTION WAS AROUND IF THERE'S ANY DESIRE TO DO ADDITIONAL PROJECTS, UH, AND IF IT MIGHT BE ADVANTAGEOUS TO, UH, RAISE SOME OF THIS MONEY EARLIER BY, UM, BRINGING IT INTO THIS UPCOMING BOND SALE.
THOSE, THAT WAS WHAT I WAS TRYING TO
[00:15:01]
ASK.YEAH, AND I KIND OF TOUCHED ON IT EARLIER.
UM, WE ATTEMPT TO REALLY KIND OF MATCH WITH WHAT WE'RE SPENDING AT THAT TIME.
SO WE'RE NOT TRYING TO ISSUE DEBT EARLIER THAN NEEDED BECAUSE THEN WE'RE, YOU KNOW, FOR, FROM AN ARBITRAGE STANDPOINT, WE WANT TO BE PRUDENT ABOUT HOW WE'RE SPENDING OUR MONEY AND MAKING SURE THAT WE'RE REIMBURSING OURSELVES FOR EXPENDITURES OR KIND OF TIMELINESS OF EXPENDITURES, AND THEN ALSO NOT HAVING DEBT, UM, THAT'S NOT BEING USED AT THAT POINT IN TIME AND HAVING TO PAY INTEREST ON THAT DEBT.
SO WE'RE, WE'RE REALLY TRYING TO MANAGE IT BEST TO WHERE IT LINES UP WITH WHAT, WHEN OUR EXPENDITURES ARE EXPECTING TO TAKE PLACE AND PROJECTS ARE EXPECTED OR PLANNED TO ACTUALLY OCCUR.
I HAVE A QUESTION OVER HERE, UM, IF THAT'S OKAY.
UM, JUST TO CONFIRM MY UNDERSTANDING, LOOKING AT THE PRESENTATION, UH, JUST AGAIN, JUST TO TAKE AN EXAMPLE FOR 2022, UH, SO FOR THIS BOND SALE, WE'RE SAYING THAT FOR 2022, WE WANNA FUND 55 MILLION FROM THAT, UH, ISSUANCE THERE, OR FROM THAT, UH, THAT BOND PACKAGE THERE.
UM, JUST TO UNDERSTAND THE MATH, THAT'S SAYING THAT WHAT'S LEFT AFTER THAT FUNDING WOULD BE TWO 13 THAT WE STILL NEED TO, UH, FULFILL LATER.
SO IT'S 268 OR SO BEFORE, IS THAT MY UNDERSTANDING OF THE MATH? SHOULD BE ED? YES.
BEFORE THIS, BEFORE THIS BOND SALE, UPCOMING BOND SALE, UM, SERIES 2026, HOWEVER YOU WANT TO, UH, REFERENCE IT.
YEAH, WE'RE GONNA HAVE, WE HAVE CURRENTLY A BILLION OUTSTANDING.
UM, SO AFTER THIS BOND SALE, IT GOES DOWN TO 715 MILLION AFTER OUR PLANNED BOND SALE.
SO YOU, YOU'RE CORRECT IN YOUR ASSESSMENT.
AND ANY OTHER DISCUSSION OR QUESTIONS? WE, THE
UNFORTUNATELY, COMMISSIONER RODS, I THINK YOU'RE, YOU CAME THROUGH GARBLE.
COULD YOU REPEAT THAT PLEASE? UH,
AND, AND WE'RE GLAD TO RESPOND TO QUESTIONS AFTER THE FACT IF YOU WANTED TO RELOAD.
WOULD THAT BE OKAY, COMMISSIONER, SEE IF HE COMES BACK.
ANY OTHER QUESTIONS OR DISCUSSION? I, I HAVE A FOLLOW UP QUESTION MAYBE FOR STEVEN.
THE WAY I'M THINKING ABOUT THIS, AND MAYBE I'M NOT THINKING ABOUT IT CORRECTLY, IS ULTIMATELY OUR GOAL IS TO BRING THE SEVEN 15 DOWN TO ZERO.
UM, SO IS THERE ANY EFFORT TO SPEND MORE QUICKLY, UH, UNDERSTAND YOUR QUESTION? THE PARAMETERS THAT, UH, THE TEAM IS USING TO COME UP WITH A NUMBER THEY WANNA SELL FOR 2026 IS BASED ON THE SPEND PLAN THAT'S PUT TOGETHER THIS PAST YEAR SAYING THIS IS WHAT WE'RE CAPABLE OF DOING THIS YEAR.
SO IT'S SORT OF LIKE THE GARDEN HOSE.
IF WE PUSH MORE MONEY IN AT THIS END, IT'S NOT GOING TO PRODUCE MORE PROJECTS COMING OUT.
WE CAN ONLY EXECUTE AT A, AT A LEVEL THAT WE PROJECT.
SO ADDITIONAL FUNDS WON'T DO THAT.
NOW, IF WE THOUGHT A YEAR OR TWO YEARS DOWN THE ROAD THAT WE HAD SOME CAPACITY TO RAMP UP, WE COULD CERTAINLY WORK ON INCREASING OUR SPEND PLAN TO SAY, IN FUTURE YEARS BOND SALES.
CAN WE BUMP THAT UP A LITTLE BIT MORE? BUT FOR CURRENT YEAR, WE'RE REALLY LOCKED INTO THE, THE LEVEL THAT WE CAN PLAN TO SPEND.
I, AND I THINK YOU CAN PROBABLY SEE WHERE I'M GOING.
LIKE THE 2006 BONDS AS AN EXAMPLE, YOU KNOW, THAT WAS MONEY WE INTENDED TO, WE INTEND TO ALLOCATE, BUT WE, WE ALLOCATED IT WAY BACK IN 2006.
UM, SO WHEN ARE WE GONNA SPEND IT ESSENTIALLY? I, I DON'T HAVE ANY VISIBILITY INTO THAT FAIR SPECIFIC PROJECT, BUT WE COULD CERTAINLY TRACK THAT DOWN AND TELL YOU WHEN.
AND I, I THINK JUST KIND OF FOLLOWING UP ON WHAT STEVEN STATED, UM, YET SPEND PLANS ARE ONE COMPONENT, BUT WHAT WE DO IS WE ANALYZE, YOU KNOW, THE ACTUAL SPEND THAT HAS OCCURRED, THAT HAS OCCURRED ALONG WITH THE SPEND PLAN PROJECTION IN DETERMINING THE UPCOMING BOND SALE.
SO IT'S, IT'S, IT'S REALLY A, A TWO-PRONG KIND OF ASSESSMENT THAT WE DO.
[00:20:01]
I THINK THAT IF, OH, SORRY.UM, YEAH, I WAS JUST, I JUST TO FOLLOW UP ON THAT, I DO FEEL LIKE IT WOULD BE GOOD IF MAYBE AT THE NEXT, LIKE ESPECIALLY FOR THOSE FINAL TWO, THE, THE FURTHEST BACK, IF WE COULD GET SOME VISIBILITY INTO LIKE WHY WE'RE ISSUING THE 1.5 OUT OF THE REMAINING FOUR VERSUS LIKE, LIKE WHAT IS GOING ON WITH THAT PROJECT.
AND THEN THE, THE SECOND TO LAST IS AT 2008 OR 2012, UM, IT'S JUST SEEMS LIKE A SIMILARLY EXTREMELY SMALL AMOUNT OF THE TOTAL BOND PACKAGE.
AND I THINK IT WOULD BE HELPFUL GIVEN THE WAY THAT, UM, YOU KNOW, THIS IS BEING SORT OF COVERED IN THE MEDIA AND, AND, YOU KNOW, I THINK PEOPLE GENUINELY WANNA KNOW
VERY GOOD POINT, COMMISSIONER.
I JUST WANTED TO CLARIFY, I THINK I UNDERSTAND ALL OF THIS BOND SALE IS TO REPLACE CASH THAT'S ALREADY BEEN SPENT, RIGHT? PREDOMINANTLY, YES.
UM, WE, WHEN WE DO OUR ANALYSIS, RIGHT, IT'S, IT'S MIDYEAR, SO WE'RE LOOKING AT IT IN MARCH, APRIL, MAY TIMEFRAME.
SO WE HAVE THE REMAINDER OF THE YEAR.
UM, WE DO ANALYZE THE SPEND AS OF MIDYEAR, UM, AND THAT ASSISTS WITH OUR PROJECTIONS THROUGH THE END OF THE YEAR, UM, IN RELATION TO THOSE SPEND PLANS THAT WERE DEVELOPED BY THE DEPARTMENTS FOR THESE SPECIFIC PROJECTS.
AND SO WE, WE ISSUE BONDS, UH, AFTER THE MONEY'S BEEN SPENT PREDOMINANTLY IN ORDER TO SAVE ON INTEREST COST.
SO IN THE INTEREST OF SPEEDING UP, WHAT WE WOULD NEED TO SPEED UP IS WHAT WE SPEND THIS NEXT YEAR.
THAT IS, AND THEN THAT WOULD BE REFLECTED IN A LARGER BOND SALE, UH, WHEN WE TALK, IF THAT MAKES SENSE.
I'M, I'M JUST HOPEFUL THAT THAT'S SOMETHING THAT WE WILL, WE'LL GO TO BECAUSE, AND MAYBE I'M INTERPRETING THIS WRONG, BUT IT LOOKS LIKE THE VOTERS DETERMINED THAT THEY WANTED TO GO ALLOCATE THIS MONEY WAY BACK IN 2006.
I DON'T, I DON'T KNOW THAT WE HAD A CONTRACT WITH THE VOTERS AT THAT IN 2006.
COMMISSIONER RODRIGUEZ, CAN YOU, CAN YOU HEAR ME REPEAT WHAT YOU WERE SPEAKING EARLIER? WE COULDN'T UNDERSTAND YOU.
YEAH, IT WAS, I THINK, UH, UH, I THINK WE JUST TOUCHED ON IT WITH THE REIMBURSEMENT RESOLUTIONS, UM, IN THAT PROCESS.
I JUST WANTED TO MAKE SURE THAT, THAT THAT WAS APPARENT THAT WE'RE REPAYING BACK THE CITY FOR MONEY THAT'S ALREADY SPENT.
I DID HAVE ONE OTHER ITEM, IF THAT'S OKAY.
AND IT'S, IT'S REALLY, I THINK A NOTE, UM, TO KEEP IN MIND FROM WHAT I'VE SEEN AND, AND THE FEEDBACK THAT I'VE GOTTEN ABOUT, AGAIN, THE ATTITUDE TOWARDS BOND SALES OVERALL, UM, IS AGAIN, JUST ECHOING THE SAME SENTIMENT, WHY AREN'T WE, UH, WHY DO WE STILL HAVE THESE 20-YEAR-OLD BONDS THAT HAVEN'T BEEN DEPLETED YET? UM, FROM THAT STANDPOINT, THE CORRECTION BEING THAT, YEAH, WE NEED TO GET OUR CURRENT YEAR AND FU UH, FUTURE SPENDING IN LINE TO GET THOSE DOWN.
I WOULD JUST, UH, AGAIN, MAYBE A POINTER JUST AS SOMETHING TO KEEP IN MIND THAT TRYING TO PACKAGE THAT, UH, AS THE ACTION THE CITY'S TAKING TO ADDRESS THOSE CONCERNS GOING FORWARD IS REALLY THE IMPORTANT THING.
BECAUSE I THINK A LOT OF PEOPLE, FROM WHAT I'VE SEEN, JUST DON'T HAVE THAT VISIBILITY TO SOME OF THE ISSUES THAT WE SEE AND THAT THEY'RE BEING HELD UP AS FAR AS OUR ABILITY TO SPEND.
IT'S NOT THAT WE DON'T KNOW WHAT TO SPEND IT ON OR ANYTHING LIKE THAT.
IT'S, WE'RE TRYING TO, BUT WE'RE, UH, I THINK FROM HERE ON OUT, LIKE WITH CAPITAL DELIVERY SERVICES BEING, UH, SUCH A GREAT ASSET, UH, WE ARE REORGANIZING AND TRYING TO GET THESE FUNDS SPENT AND, AND, UH, THE REST OF THESE BONDS DEPLETED, UH, AS PER WHAT THE TAXPAYERS EXPECT.
BUT, AND IT'S JUST THE ONE MORE NOTE.
YOU KNOW, I, I DID HAVE ONE MORE QUESTION JUST AS IT RELATES TO, UM, THE CITY'S CREDIT RATING.
JUST WANTED TO GET A QUICK UPDATE ON THAT, UH, THAT WANED A LITTLE BIT, UH, IN YEARS PRIOR, BUT I THI I THINK WE'RE IN GOOD SHAPE.
I JUST WANTED TO RECONFIRM THAT WITH THE GROUP HERE, IF POSSIBLE.
[00:25:01]
WE ARE, WE'RE IN GREAT SHAPE.AND, UM, FOR, UH, I'M, I'M, I'M NOT ENTIRELY SURE IF THE COMMISSION WAS MADE AWARE, BUT THE CITY'S, UH, GENERAL OBLIGATION BOND RATING WAS UPGRADED BY FITCH TO AAA LAST YEAR.
UM, AND THAT WAS, UH, IN LARGE PART DUE TO OUR, UM, UH, OUR WORK ON OUR PENSIONS.
AND, UM, SO YEAH, WE ARE AAA RATED BY, UH, S AND P AAA BY FITCH AND AA ONE, WHICH IS, UH, EQUIVALENT OF A, UH, A AA PLUS, UM, BY MOODY'S.
OKAY, ANY OTHER QUESTIONS, COMMENTS? ALRIGHT, THANK YOU.
[3. Staff briefing regarding Capital Spending Report as presented in the Q2 Financial Report. Presentation by Katie Stewart, Manager, Austin Budget and Performance Organizational Excellence, and Yvette Mendoza, Acting Budget and Performance Manager, Austin Budget and Organizational Excellence.]
NEXT WE'RE GONNA HAVE A STAFF BRIEFING, UH, REGARDING THE CAPITAL SPENDING REPORT AS PRESENTED TO THE, UH, Q2 QUARTER TWO FINANCIAL REPORT.LET'S START BY TURNING ON THE MICROPHONE.
UM, GOOD, GOOD AFTERNOON EVERYONE, COMMISSIONERS AND CHAIR.
I HOPE EVERYONE IS HAVING A WONDERFUL DAY TODAY.
I AM THE ACTING, UM, BUDGET AND PERFORMANCE MANAGER.
SO I NEED TO GET ADJUSTED BEFORE I SAY PROJECT MANAGER OR SOMETHING ELSE.
UH, TODAY I HAVE MEGAN BELL, UH, CHIEF ADMINISTRATIVE OFFICER, ALSO WITH BUDGET AND ORGANIZATIONAL EXCELLENCE, AND KATIE STEWART, ALSO BUDGET AND PERFORMANCE MANAGER WITH BUDGET AND ORGANIZATIONAL EXCELLENCE.
SO THANK YOU FOR HAVING ME TODAY TO GIVE YOU GUYS AN UPDATE ON THE QUARTERLY TO SPENDING, UM, AS REPORTED ON THE FINANCIAL REPORT.
UM, MOVING ON TO TODAY'S AGENDA.
SO AS YOU ALL KNOW, WE'RE REALLY DEEP IN BUDGET SEASON, BUT I'M HERE TO GIVE YOU ALL AN UPDATE OF WHERE WE'RE AT WITH CAPITAL SPENDING.
UM, GIVE SPECIFICS ON THE Q2 FINANCIAL REPORT AND THEN GIVE YOU ALL SOME INFORMATION OF SOME RESOURCES THAT WE HAVE, UM, COMING UP ONLINE AND AVAILABLE TO YOU ALL.
UM, SO IN TERMS OF CAPITAL SPENDING OVERVIEW HERE, WE HAVE, UH, WANTED TO GIVE YOU ALL A VISUALIZATION OF WHERE WE'RE, YOU KNOW, THE OVERALL CIP PROGRAM, UM, AND REALLY WHAT IT'S COMPRISED OF.
UM, IF WE'RE LOOK IN THE VISUALIZATION, THE GRAPHS, THE COLORS.
JUST WANNA EXPLAIN THAT REAL QUICKLY AS YOU'RE, AS YOU'RE MOVING FROM DOWN UP, WE HAVE, UM, YOUR AUSTIN ENERGY, AUSTIN WATER AND AVIATION, UM, CAPITAL.
THEN, UM, THIS, THE LIGHTER BLUE IS YOUR PIBS AND THE DARKER UP TOP IS OTHER FUNDING SOURCES AVAILABLE.
UM, FOR THE CAPITAL IMPROVEMENT PROGRAM FOR FISCAL YEAR 26, WE HAVE OUR PIBS ACCOUNTING FOR APPROXIMATELY 12% OF PLAN SPENDING.
SO IF YOU LOOK AT THAT, IT'S, YOU KNOW, RELATIVELY SMALL COMPARED TO OUR OVERALL CIP.
UM, AND IN TERMS OF WHAT WE HAVE FOR THE NEXT FIVE YEARS, PIPS COMPRISE AROUND 7% OF SPENDING FOR FISCAL YEAR 26 THROUGH FISCAL YEAR 30.
SO EVEN SMALLER PORTION OVERALL.
AND, UM, AS WE'VE BEEN TALKING, UM, ACTUAL PLAN SPENDING, UM, WE'RE LOOKING AT THAT OVERALL THROUGHOUT THE YEARS TO REALLY INFORM OUR DECISIONS ABOUT FUTURE APPROPRIATIONS AND, UM, HOW WE'RE DOING ON SPEND AND HOW WE'RE DEVELOPING THOSE SPENDING PLANS OVERALL FOR THE FUTURE FISCAL YEARS.
AND, UM, YOU KNOW, THIS IS NOT A MEASURE OF WHEN WE'RE GONNA COMPLETE PROJECTS.
IT'S REALLY OF THIS IS WHAT WE THINK WE'RE GONNA BE SPENDING THIS YEAR AND THE NEXT COUPLE OF YEARS.
OKAY? SO THERE ARE FLUCTUATIONS THAT HAPPEN FOR DIFFERENT REASONS, THAT'S TO TOTALLY NORMAL.
BUT WE DO LOOK AT, YOU KNOW, THOSE ANOMALIES WHERE YOU HAVE THOSE HUGE VARIANCES TO UNDERSTAND WHAT'S GOING ON AND THEN BETTER INFORM OUR DECISIONS FOR FUTURE SPENDING, APPROPRIATIONS AND PLANNING OVERALL.
UM, SO OUR QUARTERLY FINANCIAL, UH, REPORT IS PUBLISHED
[00:30:01]
ONLINE STARTING THIS FISCAL YEAR.AND THERE'S THE PROVIDED THE LINK AVAILABLE WHERE YOU CAN ACCESS THAT.
AND SO ONLINE RIGHT NOW, YOU CAN FIND BOTH QUARTER ONE AND QUARTER TWO AVAILABLE AND, UM, WHAT THIS REPORT SHOWS.
UM, AND, YOU KNOW, JUST FOR REFERENCE, THAT WOULD BE PAGE 21 TO 23 OF YOUR QUARTER TO, UH, FINANCIAL REPORT, WHERE YOU CAN SEE WE HAVE OUR CAPITAL IMPROVEMENT PROGRAM UPDATES THERE.
AND, UM, HERE, WHAT WE REALLY WANT TO SHOW YOU GUYS IS THAT THESE, WHAT THE REPORT IS SHOWING US IS THAT IT'S INCLUSIVE OF ALL THE DEPARTMENTS THAT HAVE A CAPITAL BUDGET AND INCLUDES ALL FUNDING SOURCES.
SO IT'S NOT JUST EXCLUSIVE TO THE PIBS, IT INCLUDES YOUR CASH, YOUR GRANTS, YOUR LOANS, ANYTHING THAT IS GONNA FUND THE CAPITAL PROJECT AND OVERALL THE CAPITAL PROGRAM.
SO JUST TO HAVE A GOOD UNDERSTANDING.
AND THAT'S RIGHTLY WHY I PRESENTED THE FIRST SLIDE.
12% IS REALLY JUST PIPS FOR AS FISCAL YEAR, UM, 26 WITH ABOUT 32% BEING ALL OTHER FUNDING SOURCES AVAILABLE.
UM, AND AS I MENTIONED PREVIOUSLY, OUR SPEND PLAN IS A SNAPSHOT IN TIME.
SO REALLY WHEN WE'RE DOING OUR BUDGET DEVELOPMENT, WHAT YOU'RE SEEING IN THIS REPORT IN PAGE, YOU KNOW, 21, THAT'S REALLY WHAT WE'RE DEVELOPED FOR THE FISCAL YEAR 26 BUDGET.
AND THAT'S WHAT YOU'RE SEEING HERE.
SO THIS IS FLUID, IT COULD CHANGE AND WHY YOU SEE, YOU KNOW, FROM START OF THE YEAR, END OF THE YEAR, THOSE CHANGES.
SO THESE CAN BE UPDATED MONTHLY, BUT TRADITIONALLY ANNUALLY WHEN THEY'RE PRESENTED THROUGH THE BUDGET PROCESS.
UM, AND OVERALL, WHERE WE'RE AT TODAY, SO WE'RE ABOUT A THIRD SPENT THROUGH THE ESTIMATED SPEND PLAN.
UM, SO HALFWAY THROUGH THE YEAR AND A THIRD SPENT, AND HERE WE HAVE A DEPICTION VISUALIZATION OF THE PIP SPECIFIC SPEND, UM, AS PRESENTED IN THE FORECAST PRESENTATION, BUT IS INCLU PRETTY MUCH IS WHAT NUMBERS UP TO QUARTER TWO.
SO IT'S OVERALL SPENDING AND UP TOP YOU DO HAVE THE 1.02 BILLION AUTHORIZED, BUT AN ISSUED, AND AS THE CITY TREASURER MENTIONED EARLIER, THAT'S GONNA GO DOWN AS SOON AS THE BOND SALES GO THROUGH FOR THE NEXT, UH, FOR THE NEXT YEAR.
AND SO YOU'LL SEE EXPENSES WHERE WE'RE AT TODAY, ENCUMBRANCES AND BALANCES, AVAILABLE BALANCES FOR EACH, UH, BOND PROGRAM.
UH, THAT IS IN REFERENCE TO PAGE 23 OF THE FINANCIAL REPORT.
UM, IT'S JUST, YOU KNOW, NICER GRAPH TO LOOK AT THAN THE TABLE WITH ALL THE NUMBERS.
UM, CAN I ASK A QUESTION? YES, SIR.
UM, WHEN YOU SAY WE'RE, WE'VE SPENT ABOUT A THIRD OF THE PLAN AND WE'RE HALFWAY THROUGH THE YEAR MM-HMM
IS THAT GOOD? UH, IS THAT BECAUSE WE'RE, WE'RE COMING IN UNDER BUDGET OR, UM, I MEAN, I WON'T SAY IT'S GOOD OR BAD.
I MEAN, I THINK THE DEPARTMENTS WOULD BE THE ONES TO BEST SPEAK TO WHY THERE IS LIKE A FLUCTUATION IN THE SPENDING JUST IN TERMS OF WHAT I'M SEEING IN THE NUMBERS.
THAT'S WHAT IS BEING REFLECTED IN THE FINANCIAL REPORTING SYSTEM.
THAT CONTEXT MIGHT BE HELPFUL TO SEE BETWEEN NOW AND OUR NEXT MEETING, IF THAT.
IS THAT SOMETHING YOU CAN FACILITATE, STEVEN, OR LIKE, IF THAT'S SOMETHING I WANTED TO DIG INTO, HOW WOULD, HOW WOULD I GET THAT INFORMATION? I, I, WE'D HAVE TO CERTAINLY DEFINE SPECIFICALLY WHAT THE QUESTION IS.
UM, I KNOW IN THE, THE ALTERNATE PRESENTATION THAT THIS COMMISSION'S RECEIVED, WHERE, UM, WE LOOKED AT THE 20 16, 20 18 AND 2020 BOND PROJECTS SORT OF ON A PROJECT BY PROJECT BASIS, WE'RE ABLE TO SAY EXACTLY WHAT WAS GOING ON WITH EACH OF THOSE PROJECTS AND EX TALK TO THAT STATUS.
UM, PROGRAMMATICALLY WITH THE ENTIRE, UM, PUBLIC IMPROVEMENT BONDS PORTFOLIO WE'RE LOOKING AT NOW, WE WOULD CERTAINLY HAVE TO EXPAND THE, THE APERTURE BEYOND JUST THOSE, UM, THREE BOND ISSUES AND LOOK AT, YOU KNOW, DO A LOT OF DIGGING AROUND TO SEE EXACTLY WHERE EVERYTHING IS IN, IN, IN TIME.
I MEAN, MY POINT BEING, IT, IT'S REALLY, IT'S GOOD AND INFORMATIVE TO GET THE STATUS UPDATES.
I JUST, I WANT THE INFORMATION TO BE MORE MEANINGFUL FOR THIS GROUP
[00:35:01]
SO THAT, YOU KNOW, WE CAN MAKE, HAVE A MORE MEANINGFUL DISCUSSION.I FOLLOW UP WITH A QUESTION BASED ON WHAT YOU ASK.
DO WE, UM, UPDATE THE ESTIMATED SPENDING AS WE DO FOR, FOR INSTANCE, THE OPERATING FUND? EVERY MONTH WE HAVE AN ESTIMATE OF WHERE WE'RE GONNA BE AT THE END OF THE YEAR.
DO WE HAVE AN ESTIMATE FOR THESE PROJECTS? SO RIGHT NOW WE'RE REPORTING WHAT HAS ACTUALLY BEEN SPENT.
DO WE ALSO ESTIMATE NOW WHERE GONNA BE AT THE YEAR END? WE, I'M SURE THERE'S A WAY TO GET THAT INFORMATION.
THE BUDGET AND ORGANIZATIONAL EXCELLENCE ISN'T TRACKING THAT MONTHLY.
UM, BUT THE DEPARTMENTS DO HAVE THE CAPACITY TO UPDATE, SPEND PLANS MONTHLY, AND THAT'S WHERE, YOU KNOW, I WAS MENTIONING THE BEST PEOPLE TO RESPOND TO THAT WOULD BE THE DEPARTMENT SO THAT YOU CAN GET A BETTER UNDERSTANDING OF HOW, WHEN, AND WHY THAT IS HAPPENING.
BUT IN TERMS OF BUDGET AND ORGANIZATIONAL EXCELLENCE, I AM NOT RUNNING A REPORT MONTHLY TO SEE HOW THOSE VARIANCES ARE.
BUT AT THE END OF THE YEAR, WE WILL SEE ALTOGETHER WHAT THAT DEVIATION MAY BE.
THE PROBLEM, OF COURSE, BEING AT THE END OF THE YEAR, IT'S HISTORY AND YOU CAN'T CHANGE HISTORY
AND THAT'S THE REASON IN THE OPERATING FUNDS, WE ESTIMATE CONSTANTLY WHERE WE'RE GONNA BE AT THE END OF THE YEAR AND REPORT THAT STILL, I ASSUME, AND THE PERFORMANCE REPORT.
AND I THINK THE ACCURACY THAT THE BUDGET OFFICE LOOKS FOR IN THOSE ESTIMATES IS 99 POINT SOMETHING PERCENT.
UH, AND I'M JUST POINTING OUT THE DIFFERENCE IN HOW WE HANDLE CAPITAL PROJECTS AND HOW WE HANDLE OPERATING FUNDS.
UM, BUT YEAH, WHEN I'M RUNNING THESE REPORTS, I'M NOT LIKE QUARTERLY LOOKING AT IF THE DEPARTMENT MADE A, A CHANGE AND THEN WHAT THAT SPEND PLAN IS NOW, AND THEN THAT'S WHERE WE'RE AT HERE.
NO, I'M REALLY JUST LOOKING AT WHAT WAS ALREADY REPORTED IN THE APPROVED BUDGET AND I'M COMPARING AGAINST THAT.
SO AGAIN, WHY IT'S VERY FLUID AND, UM, YOU KNOW, DEPARTMENTS ARE BEST TO REALLY SPEAK TO WHY THEY MAY HAVE MADE A CHANGE OR NOT.
BUT I, AND THIS MAY BE A QUESTION FOR BELINDA, BUT I THINK TREASURY AT SOME POINT DURING THE YEAR, UH, I THINK I UNDERSTAND THAT AT SOME POINT DURING THE YEAR, YOU DO ESTIMATE WHAT WE'RE ACTUALLY GONNA SPEND THIS YEAR.
WE LOOK AT, UM, IT, IT WAS KIND OF WHAT I DISCUSSED, UH, PREVIOUSLY, BUT UM, WHEN WE'RE LOOKING AT DEVELOPING THE GENERAL OBLIGATION BOND SALE, WE'RE AT MID-YEAR, RIGHT? SO WE'RE LOOKING AT SPEND THROUGH THAT MID-YEAR POINT, AND BASED ON WHERE THAT SPEND IS IN RELATION TO THEIR SPEND PLANNED, WE HAVE TO PROJECT WHERE WE BELIEVE THEY WILL END UP BY THE END OF THE FISCAL YEAR SO THAT WE CAN FULLY FUND THOSE PROJECTS.
AND THAT'S SO
I THINK THAT DEPARTMENTS ARE GOING TO PROVIDE THEIR OWN SPEND PROJECTIONS, AND THAT'S WHAT THE REPORTING IS FOR THAT'S PROVIDED, AND THAT'S SOMETHING THAT WE'RE ALWAYS GOING TO TAKE INTO CONSIDERATION, BUT WE HAVE TO DEVELOP THE BOND SALE SO EARLY IN THE YEAR BECAUSE WE HAVE TO DETERMINE REQUIREMENTS THAT WILL SET THE DEBT SERVICE TAX RATE FOR THE FOLLOWING YEAR.
COULD I ASK A FOLLOW UP QUESTION ON THAT THEN? UM, SO THE RE I UNDERSTAND THAT THESE ARE TWO DIFFERENT ACTIONS HERE.
UM, THE IDEA THOUGH IS AS A CITIZEN, JUST AS A CITIZEN GOING THROUGH THIS, AND LET'S SAY WE LOOK AT, UH, PAGE 21, UH, WHERE IT LISTS
[00:40:01]
THE TOTAL, UH, BOND UPDATE AND THE PLAN ACHIEVE, OR IF WE LOOK AT THE, UH, PAGE 23 FOR THE PUBLIC IMPROVEMENT BONDS THEMSELVES, I THINK THAT THE ONLY THING HERE IS THAT WHAT WE'RE REALLY TRYING TO GET AT AS FAR AS CONTEXT WE CAN GET FROM THESE REPORTS, IT'S FAIRLY LIMITED FROM ANYBODY'S PERSPECTIVE BECAUSE WE DON'T KNOW WHERE THE ACTUAL TARGET'S GOING TO BE.SO IF WE SAY WE'RE 29%, UH, SPENT OF THE 22 20 22 BOND, UH, ON THE, ON PAGE 23, THAT, THAT'S GOOD TO KNOW BECAUSE WE'RE 33% OF THE THROUGH THE YEAR.
BUT IF WE'RE NOT PLANNING TO REALLY INCREASE THAT MUCH, THAT MEANS IT'S ACTUALLY UNDER REPORTING.
WE'RE DOING PRETTY POORLY FROM THAT PERSPECTIVE, RIGHT? FROM THE TOTAL ACHIEVEMENT THERE.
AND THE SAME THING WOULD GO FOR 21 THAT IF, UH, PEOPLE SEE THESE DIFFERENT SEGMENTS, LIKE, UH, HOUSING AT 39%, AGAIN, THAT'S FAIRLY IN LINE, BUT IF WE'RE KIND OF REACHING THE END WHERE WE EXPECT TO MAYBE NOT HIT EVEN 50% OR WHATEVER THE FIGURE WOULD BE, I THINK THAT WITHOUT THAT CONTEXT, IT, IT'S REALLY KINDA LIMITED AS TO WHAT VALUE WE CAN GET, UH, FROM THESE REPORTS.
AGAIN, YOU KNOW, AND BE ABLE TO PROVIDE ANY KIND OF OVERSIGHT OR ANY KIND OF FEEDBACK TO YOU GUYS THAT'S VALUABLE ON YOUR SIDE AS WELL.
I APPRECIATE THE OTHER COMMISSIONERS JUMPING IN.
I I WAS STRUGGLING TO COMMUNICATE THAT EFFECTIVELY.
THAT'S, UH, UM, I WOULD LIKE TO SAY THAT THE FOURTH QUARTER REPORT, WHERE YOU REPORT WHAT WAS ACTUALLY SPENT IN COMPARISON IS EXTREMELY HELPFUL, UM, THAT, THAT INFORMATION.
UM, BUT UNFORTUNATELY IT'S AT THE, YOU KNOW, IT'S AT THE END OF THE YEAR AND THE YEAR IT'S GONE AND THERE'S NOTHING, YOU KNOW, IF YOU ONLY SPENT 7% OF WHAT YOU SAID YOU WERE GONNA SPEND, YOU CAN'T CHANGE THAT AFTER, YOU KNOW, YOU'RE NOW LOOKING TWO MONTHS INTO THE NEXT YEAR.
UM, BUT THE REPORT IS VERY HELPFUL INFORMATION THAT WE HAVEN'T HAD BEFORE.
YEAH, THE OTHER, WELL SAYING IT'S VERY HELPFUL,
RIGHT NOW IT'S LISTED BY DEPARTMENTS MM-HMM
AND SO TO GET AN IDEA HOW PUBLIC IMPROVEMENT BONDS ARE DOING, YOU'D HAVE TO KNOW WHICH DEPARTMENTS ARE FINANCING THROUGH PUBLIC IMPROVEMENT BONDS AND WHICH ONES ARE USING REVENUE BONDS.
IF THERE WAS, I, I KNOW THAT ANYTIME YOU START GETTING MORE AND MORE GRANULAR, THEN IT, FOR SOME PEOPLE IT BECOMES TOO MUCH INFORMATION AND CONFUSING.
BUT FOR OUR PURPOSES, IT WOULD BE GREAT IF, IF WE HAD JUST THE PUBLIC IMPROVEMENT BONDS, SO WE, WE WOULD, COULD EASILY LOOK AT THAT TOTAL AT THE BOTTOM AND SAY, OKAY, THIS, THIS IS HOW PUBLIC IMPROVEMENT BONDS ARE DOING.
AND WE CAN EXPLORE DIFFERENT OPTIONS OF HOW WE CAN PROVIDE THAT INFORMATION TO YOU IN COORDINATION WITH, YOU KNOW, CDS AND OTHERS.
UM, SO YEAH, THIS REPORT IS JUST WHERE WE'RE AT NOW, YOU KNOW, CAPITAL'S THREE PAGES HERE.
UM, IF THERE'S MORE INFORMATION THAT WE NEED TO EXPEND ON AT ONE POINT, YOU KNOW, WE CAN KEEP THOSE CONVERSATIONS GOING AND EXPLORE OPTIONS SO THAT YOU DO HAVE THE INFORMATION THAT YOU FEEL IS ADEQUATE TO BE ABLE TO MAKE DECISIONS AT THAT POINT.
SO HERE ON OUR NEXT SLIDE, ONE TO PRESENT, UH, RESOURCES THAT, UM, ARE AVAILABLE AND I'LL HAND THAT OVER TO MEGAN TO SPEAK MORE TOWARDS THAT.
AS IVETTE MENTIONED, I'M MEGAN VALLOW, CHIEF ADMINISTRATIVE OFFICER WITH BUDGET AND ORGANIZATIONAL EXCELLENCE AND FORMER LIAISON TO THIS COMMISSION FROM SEVERAL YEARS PAST.
SO IT'S NICE TO SEE A FEW FAMILIAR FACES TODAY.
UM, I'M HERE TO WALK THROUGH AN UPDATE THAT WILL SOON BE ADDED TO THE PUBLIC IMPROVEMENT BOND RESOURCES THAT ARE AVAILABLE IN AUSTIN, TEXAS.GOV.
AND BEFORE WE BEGIN, I'D LIKE TO RECOGNIZE MAN, FIAS AND CAR WHO ARE SITTING BY ME.
AND THEY DEVELOPED THIS NEW DASHBOARD THAT YOU'RE GONNA BE LOOKING AT TODAY.
THEIR WORK IS SIGNIFICANTLY IMPROVED, HIS CLARITY AND ITS USABILITY, UM, AND TRANSPARENCY THAT I HOPE, UH, YOU ALL, UH, APPRECIATE TODAY.
SO, UM, ORIGINALLY IN 2023, WE LAUNCHED THE PUBLIC IMPROVEMENT BONDS, UH, WEBPAGES THAT, UH, PROVIDED MORE TRANSPARENCY INTO BOND SPENDING AT THE BOND YEAR AND PROPOSITION LEVEL, UM, WHICH IT SHOWED AVAILABLE BUDGET, OBLIGATION, ENCUMBRANCES, AND THEN SPENDING OVER TIME PLAN, UH, ACTUAL
[00:45:01]
SPENDING OVER TIME AND PLAN SPENDING OVER TIME IN ORDER TO ADDRESS, UM, RECENT STANDARDS FROM THE FEDERAL GOVERNMENT ON FOR WEB CONTENT ACCESSIBILITY GUIDELINES.WE, UM, BEGAN LOOKING AT CHANGING THOSE WEB PAGES INTO THIS POWER BI DASHBOARD THAT YOU SEE ON THIS SLIDE IN ORDER TO, UM, PROVIDE BETTER, UH, CONTRAST RATIOS, UH, BETTER FEATURES TO MAKE THIS D DASHBOARD ACCESSIBLE TO, TO EVERYONE IN THE COMMUNITY.
AND IT, THE DASHBOARD PROVIDES A COMPREHENSIVE OVERVIEW OF THE PUBLIC IMPROVEMENT BOND FINANCES IN PARTICULAR, AND IT PROVIDES A HIGH LEVEL OF OVERVIEW OF HOW VOTER APPROVED BOND FUNDING IS BEING AUTHORIZED, ISSUED, OBLIGATED AND SPENT OVER TIME.
IT USES THE SAME CORE DATA THAT HAS BEEN SHARED WITH THE COMMISSION OVER THE YEARS.
UM, AND MOST OF THESE DATA POINTS ARE GONNA BE UPDATED ON A ROUTINE SCHEDULE.
MOST OF THE, THE CARDS AND CHARTS YOU SEE ON THE DASHBOARD WILL BE UPDATED MONTHLY AFTER FISCAL CLOSE, UH, WITH THE EXCEPTION OF THE ISSUANCES AND THE ANNUAL SPENDING LINE CHART AT THE BOTTOM.
THOSE WILL BE UPDATED ANNUALLY, UM, TO FOLLOW THE, THE BOND SALES THAT MR. KELLER AND MS. WEAVER WERE MENTIONING EARLIER.
UM, SO THOSE WILL BE UPDATED AFTER, UH, THOSE POINTS IN TIME.
UH, GOING THROUGH EACH ELEMENT ON THE DASHBOARD, STARTING FROM, UM, THE TOP LEFT TO THE BOTTOM RIGHT, UM, YOU'LL SEE THERE ARE FILTERS AT THE TOP RIGHT THAT, UH, ALLOW YOU TO SELECT BETWEEN EACH BOND YEAR AND BOND PROPOSITION.
SO YOU CAN LOOK AT THE BOND COMPREHENSIVELY, THE BOND PROGRAM OVERALL, OR YOU CAN DIVE INTO EACH, UH, YEAR PROPOSITION AS YOU LIKE.
UH, THE TOP LEFT BEGINNING THERE, UH, THIS DASHBOARD SHOWS HOW MUCH BOND FUNDING HAS BEEN APPROVED BY THE VOTERS, HOW MUCH OF THAT FUNDING HAS BEEN ISSUED, HOW MUCH REMAINS TO BE ISSUED, HOW MUCH HAS BEEN SPENT ON PROJECTS, HOW MUCH FUNDING HAS BEEN COMMITTED BUT NOT YET SPENT, HOW MUCH SPENDING IS PLANNED FOR THIS FISCAL YEAR, HOW MUCH SPENDING REMAINS TO MEET THIS YEAR'S TARGETS.
AND THEN FINALLY, HOW MUCH, UH, FUNDING IS EXPECTED TO DECRE DECREASE OVER TIME AS UH, PROJECTS ARE COMPLETED AND FUNDING IS SPENT.
UM, I DO WANNA DRAW YOUR ATTENTION TO THE CHART IN THE MIDDLE.
UM, THE MIDDLE ROW, MIDDLE CHART THAT IS A NEW CHART FOR, UM, THIS, THESE RESOURCES.
AND IT DOES, I THINK, HOPEFULLY SPEAK TO SOME OF THE QUESTIONS.
UH, THE COMMISSION PRESENTED EARLIER ABOUT LOOKING AT PLAN SPENDING VERSUS ACTUAL SPENDING.
UH, THIS, THIS DATA WILL UPDATE MONTHLY AND HOPE WILL GIVE MORE TRANSPARENCY INTO HOW THE CITY OVERALL IS MEETING THOSE TARGETS AT THE BOND YEAR AND PROPOSITION LEVEL, LIKE IVE MENTIONED, UM, THIS IS A GOOD, I THINK A GOOD, UM, OVERVIEW TO LOOK AT HOW WE'RE TRACKING OVER THE YEAR AND THINK, AND IF THERE ARE, UM, AREAS WHERE THIS COMMISSION WOULD LIKE TO FOLLOW UP, UH, FURTHER OR LEARN MORE COULD REACH OUT TO DEPARTMENTS TO LEARN MORE ABOUT, UM, HOW THAT SPENDING IS TRACKING.
UM, ALTOGETHER THIS, THIS UPDATE WHERE WE HOPE, UH, STRENGTHENS TRANSPARENCY, ACCESSIBILITY, AND USABILITY.
AND OUR GOAL IS TO PROVIDE A CLEAR AND MORE ACCESSIBLE TOOL FOR UNDERSTANDING THE CITY'S BOND PROGRAMS, BOTH, BOTH FOR THIS COMMISSION AND THE, AND THE BROADER COMMUNITY.
UM, ONCE IT IS AVAILABLE, WE'LL SEND IT OUT VIA EMAIL TO YOU DIRECTLY, AND THEN IT WILL, THERE WILL BE A, THERE WILL REMAIN A LINK ON THE BOND OVERSIGHT COMMISSION WEBPAGE ON AUSTIN TEXAS.GOV THAT WILL LINK DIRECTLY, UH, TO THIS INFORMATION.
BUT NOW I'M GONNA HAVE TO SPEND MORE TIME ON THE COMPUTER
UM, AND THAT IS THE END OF OUR PRESENTATION, SO IF ANYBODY HAS QUESTIONS, HAPPY TO TAKE THOSE.
ONE QUESTION, COULD YOU SPEAK SPECIFICALLY, GOING BACK TO THE SLIDE THAT YOU HAD UP TO THE FY 26 PLAN VERSUS ACTUAL SPENDING GRAPHIC AND YEAH, THAT ONE.
THE, THE REQUEST WAS, COULD YOU SPEAK SPECIFICALLY TO THAT BOX THAT'S LABELED FY 26 PLAN VERSUS ACTUAL SPENDING? YES.
SO, AND HELP ME INTERPRET THAT.
SO THAT, THAT GAUGE, UM, WHAT WE HAVE THERE IS FOR FY 26, IT SHOWS IT, UH, FOR EACH MONTH IT WILL UPDATE TO SHOW HOW MUCH SPENDING HAS OCCURRED THROUGHOUT THE FISCAL YEAR COMPARED TO THE SPEND PLANS THAT ARE ENTERED INTO THE FINANCIAL SYSTEM, UH, DURING BUDGET DEVELOPMENT.
AND SO, SO WHAT IS IT SAYING RIGHT NOW? RIGHT NOW THIS IS PROVISIONAL DATA.
UM, SO I, IT, I THINK IT'S VERY SIMILAR TO WHAT THAT PRESENTED EARLIER, BUT AS I THINK MY GLASSES FOR THIS ONE, UM, WERE OUT.
[00:50:01]
IT'S A THIRD YES.ABOUT A THIRD OF THE WAY THROUGH THE YEAR OR THIRD OF WAY THROUGH SPENDING, UH, WHAT'S THE 47.67% AND YEAH, THESE VALUES RIGHT NOW ARE NOT TRUE REPRESENTATIVE VALUES.
OH, THESE ARE, YEAH, NO, THATS WHY I HAVE THAT NOTE RIGHT THERE.
SOMEONE DOESN'T NEED THEIR NOTES.
UM,
IT'S NOT A TRUE REPRESENTATIVE AND BUT THAT WOULD, THAT WOULD GIVE US THE NUMBER THAT YOU WERE JUST TALKING ABOUT THAT WAS REFERRED TO EARLIER AS BASICALLY 33% HALFWAY THROUGH THE YEAR.
SO WHEN WE HAD THAT DASHBOARD MM-HMM
YEAH, YOU'LL HAVE THAT, UM, TO HELP WITH THAT INFORMATION.
AND THEN, UM, THAT WILL ALSO BE UPDATED ANNUALLY.
SO RIGHT NOW YOU'RE SEE, YOU'RE GONNA SEE FISCAL YEAR 26.
WE'RE IN FISCAL YEAR 26 AS WE TRANSITION TO THE NEXT FISCAL YEAR, YOU'LL SEE FISCAL YEAR 27 OVERALL.
YOU'LL STILL HAVE ALL THAT OTHER INFORMATION, BUT THAT'S REALLY THE ONE BOX THAT'S GONNA BE FOR THAT FISCAL YEAR THAT WE'RE IN CURRENTLY.
SO WE'RE, YEAH, WE'RE WORKING THROUGH ALL THE TWEAKS.
WE'RE MAKING SURE ALL, EVERYTHING IS GOOD.
SO THAT DATA IS REPRESENTATIVE OF WHERE WE'RE AT TODAY.
AND SO WE JUST WANTED TO SEE YOU SHOW YOU WHAT TO EXPECT.
SO ALSO KEEP IN MIND THAT WHAT YOU'RE SEEING HERE IS NOT GONNA BE A HUNDRED PERCENT OF WHAT YOU'RE SEEING.
THERE'S GONNA BE MAYBE SOME NAME CHANGES OR SOMETHING HERE AND THERE SO THAT YOU'RE AWARE, BUT, YOU KNOW, JUST WANTED TO LET YOU KNOW THAT IT'S COMING.
SO, I'M SORRY, I DO HAVE ONE FOLLOW UP.
IS, IS THERE ANYWHERE IN HERE WHERE WE CAN SEE DEVELOPMENTAL MILESTONES? UH, LIKE FOR ANY GIVEN PROJECT? UM, NOT IN THE FINANCIAL REPORTING THAT WE DO.
THAT, AGAIN, THAT WILL BE SPECIFIC TO THE DEPARTMENTS.
WHERE YOU CAN ASK THEM IF THERE'S A SPECIFIC PROJECT IN MIND THAT YOU HAVE INTEREST IN, UM, THEY WOULD BE ABLE TO PROVIDE THE BEST INFORMATION AT THAT POINT IN TIME.
THERE'S ALSO A BUTTON AT THE BOTTOM, UH, RIGHT HAND OF THE DASHBOARD THAT LINKS TO PROJECT DATA IN A, A TABLE FORMAT.
SO IT WILL DRILL DOWN TO THE, THE PROJECT LEVEL AND YOU CAN SEE THE FINANCIAL INFORMATION, UM, FOR EACH PROJECT.
UH, I JUST WANTED TO CLARIFY SOMETHING YOU SAID EARLIER.
UH, YOU, YOU SAID THE, UM, PLAN VERSUS ACTUAL SPENDING, THE ACTUAL NUMBERS ON THE SITE THAT WE'LL GET, YOU SAID THAT WAS GONNA BE UPDATED MONTHLY? YES.
AND IT WAS, UH, WHICH ONE OF THESE WAS THE ONLY ONE THAT WAS GONNA BE ANNUALLY? NO, THE EXPENSES WILL BE MONTHLY.
AND THAT'LL BE AT THE FISCAL, UM, MONTH END CUTOFF.
AND THEN ANNUALLY IS THE PLAN SPENDING AND THE AUTHORIZED, BUT ISSUED, AND IT'LL BE THE PLANNED SPENDING PER WHAT WAS APPROVED IN THE BUDGET.
IT, THE CHARTS THAT START WITH IT, UM, ANNUAL AT THE BEGINNING ARE THE ONES THAT WILL UPDATE ANNUALLY.
UM, AND THE, IT'LL INCLUDE THE ISSUANCES, SO THE SECOND FROM THE LEFT ON THE TOP AS WELL AS THE, UM, THE ONE ON THE FAR RIGHT IN THE MIDDLE.
UH, AND THEN THE BOTTOM, THE BOTTOM CHART AS WELL.
THE LINE CHART UPDATES ANNUALLY AS WELL.
AND I'M SORRY, BUT THIS IS LIVE IN THIS FORMAT NOW.
THEY'RE ALSO TOOL TIPS, LITTLE EYES ON EACH CARD THAT DESCRIBE EACH, UH, CHART AND, UM, HOW IT CAN BE USED TO LEARN MORE ABOUT THE DATA.
SO WHEN YOU'RE INTERACTING WITH THE LIVE DASHBOARD, YOU CAN CLICK ON THOSE LITTLE EYES TO LEARN TO LEARN MORE ABOUT HOW OFTEN THE CHART'S UPDATED AND, AND WHAT IT REPRESENTS.
DO YOU KNOW WHEN, WHEN IT WILL GO LIVE? YES.
I THINK IT'LL, IT WILL BE SOON.
HOPE, UH, HOPEFULLY NEXT FEW WEEKS.
IS THAT THE LITTLE INFO SYMBOL THAT I SEE? ARE YOU ASKED ABOUT MILESTONES? ARE MILESTONES STILL AVAILABLE ON E CAPRI? UH, PROJECT BY PROJECT? YEAH.
SO THAT INFORMATION IS AVAILABLE IF YOU CAN FIND YOUR WAY TO E CAPRI IS ONLINE, RIGHT? IT'S A, A DATABASE THAT HAS MILESTONES, PROJECT BY PROJECT ALL THE WAY THROUGH AND WHERE PEOPLE, WHERE THAT PROJECT IS ON REACHING SOME DESIGNATED MILESTONES.
THIS GROUP HAS TALKED SO MUCH ABOUT E CAPRI.
I'VE BEEN TRYING TO AVOID IT, BUT I THINK IT'S TIME I JUST DIVE IN.
I, UH, I THINK IT WOULD BE HELPFUL.
I THINK IT'S SUPER INFORMATIVE.
THANKS FOR THE TEAM FOR PUTTING THIS TOGETHER.
UM, I THINK IT WOULD BE, UH, TO THE POINT TO INCLUDE A LINK TO THAT OTHER DATABASE.
SO IF FOLKS WANTED TO CLICK IN AND SEE THE DETAILS, IT'S, THERE WOULD BE A SOMEWHAT SEAMLESS IT TRANSACTION DATA.
IF YOU LOOK AT THE VISUAL AT THE VERY BOTTOM, IT SAYS PROJECT DATA, IS THAT WHAT IT SAYS? YEAH, PROJECT DATA.
SO WHEN IT'S ACTIVE AND YOU CLICK ON IT, IT'LL TAKE YOU TO ANOTHER TAB AND IT'S
[00:55:01]
GONNA LIST ALL THE PROJECTS, WHAT'S THE PROJECT ID, WHAT THE PROJECT NAME IS, AND ALL THE FINANCIAL, THAT PRETTY MUCH ROLLS UP INTO WHAT YOU'RE SEEING IN THE FIRST TAB VISUALLY.WILL THAT, THAT INCLUDE THE BENCHMARKS THAT ARE IN CAPRI? UM, I'M NOT SURE.
I WOULD HAVE TO FOLLOW UP TO SEE WHAT WE ACTUALLY HAVE IN THE COLUMNS, BUT, UM, ONCE YOU GET TO THAT TAB, YOU'LL BE ABLE TO GO TO ANOTHER LINK WHERE YOU CAN ACTUALLY EXPORT AND DOWNLOAD ALL THE INFORMATION, UM, SO WE CAN SEE WHAT WE HAVE AND TALK THROUGH IT.
UM, AND THEN AS YOU KNOW, TIME PROGRESSES AND IF THERE'S MORE INFORMATION, AGAIN, WE'RE ALWAYS OPEN TO A CONVERSATION OF WHAT INFORMATION IS NEEDED AND HOW WE CAN ASSIST TO BETTER INFORMED DECISIONS.
AND THE VALUE OF THE BENCHMARKS BEING, YOU CAN TELL IF A PROJECT IS EVEN FROM THE VERY BEGINNING, RUNNING BEHIND IF IT'S NOT MAKING THE BENCHMARKS THAT WERE LAID OUT.
SO IT'S NOT, IT'S NOT HISTORY.
IT'S, UM, THE PROJECT AS IT'S BEING COMPLETED.
I MEAN, THIS TELLS US IN TERMS OF TIME HOW WE'RE PERFORMING, BUT WE WANT TO KNOW HOW THE ACTUAL PROJECT IS.
THERE'S ANOTHER RESOURCE WE'LL INCLUDE WHEN WE SEND, UH, THIS DASHBOARD TO YOU ONCE IT GOES LIVE.
UH, IT'S CALLED THE CAPITAL PROJECTS EXPLORER.
UM, WELL THAT, THAT SITE'S, UH, MORE SPECIFIC TO PROJECT LEVEL DATA AND IT HAS A LITTLE MORE DETAIL THAN YOU'LL FIND ON THE FINANCIAL DASHBOARD.
IT WILL HAVE, UM, WHETHER WHAT STATUS THE PROJECT IS CURRENTLY IN AND WHETHER IT'S IN CONSTRUCTION OR NOT.
UM, IT WILL BE ONLY FOR ACTIVE PROJECTS.
SO WOULDN'T, WOULDN'T SHOW ANY OF THE CLOSED FROM PROJECTS, BUT IT WOULD, UM, HAVE A LITTLE MORE DETAIL, UH, REGARDING THE, THE OPEN AND ACTIVE PROJECTS.
CURIOUS, JUST, JUST ONE LAST QUESTION AROUND THE, THE GRAPHICS THERE.
IS THIS, WERE THOSE, UH, AI, UH, AI CREATED? NO.
[4. Discussion and action to approve a recommendation to Council regarding the 2026 Bond Election.]
HAVE THE DISCUSSION IN ACTION TO APPROVE A RECOMMENDATION TO COUNCIL REGARDING THE 2026 BOND ELECTION.ALRIGHT, SO I GUESS WE MOVE ON TO FUTURE AGENDA ITEMS. NO, I JUST DIDN'T KNOW IF THIS BODY WAS GONNA WANNA DISCUSS THAT AS A WHOLE.
UM, AND THEN YEAH, WE DON'T HAVE TO.
NO, NO, BECAUSE Y'ALL DISCUSSED IT LAST, LAST MONTH, RIGHT.
AND THERE'S TWO PACKAGES GOING FORWARD.
HEY, GOOD AFTERNOON, MARCUS HAMMER, ASSISTANT DIRECTOR OF CAPITAL DELIVERY SERVICES.
SO I THINK WE'RE JUST LOOKING FOR A QUICK UPDATE ON BOND AND WHERE WE'RE AT.
WE DO HAVE TWO PACKAGES THAT ARE, THAT WERE PRESENTED, UM MM-HMM
AT THE MAY 19TH, UM, WORK SESSION TO COUNCIL.
SO ONE OF 'EM WAS A $750 MILLION PACKAGE.
AND THE OTHER ALTERNATIVE SCENARIO WAS A $390 MILLION SCENARIO, WHICH WAS INCLUSIVE OF TRANSPORTATION, UH, PARKS, AND THEN A FEW COMMUNITY FACILITIES.
DO WE NEED TO TAKE ACTION ON ANYTHING? I KNOW SOMETIMES WE IN THE PAST HAVE DONE RECOMMENDATIONS.
THAT WOULD BE ENTIRELY UP TO YOU AS A BODY IF YOU GUYS WANTED TO COME FORWARD WITH THE RECOMMENDATION, IF NOT.
YEAH, THERE'S, I THINK WE'RE OKAY.
WE'LL SEE HOW THE COUNCIL'S GOING TO WRESTLE THIS ONE.
[FUTURE AGENDA ITEMS]
AGENDA ITEMS, ANY SUGGESTIONS OUT THERE? I'D LIKE TO, I WOULD PERSONALLY LIKE TO FOLLOW UP ON THE RESOLUTION THAT WE DID LAST TIME WHEN WE LOOKED AT THE FOURTH QUARTER REPORT AND, UH, LOOKED AT DEPARTMENTS THAT HAD SPENT, UM, WELL, SPECIFICALLY LESS THAN 75%, UH, THEIR SPEND PLAN.I WOULD LIKE TO HEAR FROM PUT, UH, SOME
[01:00:01]
OF THOSE DEPARTMENTS IN OUR AGENDA SO THEY COULD COME IN AND TALK TO US ABOUT THE PROBLEMS THAT THEY HAD IN SPENDING, WHAT HAD BEEN PLANNED.OH, THE FOLLOW UP ON THE RESOLUTION THAT Y'ALL PASSED.
SO, YOU KNOW, AS, AS, AS HAS POINTED OUT IN THE PREVIOUS DISCUSSION, WE'VE TALKED ABOUT THE MONEY, BUT THAT WOULD ENABLE US TO ACTUALLY TALK ABOUT THE PROJECTS.
AND IF YOU, UM, IF YOU SPENT LESS THAN 75% OF, UH, WHAT YOU HAD PLANNED TO SPEND, HOW, WHAT HAPPENED WITH THE PROJECT, WHERE IS THE PROJECT, WHAT ISSUES DID YOU RUN INTO? AND THE PURPOSE BEING, UM, TO SEE IF, IF THERE ARE, IF THERE'S ANY SIMILARITY BETWEEN THE ISSUES THAT DEPARTMENTS ARE RUNNING INTO, UM, IS IT ALL DESIGN PROBLEMS THAT ARE CAUSING DELAYS? IS IT ALL ALL CONSTRUCTION PROBLEMS? PERMITTING, PERMITTING, UM, APPROVAL, WHATEVER? UH, WE CAN'T, IT'S HARD TO MAKE A JUDGMENT ON WHERE THE BOND PROGRAM IS, BUT ONLY LOOKING AT THE DOLLAR NUMBERS.
UH, AND, UH, IT SEEMS LIKE A LOGICAL PLACE TO, TO LOOK FOR WHERE PROBLEMS ARE, IS THOSE DEPARTMENTS THAT ARE IDENTIFIED AS NOT HAVING MET THEIR SPENDING PLAN.
SO, SO ARE YOU KIND OF ASKING FOR, I GUESS, A RETROSPECTIVE OF EVERY, EVERY DEPARTMENT THAT HAS BELOW THE 75% SPEND TO GIVE A REPORT, LIKE KIND A RETROSPECTIVE KINDA REPORT OF WHY THEY GOT, THEY'RE SO LOW EVERY TIME TO US, OR I, THERE, AS I REMEMBER, THERE MAY BE FIVE OR SIX OF THOSE DEPARTMENTS AND MAYBE HAVING THREE AT A TIME COME IN AND TALK ABOUT, YOU KNOW, THEIR PROJECTS.
SO THE, THE NUMBERS DON'T EVEN TELL YOU WHAT THE PROJECT IS AND WHAT IS THE PROJECT AND, UM, WHAT WERE THE ISSUES THAT YOU ENCOUNTERED THAT MADE IT DIFFICULT TO REACH THE SPENDING PLAN? THERE MAY BE SOME VERY EASY ANSWERS TO THE QUESTIONS, BUT TRYING TO SEE IF THERE'S ANY SIMILARITY THAT'S, UH, RUNNING ACROSS DEPARTMENTS.
I THINK IT WOULD BE HELPFUL, UM, AND INFORMATIVE FOR THIS GROUP.
I, I, THE QUESTION IN MY MIND IS HOW, HOW DO WE ACTION THAT? SO IS THAT SOMETHING WE, WE WORK WITH CDS TO FACILITATE? UM, SEEMS LIKE WE'RE ALREADY MEETING AT A CADENCE WHERE IT WOULD, WHERE WE COULD FACILITATE THAT INTERACTION, BUT I, I JUST DON'T KNOW WHAT THE NEXT STEPS ARE.
THE NEXT STEP MIGHT BE A RECOMMENDATION TO COUNSEL IF, FOR EXAMPLE, IT, YOU KNOW, WE HEAR FROM MULTI DEPARTMENTS THAT THEY'RE HAVING A SPECIFIC ISSUE AND A RECOMMENDATION, UH, TO COUNCIL THAT THE CITY EXPLORE WHAT'S CAUSING THIS ISSUE, HOW IT CAN BE RE IS IT A QUESTION OF RESOURCES, IS IT A QUESTION OF PROCESS PLANNING? PLANNING DESIGN? YEAH.
WE'LL, WE'LL WORK ON TRYING TO FLUSH THAT OUT AND IDENTIFY THOSE THAT WE'D LIKE TO HEAR FROM
SO YOU AND I CAN WORK ON THAT.
ANYBODY HAVE ANYTHING ELSE FOR FUTURE AGENDA ITEMS? OKAY.
UH, CHAIR, WHAT'S ON THE SCHEDULE FOR NEXT WEEK? WE KNOW WE ARE ON SUMMER BREAK FOR JULY AND AUGUST, SO WE WILL NOT RECONVENE UNTIL SEPTEMBER.
UM, JUST REMIND ME IF WE NEED TO ESTABLISH A WORKING GROUP BETWEEN NOW AND THEN WE COULD, RIGHT? MM-HMM
IF THERE ARE NO OPPOSITION, I CONSIDER US ADJOURNED AND ENJOY YOUR SUMMER.