[00:00:05]
I'D LIKE TO CALL THE MEETING TO ORDER.
WE HAVE MAYOR PARTON AND COUNCILLOR JOINING.
VIRTUALLY ONLINE WOULD LIKE TO MAKE A MOTION TO ALLOW THEM PARTICIPATE VIRTUALLY.
MOTIONS BEEN MADE BY COUNCILOR HARRIS AND SECONDED BY COUNCILOR POWELL.
MAYOR PARK, CAN YOU PLEASE SHARE, UM, WHY YOU'RE JOINING US VIRTUALLY AND WHERE YOU'RE LOCATED AS WELL AS COUNCILOR JOIN AFTERWARDS? SURE.
I AM WITH MY NATIONAL GUARD UNIT IN VIRGINIA BEACH.
THIS IS RITA JOINER AND I'M AT MY HOME IN HOPEWELL.
UH, AND I'M PARTICIPATING REMOTELY DUE TO MEDICAL ISSUES.
COUNCILOR D COUNCILLOR PAOLO? YES.
I KNOW IT'S NOT ON HERE, BUT JUST FOR, UM, RECORD KEEPING.
IS THERE ANYONE LIKE TO APPROVE THE MOTION FOR THE AGENDA FOR TONIGHT? TO WHO? DO WHAT? APPROVE THE AGENDA TONIGHT.
IS THERE ANY RECOMMENDATIONS TO MAKE THE AMENDMENT FOR CLOSED SESSION? BECAUSE I THOUGHT THAT'S WHAT WAS ADDED TO IT.
YOU'RE GONNA AND DO IT AFTERWARD.
GO AND NOT ADD IT TO THIS ONE.
[Additional Item]
ALL MOTIONS ARE MADE TO APPROVE THE AGENDA AS WRITTEN.SECONDED BY COUNCILLOR HOLLOWAY.
[Special Business]
SB ONE FINANCES COMMITTEE REPORT.BANKER, MADAM VICE MAYOR
UM, SV ONE FINANCE COMMITTEE REPORT.
MAKER TONIGHT WE HAVE A, UH, THIS IS THE FINANCE COMMITTEE MEETING.
WE WILL HAVE A REPORT FROM UM, STACY JORDAN, WHO, WHO IS OUR, UM, CFO AND THEN THE TREASURER'S REPORT BY MS. MAYA BOWL.
GOOD MAYOR, VICE MAYOR, MEMBERS OF COUNCIL.
THIS IS THE NOVEMBER FINANCE COMMITTEE REPORT.
CITYWIDE REVENUES FOR NOVEMBER AREN'T TRENDING 1.72% OR 6.9 MILLION HIGHER FOR 25 VERSUS 24.
EXPENSES ARE TRENDING 1.59 HIGHER OR 2.9 MILLION FOR 25 VERSUS 24.
THERE IS FOR REAL ESTATE TAXES, 2.9.
AND UNRECORDED REVENUES PER THE TREASURER'S OFFICE.
MS. BOLAND WILL ELABORATE ON THAT.
UM, WHEN SHE COMES UP TO SPEAK.
SLIGHT DECREASE DUE TO COLLECTIONS AS FAR AS PERSONAL PROPERTY, MACHINERY AND TOOLS, P-P-T-R-A AND OTHER TAXES ARE CONSISTENT.
SLIGHT DECREASE FOR THE USE OF MONEY AND PROPERTY DUE TO INTEREST INCOME CHARGES FOR SERVICES.
THERE'S A SLIGHT INCREASE DUE TO ON TIME BILLING.
ANY QUESTIONS ON THIS SLIDE? SLIDE FIVE.
WE'RE GONNA GO THROUGH THE GENERAL FUND.
GENERAL FUND FOR NOVEMBER IS TRENDING 9 44.
944,000 HIGHER IN REVENUES FOR 25 VERSUS 24.
EXPENSES FOR 25 ARE TRENDING 0.9 OR 2.5 MILLION HIGHER THAN 24.
AGAIN, KEY DUE DATES FOR THE CITY ARE DECEMBER, FEBRUARY, JUNE.
SO WE JUST WENT THROUGH OUR FIRST HALF OF THE REAL ESTATE.
OUR NEXT UPCOMING DUE DATE WILL BE FOR PERSONAL PROPERTY AND THEN OF COURSE REAL ESTATE FOR THE SECOND HALF IN JUNE.
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DIRECTOR JORDAN, I'M SORRY, I GO AHEAD.DO YOU HAVE THE PERCENTAGE, UH, FOR THAT FIRST ONE, THE GENERAL FUND, DO YOU HAVE THE PERCENTAGE FOR THAT OR JUST YOU JUST HAVE THE LETTER? I HAVE THE, BOTH THE PERCENTAGES.
DO YOU KNOW OFF? NOT OFF THE TOP OF MY HEAD, NO SIR.
IN REGARDS TO THIS SLIDE IN THE SAME QUESTION APPLIES TO THE SLIDE BEFORE WITH THE CHART, BUT YOU DON'T HAVE TO, YOU DON'T HAVE TO MOVE THIS PICTURE.
UM, I UNDERSTAND THE COMPARISON IN, IN LOOKING AT FISCAL YEAR 24 VERSUS 25.
UM, CORRECT ME IF I'M LOOKING AT THIS WRONG.
SO EVEN THOUGH IN COMPARISON TO LAST YEAR, THE REVENUES IN THIS PARTICULAR SIDE IS ALMOST A MILLION DOLLARS HIGHER, THE SPENDING IS $2.5 MILLION MORE.
SO DOES THAT HAVE A, A NET, LIKE A DEFICIT THERE OR IS IT STILL EQUAL OUT? WAS IT ACTUAL ABOVE APPROPRIATION? IT PRETTY MUCH EQUALS OUT BECAUSE THIS YEAR YOUR FISCAL YEAR BUDGET WAS HIGHER THAN IT WAS FOR 24.
THE OPERATING BUDGET WE ADOPTED.
ENTERPRISE FUNDS FOR NOVEMBER IS TRENDING 3.57 OR 4 MILLION HIGHER IN REVENUES FOR 25 VERSUS 24.
EXPENSES FOR 25 WERE TRENDING 13.71% OR 4.2 MILLION LESS THAN EXPENSES IN 24 REVENUE SHOWS A REFLECTION OF ON TIME BILLING VERSUS LAST YEAR.
AND EXPENSES DECREASE STEMMING FROM A REDUCTION OF EMERGENCY REPAIRS COMPARED TO LAST YEAR.
SLIDE A IS JUST A DETAILED BREAKDOWN OF 24 VERSUS 25 FOR THE ENTERPRISE FUND SCHOOLS.
SCHOOLS FOR NOVEMBER IS TRENDING 0.68% OR 761,000 LESS IN REVENUES FOR 25 VERSUS 24.
EXPENSES ARE TRENDING 3.22% OR 3.7 MILLION HIGHER IN 25 VERSUS 24.
WE JUST HAVE A SLIGHT DECREASE, UM, IN RECEIVING SOME OF THE FEDERAL AND STATE FUNDING FOR THE SCHOOLS AS WELL AS CHARGES FOR SERVICES.
SO YOU SAID THERE'S BEEN A DECREASE.
IT'S JUST A TIMING OF WHEN THEY'RE RECEIVING FUNDING FROM THE STATE AND WHEN IT'S POSTED THEY'RE STILL GONNA RECEIVE THE SAME AMOUNT AS THEY'RE POSTING.
WHAT WHAT? THIS IS A TIMING ISSUE OF WHEN IT'S POSTED.
SO IT'S JUST WHEN IT'S POSTED AS REVENUES ARE RECEIVED, IT'S HAS TO BE POSTED IN THE SYSTEM.
IT'S JUST THE TIMING AND THE POST IN, YES.
SO THIS IS BASED OFF OF SYSTEM INFORMATION, SO, OKAY.
I THOUGHT THEY NO, NO, NO, NO, NO SIR.
IT'S BUDGET TO ACTUALS BY DEPARTMENT FOR NOVEMBER.
A FEW DEPARTMENTS ARE OVER CITY MANAGERS.
AGAIN, IT'S DUE TO RBG CONSULTANT INVOICES.
INFORMATION TECHNOLOGY IS DUE TO IT CONTRACTS.
A LOT OF THESE CONTRACTS YOU HAVE TO PAY IN FULL FOR THE FISCAL YEAR, BUT IT WILL BALANCE ITSELF OUT AS THE YEAR PROGRESSES.
AND THEN THE MARINA HAS INCREASED IN EXPENSES AS A PERCENTAGE, UM, DUE TO A LOT OF REPAIRS AND UTILITIES DONE FRONT.
OTHER THAN THAT, EVERYTHING ELSE SEEMS IN LINE.
DATA INTEGRATED COLLECTION REPORT FOR OCT FOR NOVEMBER IS AT 88% LOWER THAN IT HAS BEEN FOR SEPTEMBER AND OCTOBER.
UM, COLLECTION SEEMS TO BE LOWER THAN IT HAS BEEN FOR THE PREVIOUS TWO MONTHS.
USUALLY THE CITY'S BEEN AROUND HIGH NINETIES, BUT THIS TIME IT'S ONLY THE 88.
I CAN UNDERSTAND WHAT YOU SAID.
USUALLY BEEN THE HIGH NINETIES.
THE COLLECTION RATES FOR THE CITY FOR DATA INTEGRATORS FOR UTILITY HAS BEEN ROUGHLY LIKE 90 MID NINETIES FOR NOVEMBER.
HOWEVER, IT DID DROP TO IN 88.
SO THEY'RE HAVING TROUBLE DOING DELINQUENCY COLLECTIONS IN NOVEMBER AGAIN.
YEAH, I, I WOULD, I WOULDN'T LIKE TO REALLY SPECULATE BUT I PROBABLY MOST OF THE TIME WHEN IT COMES TO AROUND THE HOLIDAY TIMES IT'S HARDER TROUBLE.
THEY HAVE A HARDER TIME COLLECTING BECAUSE PEOPLE WOULD RATHER, YOU KNOW, DO THANKSGIVING
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OR CHRISTMAS THAN, YEAH.ACCOUNTS PAYABLE FOR NOVEMBER.
NUMBER OF INVOICES RECEIVED 1,462.
THE DOLLAR AMOUNT PROCESSED FOR THE MONTH OF NOVEMBER IS 4.7 MILLION DEBT SERVICES PAID FOR NOVEMBER RUS BANK ACCOUNTS AND 530,000.
THAT ENDS THE FINANCE COMMITTEE REPORT FROM FINANCE.
NEXT MONTH WE'LL TALK ABOUT AN UPDATE FOR 21 THROUGH 24 AFR AND OUR SECOND QUARTER PRESENTATION.
ANY QUESTIONS? ANY QUESTIONS FOR DIRECTOR JORDAN? OKAY, THANK YOU.
GOOD AFTERNOON LADIES AND GENTLEMEN.
I'M GONNA PRESENT ON BEHALF OF THE TREASURER'S OFFICE AND THE FIRST LINE I'M GONNA START WITH IS GONNA BE THE REAL ESTATE COLLECTION REPORT.
AND AS YOU CAN SEE AS FAR AS THE 2022 YEAR, WE'RE AT 97.3%, UM, I'M SORRY, 97.03% COLLECTED ON 2022.
UM, IT'S LITTLE SLIGHTLY LOWER.
PERSONAL PROPERTY IS STILL IN HOUSE.
IT WILL BE TURNED OVER TO THE COLLECTION AGENCY AT THE BEGINNING OF THE YEAR.
BUT WE HAVE BEEN TRYING TO GET A CITIZENS ENOUGH TIME TO TAKE CARE OF 2023 'CAUSE WE'RE IN THE PROCESS OF GETTING 2024 OUT.
CAN YOU SLOW DOWN ONE SECOND? 'CAUSE I THINK THEY'RE BEHIND THE SIDE.
CORRECT? WHEN YOU'RE SPEAKING.
THIS ALL ON THE SAME FIRST LINE? SHE ALREADY COVERED THIS ONE.
I THINK SHE'S ON ANOTHER SIDE AND THE OLD COLLECTIONS.
WHAT SIDE ARE YOU ON? 'CAUSE I'M GONNA BE TRANSPARENT.
I BROKE MY GLASSES SO I
SO YOU'RE, YOU'RE SAYING THAT YOU WERE A LITTLE, UM, SOMETHING ABOUT THE COLLECTION WAS A LITTLE BIT BEHIND, YOU SAID 97% FOR 2022.
JUST WANNA SCROLL DOWN TO THAT SECTION SO WE CAN SEE THAT.
OKAY, SO 2023 PERSONAL PROPERTY IS WHERE WE'RE SEEING THAT SLIGHTLY LOWER AT 75, 75 0.54, WHICH IS DROPPING THE COLLECTION REPORT DOWN TO 95.78 VERSUS 2022.
2022 IS WITH THE COLLECTION AGENCY.
THIS IS PERSONAL PROPERTY, BUT WE HAVE NOT TURNED 2023 OVER TO THE COLLECTION AGENCY YET.
WE ARE IN THE PROCESS OF GETTING THE 2024 BILLS OUT.
SO WE HAVE NOT TURNED THE 2023 OVER, WHICH IS GOING TO HELP WITH THAT 75.54.
WHERE, WHERE IS THAT AT ON YOUR PRESENTATION? I KNOW YOU DON'T HAVE YOUR GLASSES, BUT ON YOUR PAPER ONE THE REAL ESTATE COLLECTION REPORT.
THAT'S THE ONE THAT WAS UP THERE.
YOU ON THE RIGHT ONE? IT'S AT THE BOTTOM TO THE RIGHT.
YOU SAW PERSONAL PROPERTY IN 2023.
ALL RIGHT, SO THE THIRD ROAD DOWN IS SEVEN 5.5%.
THAT'S WHAT YOU WERE SPEAKING TO ABOUT.
AND THAT IS STILL IN HOUSE, SO WE DO HAVE, UM, IN RECEIVABLES THAT NEED TO BE TURNED OVER TO THE COLLECTION AGENCY AND WILL BE OKAY.
I WAS JUST TRYING TO FOLLOW UP.
AND SO WE, UM, ONCE THOSE TURNED OVER, I DO BELIEVE THAT'S GONNA BUMP UP THAT 2023 MM-HMM
WE HAVE JUST, UM, LIKE I SAID, WE'RE GOING INTO THE BILLING FOR PERSONAL PROPERTY AND PUBLIC SERVICE.
THOSE COLLECTION REPORT, UM, NUMBERS ARE DOWN BECAUSE WE'RE JUST STARTING THE BILLING CYCLE.
SO THEY HAVEN'T BEEN COLLECTED.
THE REAL ESTATE SECOND HALF, 60.73 WITH IN RECEIVABLES OF $4,316,501 27 CENTS.
SINCE THIS REPORT HAS BEEN RUN, I HAVE, UM, WELL THE TREASURER'S OFFICE HAS COLLECTED ADDITIONAL 2.9 MILLION FROM THE CORELOGIC UH, SERVICING COMPANY FOR THE MORTGAGE COMPANY.
THE FORMAT WAS SENT OVER INCORRECTLY, SO WORKING WITH I, IT, IT WAS A LITTLE BIT OF A STRUGGLE TO GET IT TAKEN CARE OF.
SO IT DID HAPPEN AFTER 12 SIX, BUT THEY POSTED AS OF 12 FOUR, BUT IT DIDN'T MEET THIS REPORT.
ALSO, THERE WAS A TECHNICAL ERROR WITH, UM, LORETTA, THE OTHER MORTGAGE SERVICING COMPANY BASED ON VHDA.
THE WIRE WAS SENT OUT ON 12 FOUR, BUT IT WAS KICKED BACK.
SO THERE'S 575 DUE PER PARCELS THAT ARE, THAT I'M WORKING WITH VHDA TO MAKE SURE THAT WE'RE GETTING A CHECK OVERNIGHT AT, FOR AN ADDITIONAL 575 PARCELS.
SO WE ALREADY KNOW WE'VE ACCOUNTED FOR 2.9 OF THE 4.3 AND THEN IT'S GONNA BE ADDITIONAL FOR 575 MORE PARCELS, WHICH IS GONNA BUMP UP THAT 64.10.
AND THE NUMBER'S LOW ALSO FOR THE PP AND THE PS BECAUSE WE'RE JUST GOING INTO THAT BILLING CYCLE AND THOSE BILLS ARE GOING OUT.
ANY QUESTIONS ON THAT SLIDE? OKAY.
[00:15:03]
AND SO THE NEXT ONE, BUSINESS LICENSE AND MAIL TAX COLLECTION REPORT NUMBERS.UM, AS FAR AS 20 22, 99 0.77% COLLECTED, 20 23 99 0.60.
WE'RE IN THE, UM, 96.67 RANGE HERE.
AND WE ARE STILL WORKING ON COLLECTING THOSE, BUT WE'RE CONFIDENT THAT THOSE NUMBERS ARE GONNA GET TO A HUNDRED PERCENT AS WELL.
WE'RE NOT SENDING ANY TYPE OF DIFFICULTIES WITH THOSE COLLECTIONS.
ANY QUESTIONS THERE HAVE ON DEFENDANT AND OTHER SERVICES? WE HAVE A NEGATIVE IN THE THIRD COLUMN, BUT IT'S A HUNDRED PERCENT COLLECTED.
IS THAT CORRECT? THAT'S AN OVERAGE.
SO THERE'S, IT COULD BE A PREPAYMENT.
SO THAT 0.52 IS THE OVERAGE THERE.
AND WE'RE CONFIDENT THAT THOSE ARE GONNA BUMP UP.
WE KNOW OUR BUSINESSES WANT TO PAY THEIR TAXES AND REMAIN IN GOOD GRACIOUS WITH THE CITY.
AND AS FAR AS, AS FAR AS THE NEXT, UM, SLIDE, THE BANK AND INVESTMENT BALANCES AS OF SEPTEMBER 30, 20, 24, TOTAL CASH ON HAND, $14,751,698 AND 3 CENTS.
TOTAL INVESTMENTS TWENTY FIVE THOUSAND TWENTY FIVE MILLION EIGHTY THREE THOUSAND TWO HUNDRED FORTY EIGHT DOLLARS AND 52 CENTS.
THIRTY NINE THOUSAND EIGHT HUNDRED THIRTY FOUR THOUSAND NINE HUNDRED FORTY SIX DOLLARS AND 55 CENTS.
AND AS WE SAID, AS I SAID, WE ARE STILL COLLECTING, AND THIS IS AS OF NINE 30 BEFORE WE EVEN HIT OUR REAL ESTATE, UM, COLLECTION PERIOD.
AND WHEN AGAIN, WE ARE IN THE PROCESS OF SENDING THE PERSONAL PROPERTY BILLS OUT ALONG WITH THE PUBLIC SERVICE SO WE CAN CONTINUE TO ADD REVENUE TO THE CITY.
ANY QUESTIONS ANYMORE? ALL RIGHT, THANK YOU VERY MUCH.
I'M GONNA ASK
ANYONE JOINING VIRTUALLY? DO YOU HAVE ANY QUESTIONS FOR I DON'T HAVE ANY SOUND BACK COMING IN.
COUNCILOR JOYNER, DO HAVE ANY QUESTIONS? DON'T, I DON'T HAVE ANY QUESTIONS.
IS THERE MOTION TO ADJOURN THE FINANCE COMMITTEE MEETING? UH, SO MOVED.
MOTION'S BEEN MADE BY COUNCILOR HOLLOWAY, SECONDED BY COUNCILOR HARRIS DURING DISCUSSION ON THE BOARD.
WHY SHARING? I'M ACTUALLY CONFUSED.
I DON'T HAVE THE ACTUAL AGENDAS IN FRONT OF ME, SO I'M JUST GOING OVER BUY WHAT'S ON THE SCREEN.
I UNDERSTAND THERE'S TWO SEPARATE MEETINGS THAT'S GOING ON TONIGHT.
SO I'M CLOSING OUT THE FINANCE PLEA MEETING AND THEN WE'RE GONNA OPEN UP THE SPECIAL MEETING FOR THE OTHER ITEMS. YES.
SO WE CAN DO A ROLL CALL PLEASE.
ON CLOSING THE FINANCE COMMITTEE MEETING.
I'D LIKE TO CALL THE SPECIAL MEETING TO ORDER.
WE GOT, WE GOT A VOTE TO START HERE THOUGH.
THE CLOSED SESSIONS I'M AT THE OPEN MEETING STARTS AT SEVEN 30 SO WE A BREAK ISN'T IT ADVERTISED TO OPEN AT SEVEN 30? ALL WELL, WE'LL BE BACK HERE AT SEVEN 30.