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[(EDC) Board Meeting/(CDC) Board Meeting]
AND I CALL THIS HUDDLE ECONOMIC DEVELOPMENT CORPORATION, TYPE A AND TYPE B BOARD OF DIRECTORS INTO ORDER.MAY I GET A ROLL CALL PLEASE? CHAIR CARLSON VICE CHAIR LUCAS HERE.
WILL YOU ALL JOIN ME FOR THE PLEDGE OF ALLEGIANCE, PLEASE? I PLEDGE ALLEGIANCE TO THE FLAG OF THE UNITED STATES OF AMERICA AND TO THE REPUBLIC FOR WHICH STANDS? ONE NATION UNDER GOD, INDIVISIBLE, WITH LIBERTY AND JUSTICE FOR ALL.
I PLEDGE ALLEGIANCE TO ME, TEXAS ONE STATE UNDER GOD, ONE AND INDIVISIBLE.
DO WE HAVE ANYBODY SIGNED UP FOR PUBLIC COMMENT? NO, SIR.
ITEM FIVE, FIVE ONE'S, UH, ECONOMIC DIRECTOR'S REPORT.
SO THE JOY OF MEETING ONCE A MONTH IS MY COMMENTS ARE EVEN LONGER.
A WHOLE MONTH TO REPORT, UH, STARTING THINGS OFF WITH THE MEGA SITE.
UH, JUST WANTED TO PROVIDE AN UPDATE THERE.
AT PRESENT, WE HAVE APPROXIMATELY A HUNDRED ACRES STILL AVAILABLE IN THE AREA DESIGNATED FOR INDUSTRIAL DEVELOPMENT.
THAT IS IN ADDITION TO THE APPROXIMATE 70 ACRES CURRENTLY RESERVED FOR RETAIL AND MIXED USE ALONG THE FRONTAGE OF 33 49.
UH, SPINE ROAD CONSTRUCTION PROJECT.
SO I WILL CONTINUE TO PROVIDE UPDATES ON THAT AS WE MOVE THROUGH THOSE, UH, CHANGES.
WE'RE ALSO IN DESIGN FOR THE FIRE ACCESS ROAD, UH, WHICH IS BEING DESIGNED AND CONSTRUCTED IN-HOUSE TO SAVE, UH, TIME AND COSTS AND THERE'LL BE MORE UPDATES TO COME ON THAT AS THAT PROGRESSES AS WELL.
COTTONWOOD PROPERTIES MASTER PLANNING.
SO WE DO HAVE THE MOU ON THE AGENDA TONIGHT TO KEEP US MOVING FORWARD.
UM, ALSO CONFIRMED WITH MIDWAY THAT THEY DO PLAN TO MARKET THE COTTONWOOD PROPERTIES AT ICSC, SO I'M VERY EXCITED TO SEE WHAT THE FEEDBACK IS FROM THAT.
I THINK THAT'LL BE THEIR FIRST OFFICIAL ANNOUNCEMENT FROM THEM THAT THEY ARE ENGAGED IN THE COTTONWOOD PROPERTIES.
SO, UH, THEY DID RECEIVE A FLURRY OF INQUIRIES AFTER WE ANNOUNCED, BUT I'M CURIOUS TO SEE WHAT ALL COMES OF ICSC, UH, AND THOSE EFFORTS.
SO I'M EXCITED TO REPORT BACK TO Y'ALL AFTER THAT.
UM, THEN WE ALSO HAVE A DRAFT OF THE ATHLETIC FIELDS FEASIBILITY STUDY.
UH, SO WE'LL BE SURE AND SHARE THAT WITH MIDWAY AND THE BOARD ONCE IT'S FINALIZED.
AND THEN WE'RE ALSO PLANNING TO CONNECT MIDWAY TO THE GARVER DESIGN TEAM SO THEY CAN PROVIDE ADDITIONAL GUIDANCE ON THE 1 32 79 THAT'LL IMPACT THE COTTONWOOD PROPERTIES, UH, STAFFING UPDATES.
SO WE RECEIVED APPROVAL FOR A POSITION OF MARKETING ANALYSTS, SO THAT WILL BE POSTED HERE IN THE NEXT MONTH.
UH, WE DO PLAN TO HIRE AND ONBOARD PRIOR TO THE END OF THIS FISCAL YEAR AND THAT WILL BRING THE ECONOMIC DEVELOPMENT DEPARTMENT UP TO FULL STAFF OF THREE FTES.
I FEEL LIKE I TALK ABOUT THIS EVERY TIME,
SO, UH, I DID GET THE UPDATED TRAINING CALENDAR FROM TEDC, SO WE HAVE PLENTY OF RUNWAY TO PLAN THIS TIME.
UH, IT IS PLANNED FOR FRIDAY, NOVEMBER 8TH.
I DON'T KNOW THAT THEY'VE IDENTIFIED THE EXACT VENUE, BUT AT LEAST WE HAVE THE DATE AND THAT IS AN ALL DAY TRAINING.
IT DOES ACHIEVE YOUR SALES TAX TRAINING, YOUR INFORMATION ACT TRAINING, AND YOUR TOMA TRAINING.
SO, UH, REALLY GREAT TRIPLE, TRIPLE THREAT WITH THAT ONE.
SO, UH, I AM ALSO LOOKING INTO BRINGING THAT TRAINING HERE TO HU BECAUSE IT IS IMPORTANT THAT OUR CITY COUNCIL ALSO TAKE THAT TRAINING.
UM, I THINK IT'S REALLY IMPORTANT THAT EVERYBODY HAVE THE SAME FOUNDATIONAL UNDERSTANDING OF SALES TAX AND WHAT IT CAN AND SHOULD BE USED FOR THE BEST WAY TO LEVERAGE AND BE ABLE TO ASK THOSE QUESTIONS OF THE EXPERTS FROM THE STATE.
SO, UM, CHECKING INTO THAT AND I'LL REPORT BACK WITH WHAT THAT COST MIGHT LOOK LIKE IF WE WANNA TRY TO BUDGET THAT FOR, UH, THE NEXT FISCAL YEAR.
OH, ADDITIONALLY, THE SALES TAX TRAINING COMPONENT IS INTEGRAL TO US ACHIEVING ECONOMIC EXCELLENCE DESIGNATION FROM THE TEXAS ECONOMIC DEVELOPMENT COUNCIL.
SO, UM, A FAIR PORTION OF THAT QUALIFICATION, UM, MATRIX IS BASED ON TRAINING BY THE BOARD AND COUNCIL.
SO THAT WILL GO A LONG WAY FOR FOR THAT ACHIEVEMENT AS WELL.
SO THE WILLIAMSON COUNTY ECONOMIC DEVELOPMENT PARTNERSHIP.
UH, WE HAD A BOARD MEETING ON FEBRUARY 23RD AND, UH, THE BIG TAKEAWAYS FROM THAT MEETING WAS THAT, UH, A SMALLER DELEGATION HAD JUST RETURNED FROM A TRIP TO SOUTH KOREA.
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HAD 28 MEETINGS RESULTING IN SEVEN NEW PROJECTS, AND THAT'S IN ADDITION TO THE 10 CURRENT PROJECTS THAT THAT, UH, PARTNERSHIP HAS BROUGHT TO THE COUNTY.UM, SO WE'RE CONTINUING TO SEE A PRETTY SOLID FLOW OF PROJECTS OPPORTUNITIES FROM THEM.
SO ONE, WE'LL BE COMING TO HU IN APRIL FOR A SITE VISIT.
UM, SO I'M EXCITED ABOUT THAT.
UH, AND THEN WE ALSO HAD A LUNCH MEETING WITH THE CEO OF KITA FROM THEIR NEW DALLAS OFFICE AND KITA IS THE KOREAN INTERNATIONAL TRADE ASSOCIATION.
UM, SO WE'RE LOOKING FORWARD TO SOME OPPORTUNITIES TO, TO SUPPORT HIM, UH, AS THEY GET GET UP AND RUNNING IN THEIR NEW DALLAS OFFICE.
UM, WE ALSO HAVE AN UPCOMING SITE SELECTORS VISIT.
THIS IS AN ANNUAL EVENT THAT, UH, THEY PUT ON AND HUDDLE WILL BE HOSTING THE WORKFORCE PANEL ON FRIDAY THE 19TH.
UM, AND WE'RE DOING A LUNCH PANEL AND THAT'LL BE AT BROADCOM.
SO THANK YOU TO BROADCOM FOR HOSTING US.
UH, SO LAST WEEK, WAS IT LAST WEEK? OH GOSH, YES.
UM, STAFF ATTENDED THE GREATER AUSTIN ASIAN CHAMBER OF COMMERCE EVENT AT SOUTH BY SOUTHWEST.
UM, MAYOR PRO TEM GORDON ALSO SPOKE, BUT WE HOSTED A TABLE AS PART OF OUR SPONSORSHIP OF THAT EVENT.
UM, LOT OF GREAT QUESTIONS ABOUT HU DO AND YOU KNOW, WHAT'S HU LIKE AS A COMMUNITY, WHAT'S IT LIKE TO DO BUSINESS THERE? WHAT IS THERE TO DO? AND, UM, REALLY GREAT KIND OF INTRODUCTION OF HUDU.
AND SO I WANNA JUST WANNA THANK THE STAFF FOR THEIR TIME AND EFFORTS INTO THAT EVENT IN PREPARATION AND MANNING THAT TABLE.
UM, AND THEN ALSO HUDU WINE BAR AND EDC PROJECT HAD ITS SOFT OPENING ON FEBRUARY 28TH.
SO, UH, THEY ARE OPEN FIVE DAYS A WEEK NOW.
I BELIEVE THE SCHEDULE IS 11 TO EIGHT.
MEG'S GONNA KILL ME IF I GET IT WRONG.
UH,
THAT LEADS ME RIGHT INTO AN UPCOMING EVENT.
SO HU DO WINE BAR WILL HAVE THEIR OFFICIAL GRAND OPENING ON, UM, APRIL 19TH AT 4:00 PM SO SINCE IT IS AN EDC SUPPORTED PROJECT, WE WOULD REALLY APPRECIATE IF ANY OF THE MEMBERS OF THE BOARD WOULD BE ABLE TO ATTEND.
THAT WILL BE THE OFFICIAL RIBBON CUTTING FROM THE CHAMBER.
HU WINE BAR IS A CHAMBER MEMBER, SO THEY ARE, UM, PUTTING ON THEIR, THEIR RIBBON CUTTING, BUT WOULD LOVE TO HAVE YOU GUYS ATTEND.
UM, UPCOMING THIS SATURDAY IS THE CITY COUNCIL STRATEGIC PLANNING WORKSHOP.
IT'S AT THE HOLIDAY INN ON EDGE SCHMIDT.
IT'S OPEN TO THE PUBLIC, SO, UH, IF YOU'D LIKE TO ATTEND, PLEASE DO.
UH, THERE'S ALSO AN UPCOMING EVENT BY THE PFLUGERVILLE CDC.
IT'S CALLED THEIR BUSINESS FIRST EVENT ON THE 28TH.
THE TOPIC IS THE ONE 30 CORRIDOR.
SO MYSELF AND KRISHNA WILL BE ATTENDING THAT AND BRING BACK ANY NUGGETS OF INFO, UH, TO THE BOARD AT THE NEXT MEETING.
LET'S SEE, UH, APRIL 2ND IS ECONOMIC DEVELOPMENTS PRESENTATION TO THE CURRENT HU CITIZENS UNIVERSITY CLASS AT SIX O'CLOCK.
IF ANY OF THE BOARD WOULD LIKE TO ATTEND AND SEE WHAT INFORMATION WE'RE SHARING WITH THE PUBLIC, YOU ARE MORE THAN WELCOME.
UM, ALSO BEING THERE TO ADDRESS ANY QUESTIONS THAT THEY MAY HAVE SPECIFIC TO BEING ON THE BOARD.
UH, MIGHT BE A GREAT ADD VALUE ADD.
UH, IT'S APRIL 2ND, IT'S A TUESDAY.
IT'S THE SPEED DATING FORMAT FOR ANYONE THAT ATTENDED LAST YEAR.
IT'LL BE A SIMILAR FORMAT, UH, THAT WILL BE AT COTTONWOOD CREEK ELEMENTARY AND IT STARTS AT 8:00 AM AND THEN, UH, MIDWAY IS SPONSOR OR IS A SPONSOR OF THE MAYOR'S GOLF TOURNAMENT COMING UP ON APRIL 1ST AS PART OF THEIR SPONSORSHIP, THEY DO GET A TEAM OF FOUR.
UNFORTUNATELY, THEY'RE NOT GONNA BE ABLE TO PARTICIPATE IN THAT PORTION OF THE EVENT.
SO THEY HAVE OFFERED THEIR TEAM TO THE BOARD.
SO IF ANYONE WOULD LIKE TO PARTICIPATE, PLEASE LET ME KNOW AND WE'LL WORK WITH THE MIDWAY FOLKS AND THE MAYOR'S GOLF TOURNAMENT, UH, PLANNING FOLKS TO GET Y'ALL SQUARED AWAY.
UH, I-C-S-C-I BOOKED FLIGHTS AND HOTELS, SO HOPEFULLY YOU RECEIVE CONFIRMATIONS.
I HAD TO PUT EVERYBODY'S EMAIL ADDRESSES IN THERE, SO THAT LED ME TO BELIEVE THAT THERE WOULD BE CONFIRMATIONS.
BUT, UH, IF YOU CAN JUST DOUBLE CHECK AND LET ME KNOW SO THAT IF I CAN FORWARD YOU THAT STUFF IF YOU DON'T HAVE IT.
UM, SO THE ONLY OUTSTANDING INFORMATION OR OUTSTANDING ITEMS ARE, UM, I'LL BE PURCHASING A THREE DAY MONORAIL TICKET SO THAT YOU CAN GET TO AND FROM THE CONVENTION CENTER AND HOTEL.
UH, AND THEN JUST YOUR GROUND TRANSPORTATION.
UH, YOU ARE TAKING THE SAME FLIGHTS TO AND FROM.
SO PLEASE CARPOOL
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UM, LET'S SEE, WHAT ELSE OUR BRE PROGRAM UPDATE.SO, UM, THE SURVEY AND INITIAL COLLATERAL HAS BEEN CREATED AND SHARED, UM, BOTH ON SOCIAL AND VIA IN-PERSON VISITS.
UH, THE IN-PERSON VISITS ARE BEING CONDUCTED BOTH VIA SCHEDULED MEETINGS AND DROP-INS.
SO PROGRAM INFORMATION HAS ALSO BEEN SHARED AT THE CHAMBER LUNCHEON AND POWER BREAKFAST AND KRISHNA IS WELL ON HER WAY TO MEETING, IF NOT EXCEEDING THE GOAL OF 50 VISITS TO OUR LOCAL BUSINESSES.
BY THE END OF THIS FISCAL YEAR, THE SURVEY INFO WILL BE USED TO GAIN INSIGHTS TO GUIDE OUR INITIATIVES AND WHAT RESOURCES TO PRIORITIZE FOR OUR BUSINESS COMMUNITY BUDGET IMPLEMENTATION.
SO, UH, I WANTED TO CIRCLE BACK ON, UM, THE ITEM THAT WE DISCUSSED AT OUR LAST MEETING REGARDING THE REALLOCATION OF FUNDS, UM, THAT WERE EARMARKED FOR A BOOTH AT ICSC AND THE BOARD ELECTED TO OFFER, UM, COUNCIL PARTICIPATION INSTEAD.
UH, AT THE LAST COUNCIL MEETING, THEY, UH, VOTED NOT TO SPONSOR CITY COUNCIL ATTENDEES AT THIS TIME.
UM, THERE WAS SOME OTHER DISCUSSION ABOUT PERHAPS PRIORITIZING A VISIT TO KOREA INSTEAD, BUT AGAIN, WE HAVE THAT 5,600 THAT I'M SURE WE CAN FIND GOOD USE FOR SUCH AS THE MOU FOR COTTONWOOD PROPERTIES.
UM, SO I'LL PROBABLY BE BRINGING A BUDGET AMENDMENT ANYWAY.
SO IF YOU GUYS HAVE THINGS THAT YOU WOULD LIKE TO SEE EXECUTED THIS FISCAL YEAR, KEEP IN MIND THAT DOES END SEPTEMBER 30TH.
UM, SO FEASIBILITY IS GONNA BE PARAMOUNT
UM, BUT JUST WANTED TO REPORT BACK THAT THAT 5,600 IS TECHNICALLY STILL STILL WITHIN OUR BUDGET FOR THE YEAR.
UM, THEN ALSO A BUDGET REMINDER.
THE EDC IS REQUIRED TO APPROVE THEIR BUDGET.
I THINK, STEVEN, YOU'RE GONNA TELL ME 60 DAYS BEFORE COUNCIL ADOPTS THEIR BUDGET.
I USED TO SAY 90, BUT I DON'T THINK THAT'S RIGHT.
I THINK IT'S 60 BECAUSE WE APPROVED IN JUNE LAST YEAR AND COUNCIL WAS TO APPROVE THEIRS IN AUGUST.
SO E EITHER WAY, THE STAFF PLAN RIGHT NOW IS TO BRING A DRAFT BUDGET TO THE BOARD IN APRIL, UM, FOR CONSIDERATION DISCUSSION, INPUT ALL OF THAT, AND THEN BRING THE REVISED FINAL BUDGET IN MAY FOR APPROVAL.
AND THAT WOULD GO TO COUNCIL IN JUNE.
UM, FULL DISCLOSURE, THERE MAY NEED, NEED TO BE A SPECIAL CALLED MEETING IN APRIL TO BRING THAT BUDGET.
I DON'T KNOW THAT I CAN GET IT TURNED AROUND IN A MONTH'S, WELL, THREE WEEKS TIME.
UM, AND I THINK WE'RE STILL WORKING THROUGH SOME ACCESS FOR THE FY 25 BUDGET.
OUR BUDGET IS DUE SIGNIFICANTLY EARLIER THAN ANYONE ELSE'S.
AND SO IT DOES POSE A BIT OF A TIMING CHALLENGE, BUT I DID WANNA PUT IT OUT THERE THAT WE MAY NEED A SPECIAL CALL MEETING IN APRIL TO, TO KEEP THAT CADENCE.
AND THAT CONCLUDES MY COMMENTS.
AGENDA ITEMS 6.1, DISCUSS AND CONSIDER ACTION TO APPROVE THE CORPORATE FINANCIAL STATEMENTS FOR FEBRUARY OF 2024.
HELLO, I'M ALBERT BARRETT, FINANCE DIRECTOR AND NICE TO MEET ALL OF YOU FIRST MEETING.
SO, UM, NOT QUITE SURE OF THE PROCESS, BUT I'LL KIND OF GO THROUGH HIGHLIGHTS.
IF YOU HAVE ANY QUESTIONS I CAN HEAR YOU VERY WELL, BUT IS THAT MIC ON? NO.
CAN YOU TAP IT PLUGGED IN JUST FOR RECORDING PURPOSES? YES.
OKAY, AGAIN, ALBERTA BARRETT, FINANCE DIRECTOR FOR THE CITY OF HU.
UM, SO I WANNA START OFF ON THE FIRST PAGE WITH YOUR CASH BALANCES.
UM, AT THE END OF FEBRUARY YOU HAD 1001 68 39 AT UM, EDC WITH THE CADENCE BANK.
UM, MY UNDERSTANDING IS THAT WAS BEING CLOSED TODAY.
UM, WITH WELLS FARGO WE HAVE $79,055 40 CENTS.
AND THEN THE TAX POOL, UM, YOU HAD 1,147,800 1422, WHICH I KNOW IS LOWER THAN WHAT YOU NORMALLY MAINTAIN, BUT, UM, IT IS ACCRUED BACK UP TO OVER 3 MILLION.
SO IF YOU COULD TURN TO THE NEXT PAGES, YOUR REVENUES AND EXPENDITURES.
UM, WE HAD 318,000 291 44 FOR YOUR SALES TAX PORTION FOR FEBRUARY.
I WANNA POINT OUT A FEW OF YOUR HIGHER
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EXPENDITURES.UM, 66 50 CAPITAL OUTLAY WAS 1,000,006 81, 200 $90 AND 5 CENTS.
AND THAT WAS, UM, FOR THE EAST WEST SPINE ROAD, UM, FOR THE JORDAN FOSTER PAY APPLICATION.
UM, AND THE NEXT ONE I WANTED TO POINT OUT IS THE LAST TWO ITEMS. THE LOAN PRINCIPAL PAYMENT AND INTEREST.
UM, AND THOSE ARE RELATED TO THE COTTONWOOD PURCHASE.
SO THOSE LOAN PAYMENTS, PRINCIPAL AND INTEREST WERE MADE.
UM, I THINK THE BUDGET AMENDMENTS THAT YOU HAD APPROVED OR DISCUSSED PRIOR WERE APPROVED BY THE CITY COUNCIL AT THE MARCH 7TH COUNCIL MEETING.
AND SO THOSE WILL BE REFLECTED IN YOUR MARCH FINANCIALS.
SO NEXT MONTH, UM, LET'S SEE, UM, I GUESS JUST THE BACK TWO PAGES SHOW, UM, YOUR SALES TAX AND HOW IT'S TRACKING COMPARED TO PRIOR YEARS.
UM, AND SO COMPARED TO LAST YEAR THROUGH FEBRUARY, WE'RE UP ABOUT 173,679, WHICH IS ABOUT 14%.
AND THEN THE LAST PAGE, UM, IS WHAT'S CALCULATED THAT WOULD BE REIMBURSED, UM, TO EDC IS 139,862.
THAT'S AFTER THE SALES TAX PLUS, UM, ANY, UH, EXPENSES DUE, UH, TO THE CITY.
ANY QUESTIONS OR SOMETHING YOU'D LIKE FOR ME TO GO OVER THAT, UH, YOU'RE USED TO SEEING THAT I DIDN'T COVER? CAN YOU EXPLAIN THE, THE VERY LARGE NEGATIVE NUMBERS ON PAGE TWO UNDER VARIANCE? LIKE NEGATIVE 12 MILLION IN ONE COLUMN AND NEGATIVE 11 IN ANOTHER.
SO LARGE NEGATIVE NUMBERS MAKE ME UNCOMFORTABLE.
UM, ARE, OKAY, SO YOU'RE LOOKING AT, UM, THE REVENUES AND EXPENDITURES? YES MA'AM.
SO, UM, THE BIG DIFFERENCE ON THE REVENUES IS OTHER REVENUE AND UM, I'M NOT SURE WHAT THE 10 MILLION 5 18 126 WAS BUDGETED AS OTHER REVENUE, BUT TO DATE WE'VE ONLY RECEIVED 31,000.
SO YOU HAVE A, A VARIANCE THERE AND THAT'S YOUR BIG ONE ON THE REVENUE.
THAT'S A LITTLE OVER 10 MILLION DIFFERENCE.
UM, WE CAN, UH, RESEARCH THAT AND HAVE AN ANSWER FOR YOU ON WHAT THAT OTHER REVENUE IS AND WHEN WE WOULD BE ABLE TO ANTICIPATE, UM, RECEIPT AND THEN ON EXPENSES.
THE BIG ONE IS, UM, THE CAPITAL OUTLAY FOR THE EAST WEST FINE ROAD, UM, WAS NOT INCLUDED AS A CAPITAL OUTLAY ON THE BUDGET EVEN THOUGH WE ARE MADE PAYMENTS.
SO I'M SURE THAT'S GONNA BE ADJUSTED WHEN WE DO YOUR, UM, YOUR BUDGET AMENDMENTS THAT WERE APPROVED.
SO THAT'S THE BIG ONE THERE, PLUS YOUR, YOUR LOAN PRINCIPAL AND INTEREST AND THAT ONE WAS INCLUDED IN THE BUDGET AMENDMENT AS WELL.
SO THAT SHOULD TAKE CARE OF MOST OF THE NEGATIVES ON THE EXPENSE SIDE.
ANY OTHER QUESTIONS? I GUESS THE MOTION WILL BE IN ORDER THEN.
WE APPROVE THE FINANCIAL DIRECTOR'S REPORT AS GIVEN.
I HAVE A MOTION BY, UH, BOARD MEMBER MINTON AND A SECOND BY TREASURER COLEMAN.
UM, ANY OTHER QUESTIONS OR DISCUSSIONS? MAY I GET A ROLL CALL PLEASE? BOARD MEMBER THOMPSON AYE.
THANK YOU AND WELCOME BY THE WAY.
ITEM SIX, TWO, DISCUSS AND CONSIDER ACTION TO APPROVE THE CORPORATE MINUTES FROM THE THEIR MEETING ON FEBRUARY THE 12TH, 2024.
EVERYBODY GET AN OPPORTUNITY TO VIEW THE MEETING MINUTES VICE CHAIR.
I DID HAVE ONE GRAMMATICAL CORRECTION THAT I MADE ALSO, UH, IN THE FUTURE AGENDA ITEMS IT HAD USED THE WRONG 10 OF SCHEDULED, SO I CORRECTED THAT, BUT THAT WAS THE ONLY ERROR THAT I SAW AFTER PROVIDING THE MINUTES FOR YOUR REVIEW.
I'D LIKE TO MAKE A MOTION TO APPROVE 6.2 CORPORATIONS MINUTES FROM PREVIOUS MEETING ON FEBRUARY 12TH AS PRESENTED.
I GOT A MOTION BY, UH, TREASURER COLEMAN.
ANY OTHER DISCUSSION? CAN I GET A ROLL CALL PLEASE? BOARD MEMBER OWENS AYE.
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AYE.HEY MARCUS, DO YOU HAVE A MIC CLOSE BY? I'M SORRY.
YEAH, THAT'S WHY LIKE I CAN HEAR YOU BUT CAN YOU HEAR ME NOW? AND THANK YOU SIR.
ITEM SIX THREE, DISCUSS AND CONSIDER ACTION REGARDING FINANCIAL DISCLOSURES AS REQUIRED, UH, BY THE CITY OF HU CHARTER.
UH, CORRECTION, THAT'S ACTUALLY AS REQUIRED BY THE CODE OF ORDINANCES, NOT THE CHARTER.
UM, SO THIS IS JUST TO LET Y'ALL KNOW THAT UH, EVERY MEMBER OF THIS BOARD AND MYSELF ARE REQUIRED TO COMPLETE A FINANCIAL DISCLOSURE AND THE DEADLINE FOR THAT IS COMING UP APRIL 30TH.
SO I JUST WANTED TO TAKE THIS OPPORTUNITY SO WE HAVE PLENTY OF TIME TO GET IT DONE.
NO SURPRISES AT THE APRIL MEETING, UM, THAT THOSE ARE DUE.
AND ONE OF THE DOCUMENTS THAT WAS PROVIDED IN YOUR, UM, MEETING DOCUMENTS DOES SHOW THE FORM.
UH, IT'S IN ONE OF THE ORDINANCES, UM, THAT HAS ALL THE FORM, BUT THERE IS A LINK THAT I CAN SEND OUT ALSO 'CAUSE IT IS A FILLABLE PDF IF YOU'D RATHER, UM, AS ANOTHER OPTION TOO.
BUT I JUST WANTED TO MAKE YOU ALL AWARE OF THAT REQUIREMENT AND TIMELINE.
AND THE ORDINANCE DOES PROVIDE FOR A PENALTY.
SO IF YOU DO NOT SUBMIT THIS, THEN THERE IS THE POSSIBILITY OF A $500 UP TO A $500 FINE AND A CLASS C MISDEMEANOR.
YEAH, IF YOU COULD SEND THAT OUT SO WE CAN FILL IT OUT VIA PDF, THAT WOULD BE GREAT.
DID WE TURN THAT INTO YOU? UH, NO.
IT WOULD GO I BELIEVE TO THE CITY SECRETARY.
IS THERE AN ACTUAL ACTION ITEM THAT WE NEED TO TAKE ON THIS OR IS THIS JUST MORE OF A JUST DISCUSS TO DISCUSS? OKAY.
YEAH, IF YOU HAD ANY QUESTIONS OR ANYTHING LIKE THAT, I JUST WANTED TO PROVIDE AN OPPORTUNITY ON THE AGENDA FOR Y'ALL TO ENGAGE.
ANY OTHER QUESTIONS OR COMMENTS? MOVING ON TO SIX FOUR, DISCUSS AND CONSIDER ACTION REGARDING THE BUSINESS CREDIT CARD FOR THE CORPORATION ACCOUNT TO BE USED BY THE DIRECTOR FOR CORPORATE FINANCE EXPENSES AS APPROVED IN THE CURRENT YEAR'S BUDGET? YES.
SO THIS ITEM IS A REQUEST FROM STAFF, UH, IN ORDER TO INCREASE SOME EFFICIENCIES IN RECONCILING BOARD EXPENSES.
SO THE CURRENT PROCESS IS A LITTLE BIT CUMBERSOME AND THIS WOULD HELP STREAMLINE THINGS.
UH, AT PRESENT THERE IS NO OPPORTUNITY FOR THE PCARD THAT I CURRENTLY HAVE WITH CITY OF HUDU TO KIND OF TALK TO FUND 35, WHICH IS THE CORPORATION EXPENSES.
SO EVERYTHING THAT I USE THAT PCARD FOR THAT IS IN THE CORPORATION'S BUDGET, GETS CODED TO ONE KIND OF GENERAL EDC LINE AND THEN IT HAS TO GET BROKEN APART INTO THE APPROPRIATE LINE ITEMS WITHIN THE CORPORATION'S BUDGET.
SO IT'S JUST A LITTLE, LIKE I MENTIONED, CUMBERSOME AND SO HAVING A CORPORATE CREDIT CARD AND WE SAID CREDIT VERSUS DEBIT JUST FOR SECURITY REASONS, UH, BUT IT WOULD BE BENEFICIAL.
SO I JUST WANTED TO MAKE THAT REQUEST TO THE BOARD AND UM, SEE HOW Y'ALL FELT ABOUT THAT.
AND LEGAL WOULD RECOMMEND IF THE BOARD WERE TO, UH, CHOOSE GOING DOWN TO CHOOSE TO, TO GO DOWN THIS ROUTE, UM, TO INSTRUCT STAFF TO CREATE A CARD POLICY USE.
UM, SO EVERYONE KNOWS A, HOW OFTEN STATEMENTS ARE REVIEWED, WHAT CAN BE USED FOR WHETHER TRANSACTION LIMITS, UM, ET CETERA.
AND THE WAY THAT THE ITEM IS WORDED TOO, JUST FOR PUBLIC AWARENESS, IT IS ONLY FOR APPROVED EXPENSES AS SHOWN IN THE CURRENT YEAR'S APPROVED BUDGET.
SO FOR EXAMPLE, ICSC, THAT WAS SEVERAL THOUSAND DOLLARS TO BOOK ALL IN A, A SPAN OF A FEW SHORT DAYS.
THE OTHER ALTERNATIVE WOULD'VE BEEN FOR ME TO PUT THAT ON A PERSONAL CREDIT CARD AND WAIT A MONTH TO GET REIMBURSED.
SO THAT'S KIND OF WHERE SOME OF THIS, IT AGAIN, WHEN THERE'S A MULTIPLE PURCHASES FOR SOMETHING LIKE THAT, IT WOULD BE MUCH MORE BENEFICIAL TO JUST HAVE THAT ALREADY SEPARATE SO THAT IT'S AN EASIER RECONCILIATION PROCESS.
SO ARE YOU GONNA WORK WITH, UH, LEGAL AND CREATE SOME SORT OF POLICY AROUND THAT AND DRAFT AROUND WHAT'S THE LIMITS, WHAT'S IT CAN BE USED FOR, ET CETERA? YEAH, SO WE WERE GONNA BASE IT OFF OF THE CITY'S PURCHASING LIMITS, LIKE DAILY, UM, ALLOWABLE TOTAL DAILY AMOUNT AND THEN PER TRANSACTION AND THEN OVERALL CARRYING BALANCE.
SO, UM, THE CITY CURRENTLY HAS A POLICY IN PLACE, SO WE'RE GONNA MODEL IT AFTER THAT.
SIMILAR TO THOSE, UH, THOSE LIMITS CAN BE INCREASED.
AND AGAIN, THAT WOULD BE IN THE POLICY OF WHO'S, WHO'S AUTHORIZED TO INCREASE THOSE LIMITS TEMPORARILY.
AGAIN, ICSC FAR EXCEEDED MY DAILY LIMIT AND TRANSACTION LIMITS, SO I HAD TO HAVE THAT APPROVED, UH, BY THE PURCHASING
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DEPARTMENT.WELL THAT'S WHY, THAT'S WHY I DON'T RECOMMEND DAILY LIMITS AND MAYBE I'M JUST WRONG ON THAT.
IT'S JUST SIMPLY 'CAUSE IT'S, YOU'RE USING IT FOR APPROVED BUDGET AGENDA ITEMS. SO THOSE ITEMS ARE GONNA BE RELATIVELY LARGE.
IF YOU DO, IF IT WAS SOMETHING LIKE YOUR A, UH, I DON'T KNOW, JUST LIKE A MECHANIC IN THE FIELD WHERE YOU'RE DRIVING, YOU'RE GETTING GAS, IT MAKES SENSE TO PUT A DAILY LIMIT OR A CAP ON THINGS.
I DON'T NECESSARILY, I'M NOT, I PERSONALLY AM NOT A FAN OF IF YOU'RE GONNA BE USING THIS FOR LARGE PURCHASES TO DO A DAILY LIMIT, BUT MORE OF A, A POLICY LIMIT TO WHERE IT SAYS, HEY, WE WILL APPROVE THESE BUT WE WON'T APPROVE THOSE.
SO IF YOU GO TO DILLARD'S AND YOU BUY $10,000 WORTH OF STUFF, WELL THAT'S NOT APPROVED IN THE BUDGET THAT GOES ON YOU AND YOU HAVE TO PAY, YOU HAVE TO PAY FOR IT PERSONALLY.
SO, UM, THAT IS KIND OF THE CHECK AND BALANCE THAT I'VE SEEN IN THIS WORK A LOT BETTER, UM, THAN DAILY LIMITS.
SO THAT'S JUST MY PERSONAL OPINION.
CHANEY, HOW MANY PEOPLE WOULD HAVE ACCESS TO THE CARD? JUST YOU? IT WOULD JUST BE ME, NO AUTHORIZED USERS.
UNLESS THE BOARD WOULD PREFER OTHERWISE.
I THINK IT WOULD BE BEST TO HAVE MORE THAN ONE PERSON HAVE ACCESS TO IT, EVEN IF THEY DON'T USE IT.
'CAUSE REMEMBER WE HAD A SIMILAR ISSUE, WELL NOT ISSUE, BUT WE DISCUSSED IT LAST YEAR REGARDING THE BANK ACCOUNTS AND JUST MAKING SURE THAT WE ALL KNEW WHO WAS ON THE ACCOUNTS, DIFFERENT THINGS LIKE THAT.
SO I JUST WANT TO BE, I LIKE THE DAILY LIMIT ONLY BECAUSE ALL THE SAME THINGS THAT YOU SAID, IT WOULD BE A NEGATIVE COULD ALSO BE A POSITIVE 'CAUSE LIKE IF SHE'S DOING SOMETHING AND IT JUST POPS UP AND YOU GOTTA PIVOT ON THE FLY.
AND I DON'T WANT TO GET INTO THE, IF THE LIMIT IS HIGH ENOUGH MAJOR PURCHASES, WE ALREADY KNOW WHAT THAT IS.
BUT ANYTHING UNDER, I MEAN REALISTICALLY WHAT A THOUSAND DOLLARS AND IF THAT'S THE DAILY LIMIT OR WHATEVER THE CITY'S POLICY IS JUST FOR ORGANIZATIONAL PURPOSES, WHY CAN'T WE JUST FOLLOW WHAT THE CITY'S LIMIT IS? YEAH, I THINK WE WOULD JUST NEED TO THEN IDENTIFYING THE POLICY WHO IS AUTHORIZED TO CHANGE THOSE LIMITS, UH, TEMPORARILY SIMILAR TO WHAT THE CITY'S PROCUREMENT PROCESS IS.
SO I MEAN, AGAIN, SHE SHOULDN'T BE USING IT FOR GAS, YOU KNOW, DRIVING AROUND UNLESS IT'S A TRIP THAT'S PLANNED.
I MEAN, I DON'T SEE THIS CARD AS BEING A DAILY USE CARD.
IT'S SOMETHING THAT WHEN SHE USES IT, IT'S WE'RE GOING TO, WE'RE GOING TO ICSE OR SHE'S GOING TO, YOU KNOW, ICSE IN, IN, IN DALLAS.
IT'S, IT'S, I'M USING IT FOR THIS ENTIRE TIME.
SO TO SET A LIMIT FOR THAT ENTIRE TIME, JUST THINK ABOUT ICSE, WHAT THAT DAILY LIMIT WOULD LOOK LIKE FROM, YOU KNOW, POSSIBLE INCIDENTALS ON, ON FROM HOTEL ROOMS THAT THEY HAVE TO CHARGE PER DAY, UH, RESORT FEES, THINGS LIKE THAT.
I MEAN IF YOU JUST THINK ABOUT JUST INCIDENTALS, IT CAN BE THOUSANDS OF DOLLARS.
UM, I GUESS THAT'S MY OPINION.
IT'S NOT A DAILY USE CARD, IT'S, IT'S A PROJECT WHEN YOU USE IT, WHEN I BREAK IT OUT, IT'S GONNA BE FOR LARGE PURCHASES OR LARGE BIG DEALS VERSUS A DAILY THING.
'CAUSE IF I RECALL LAST YEAR, BOB, YOU REMEMBER WE HAD ISSUES AND BOB HAD TO USE HIS CARD AND THEN SEEK REIMBURSEMENT.
BUT THAT WAS, I THINK THAT SHOULD BE RESOLVED THIS YEAR.
UM, BECAUSE WE WENT THROUGH ICSC HOTEL ACCOMMODATING SERVICE OR HOTEL SCHEDULING RESERVATION, I CANNOT THINK OF THAT WORD SERVICE.
AND SO I PUT IN EVERYONE'S INDIVIDUAL NAMES, WHEREAS LAST YEAR I THINK ALL OF THEM WERE CREATED EITHER UNDER MY NAME OR BOB'S NAME OR SOMETHING TO THAT EFFECT.
AND SO IT MADE THE CHECK-IN PROCESS MORE CHALLENGING.
I THINK YOU EACH HAD TO PUT LIKE, EITHER BOB HAD TO PUT HIS CREDIT CARD OR WHOEVER NEEDED TO PUT THEIR CREDIT CARD ON FILE.
UM, I DON'T BELIEVE THAT WILL BE THE CASE THIS YEAR BECAUSE OF HOW WE'VE RESERVED THOSE ROOMS. SO JUST OUTTA CURIOSITY, 'CAUSE I'M NOT CLEAR ON THE ROLES AND RESPONSIBILITIES THAT ARE BUSINESS RETENTION SPECIALIST HAS WHEN SHE DOES ANY TYPE OF VISITS OR SHE'S DRIVING THROUGHOUT, ARE ANY OF THE REIMBURSEMENT POLICIES ELIGIBLE FOR HER OR IS THAT A PART OF HER JOB DESCRIPTION? SO AS FAR AS LIKE THE MILEAGE, ET CETERA, IS THAT WHAT YOU'RE ASKING? SO I BELIEVE WE HAVE TO FOLLOW THE CITY'S POLICY ON THAT.
AND I BELIEVE YOU DON'T GET REIMBURSED MILEAGE UNLESS IT'S FARTHER THAN 40 MILES FROM YOUR PLACE OF WORK.
SO THAT WOULDN'T FALL INTO THAT CATEGORY.
NOW WHEN WE GO TO LIKE THE TEDC CONFERENCE IN, UM, HOUSTON, FOR EXAMPLE, THAT IS WITHOUT, OUTSIDE OF THE 40 MILES.
SO WE DO SUBMIT OUR MILEAGE FOR THAT.
HOWEVER, THAT'S IN THE CITY'S BUDGET, NOT IN THE EDC BUDGET.
AND THIS CARD WOULD BE SPECIFIC FOR EDC EXPENDITURES, NOT, NOT CITYSIDE EXPENDITURES.
JAMIE, IS THERE ANY, IS THERE, IS THERE LIKE A CITY THAT YOU'VE SEEN THIS WORK IN, LIKE IN MEETING WITH OTHER, UM, EDC DIRECTORS IN, IN VARIOUS CONFERENCES? HAVE YOU SEEN THIS WORK BEFORE
[00:30:01]
THAT THERE'S A GOOD FOUNDATION THAT WE COULD, YOU KNOW, KIND OF BASE THIS PROCESS ON, YOU KNOW, KIND OF A TEMPLATE OR SOMETHING? CANDIDLY, I'VE NOT ASKED.THIS JUST CAME UP FROM LOOKING FOR YEAH, I'M, I'M HAPPY TO REACH OUT TO OUR NEIGHBORING, UM, EDCS AND CITY DEPART.
SEE I THAT BE, I THINK THAT HOW THEY'VE STRUCTURED IT EITHER WAY, I MEAN, IF, IF WE DO IT OR NOT, I THINK THAT'D BE A GOOD, UM, A GOOD FOUNDATION PIECE FOR US JUST TO UNDERSTAND HOW IT'S BEING USED, UNDERSTAND, YOU KNOW, THE POTENTIAL RISKS, UNDERSTAND THE POTENTIAL, UH, OPPORTUNITIES THAT THIS PRESENTS, AND THEN FROM THERE MAKE A, MAKE A SOUND DECISION VERSUS, YOU KNOW, KIND OF GOING OFF OF OFF THE CUFF HERE, WELL BEING USED AND HOW THAT IS, I MEAN, WE WOULD ULTIMATELY, IN MY MIND, WE WOULD ULTIMATELY LOOK AT THE EXPENSES AND APPROVE THAT.
AND IF IT'S NOT APPROVED BY US AND WE SAY NO, THAT DOESN'T LOOK LIKE AN EXPENSE THAT WE SHOULD BE PAYING, THEN IT'S, IT'S, IT'S ULTIMATELY GONNA FALL BACK ON CHANEY.
SO $800 BILL IN SULLIVAN'S, WELL, I MEAN I DON'T WANNA PREVENT HER FROM DOING IT IF IT'S A LEGITIMATE REASON, BUT IT'S ULTIMATELY COMES DOWN TO US AND SAYS, HOW MANY PEOPLE WENT? TWO PEOPLE, WELL WE'RE GONNA DENY THAT OR WE'LL PAY UP TO $200 OR 80 BUCKS EACH OR WHATEVER.
AND THEN THE OFFSET OF THAT GOES BACK TO THE PERSON THAT ACTUALLY CHARGED IT.
AND, AND JUST FOR FURTHER CLARIFICATION, SO THESE WOULD BE ONLY FOR THINGS THAT ARE ALREADY APPROVED CORRECT.
SO THIS IS NOT, OH I HAVE THIS GREAT TRAINING OPPORTUNITY, I'D LIKE TO GO, I'M JUST GONNA GO CHARGE IT ON THE EDC CARD.
RIGHT? IT IS TRAININGS AND APPROVED TRIPS OR UM, EVENTS, ET CETERA.
SO THE ONLY THINGS THAT WOULD BE SOMEWHAT SUBJECTIVE ARE, UM, POTENTIALLY LIKE MEALS FOR THE BOARD IF YOU GUYS, IF WE'RE PLANNING A REALLY LONG MEETING OR A WORKSHOP OR SOMETHING TO THAT EFFECT.
BUT AGAIN, THAT'S TECHNICALLY ALREADY APPROVED IN THE BUDGET.
SO THIS WOULD NOT BE AN OFF THE CUFF.
I JUST FEEL LIKE IT OR I THINK IT WOULD BE A GREAT IDEA.
THESE ARE ONLY THINGS THAT ARE ALREADY APPROVED AND IF THEY'RE NOT APPROVED, I WOULD SEEK BOARD APPROVAL PRIOR TO ANY EXPENDITURE AS IS REQUIRED.
I HAVE A QUESTION FOR UH, FURTHER CLARIFICATION.
DO WE NOT HAVE A CARD RIGHT NOW LINKED TO THE EDC? OH, OKAY.
SO WHEN YOU'RE PURCHASING THESE THINGS, WHERE DOES THAT, WHERE IS THAT? IT'S ON THE CITY'S PURCHASING CARD.
AND THAT'S WHAT'S CREATING THE RECONCILIATION CHALLENGE AT THE MOMENT.
SO MY QUESTION IS WHEN THIS SAYS BUSINESS CREDIT CARD, BUT IF YOU'RE ONLY DRAWING OFF OF A, AN EXISTING BALANCE, WHY IS IT NOT JUST A DEBIT CARD? DEBIT CARD COMES DIRECTLY OUT OF, UH, OUR BANK ACCOUNT VERSUS THIS WOULD BE A SEPARATE LINE OF CREDIT THAT SHE WOULD BE ABLE TO ACCESS.
YEAH, MY UNDERSTANDING IS IT'S FOR SECURITY REASONS BECAUSE IF THE CARD WAS COMPROMISED, TYING IT DIRECTLY TO A BANK ACCOUNT IS ILL-ADVISED.
UM, ADDITIONALLY IT GIVES US A LITTLE BIT MORE COVER WHEN IT COMES TO DISPUTING TRANSACTIONS IF THE CARD WAS COMPROMISED.
THAT'S BASICALLY WHAT I WAS DOING.
THAT THAT'S MY UNDERSTANDING FROM WHAT FINANCE HAS SHARED WITH ME.
SO THAT'S CORRECT BECAUSE WITH A AS TO WHY A CREDIT CARD WOULD BE MORE APPROPRIATE.
SO WOULD IT BE THE SAME BANK THAT THE CITY USES FOR THEIR P CARD OR IS THIS A OUR CURRENT INSTITUTION? NO, THIS SHOULD BE LIKE A, WELL, AGAIN, I WOULD ASSUME THAT WE WOULD WANNA STICK WITH WHERE WE ARE CURRENTLY BANKING FOR THE CORPORATION.
SO I WOULD EXPECT IT WOULD BE A WELLS FARGO CREDIT CARD.
WELL, HARD TO GET CREDIT CARDS FOR NONPROFITS.
I THINK I'LL ADD YEAH, FOR NOW, UNLESS SOMEONE ELSE IS GONNA SAY SOMETHING, BUT, UH, Y'ALL DO HAVE AUTHORITY UNDER YOUR BYLAWS TO DELEGATE SIGNATURE AUTHORITY TO BUT YOU CERTAIN CITY.
SO THAT'S THE AUTHORITY FOR DOING SOMETHING LIKE THIS.
DO WE NEED TO TAKE ACTION ON THIS? UH, I KNOW I WOULD APPRECIATE SOME CLARITY AROUND WHAT YOU, WHAT THE BOARD WOULD LIKE TO SEE AS NEXT STEPS FOR THIS ITEM.
SO IF THERE'S MORE DISCUSSION OR IF SOMEONE WANTS TO MAKE A MOTION TO SEE IF IT GOES
BUT I THOUGHT WE WERE TALKING ABOUT THE DAILY LIMIT, UM, FOR THESE TYPE OF THINGS WOULD BE DIFFICULT TO PURCHASE.
IT'S LIKE IMAGINE WE'RE TRYING TO GET A BOOTH AT ICSC RIGHT? BUT WE ALREADY KNOW WHAT ICSE IS.
WE KNOW THE DATES WHEN ICSE IS.
SO THEN SHE WOULD COME TO MAKE A AMENDMENT.
SHE WOULD PUT IT ON THE AGENDA AND SAY, AND THEN WE WOULD DO A TEMPORARY
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INCREASE, RIGHT? LIKE TREAT IT LIKE A CAPITAL EXPENDITURE.'CAUSE WE ALREADY KNOW WHAT LARGE EXPENSES WE HAVE.
NOW SOMETHING LAST MINUTE THEN, I MEAN THAT'S THE ONLY CAVEAT IS THAT, GO AHEAD AND FINISH YOUR MOTION AND THEN WE'LL SEE, WE'LL SEE WHERE WE'RE WITH THAT.
CHAIR, I'D LIKE TO MAKE A MOTION TO APPROVE SIX FOUR WITH THE AMENDMENT THAT THE BUDGET, WELL THE DAILY LIMIT NOT EXCEED $500.
AND ALSO ANY LARGER PURCHASES THAT EXCEED $500 BE PRESENTED BY THE BOARD WITHIN FIVE BUSINESS DAYS.
EVERYBODY CLEAR ON THE MOTION? I WOULD SEEK A POINT OF CLARIFICATION.
UM, AND THEN ARE YOU ADDITIONALLY REQUESTING THAT A, UH, CARD USE POLICY IS, IS BROUGHT BACK FOR THE BOARD'S REVIEW? YES.
CAN WE ALSO MAKE A, A MOTION, WELL MAKE SURE THAT THE POLICY IS ALL SIGNED BY THE BOARD, JUST THAT WE ARE ALL CLEAR ON THAT POLICY? YES.
WE'LL BRING IT BACK FOR YOUR REVIEW AND YOU'LL HAVE PLENTY OF TIME TO ASK QUESTIONS AND INPUT AND GO OVER IT.
SO, GOT A MOTION ON THE FLOOR.
SO I GOT A MOTION TO APPROVE ITEM SIX FOUR FOR A, REGARDING A BUSINESS CREDIT CARD FOR THE CORPORATION'S ACCOUNT TO BE USED BY THE DIRECTOR FOR CORPORATE EXPENSES, UM, AS APPROVED IN THE CURRENT YEAR'S BUDGET, NOT TO EXCEED A DAILY LIMIT OF $500 AND ALL EXPENSES GREATER THAN 500 TO BE PRESENTED TO THE BOARD WITHIN FIVE BUSINESS DAYS AND TO DIRECT STAFF AND LEGAL TO COME BACK WITH A POLICY FOR THE BOARD TO, UH, FOR THE CORPORATE CREDIT CARD FOR THE BOARD TO REVIEW.
DOES THAT SOUND RIGHT? YES, SIR.
ANY OTHER QUESTIONS OR COMMENTS? UM, I WON'T BE VOTING FOR THIS.
I THINK THAT WE SHOULD, UM, YOU KNOW, GET SOME, GET SOME PARAMETERS AROUND WHAT OTHER CITIES DO, WHAT OTHER EDCS DO, SO THAT WAY WE CAN BE MORE INFORMED IN MAKING A DECISION.
SO THAT'S JUST WHERE, YOU KNOW, MY, MY LEANING IS ON THIS, BUT I APPRECIATE THE MOTION.
IS THE, IS THE LIMIT YOU'RE PROPOSING IS THAT, IS THAT THERE TO LIMIT LIABILITY? WHY SET IT AS LOW AS YOU HAVE? BECAUSE IT'S JUST MAINLY FOCUSING ON INCIDENTALS.
LIKE LITTLE THINGS THAT WILL POP UP, BUT ANYTHING LARGER THAN THAT, WE SHOULD ALREADY KNOW ABOUT IT ANYWAY.
SO IT'S SOMETHING LIKE, I DON'T WANNA SAY AIRFARE, BUT ESSENTIALLY IT COULD BE SOMETHING TO WHERE, LET'S SAY AT THE LAST MINUTE SHE BOOKS A FLIGHT AND THEN IT'S LIKE, WAIT, I CAN'T GO, BUT THEN I HAVE TO CANCEL THAT FLIGHT.
OR I MAY BE ABLE TO SEND HER INSTEAD THEN THE COST OF A FLIGHT IS CHEAPER, BUT IT'S STILL WITHIN THAT $500 WINDOW VERSUS IF WE JUST SAY, NO, NOT AT ALL, THEN WHO'S GONNA BE ABLE TO PURCHASE THAT LAST MINUTE TRANSACTION VERSUS IF WE SAY NOTHING, WE CAN'T ALL JUST COME BACK EVERY TWO SECONDS FOR EVERY LITTLE PURCHASE.
SO WE SET IT LOW ENOUGH TO WHERE IT STILL GIVES HER SOME CLEARANCE BUT NOT TOO HIGH TO WHERE WE'RE ALL KIND OF LIKE IN THE WEEDS.
I DON'T THINK I ASKED THIS CHANEY, DID YOU HAVE A THOUGHT IN MIND OF HOW MUCH TOTAL LIMIT THIS CARD WOULD HAVE? WHAT'S YOUR TOTAL NEED LIKE IN A, IN A LARGE MONTH THAT YOU'RE NOT LIKE RUNNING TO THE BANK TO PAY IT OFF SO YOU CAN CHARGE SOMETHING MORE? YEAH, SO JUST FOR A POINT OF REFERENCE, UM, FOR THE MONTH OF FEBRUARY I HAD IT TEMPORARILY INCREASED TO I THINK 25,000 BECAUSE I WAS BOOKING ALL OF ICSC STUFF PLUS SOME UPCOMING, UH, SEPARATE FROM THE CORPORATION.
BUT BECAUSE I'M USING THE PCARD, THAT'S, THAT'S HOW HIGH IT NEEDED TO BE TO BOOK SOME OTHER, UM, TRAINING EVENTS, ET CETERA.
SO, UM, I WOULD SAY PROBABLY JUST FOR THE CORPORATION, I WOULD EXPECT A 10,000, MAYBE 12 OR 15 JUST TO HAVE A BUFFER.
SINCE SOMETIMES THINGS ARE A LITTLE MORE EXPENSIVE FROM YEAR TO YEAR, BUT I THINK THAT WOULD BE SUFFICIENT AS FAR AS A, A MAXIMUM CREDIT LINE ON THAT.
MR, DO YOU THINK THAT OF HAVING A LIMIT OF $500 DAILY WOULD CREATE MORE WORK THAT YOU HAVE TO BRING TO THE TABLE OR TO THE MEETING TO GET APPROVAL? OR IS THIS $500 LIMIT,
[00:40:01]
UM, ALREADY APPROVED? IF IT'S APPROVED BY THE BOARD OR IF IT, LIKE, IS SHE ALLOWED TO GO OUT AND DO AN EXCEEDING OF A 500 LIMIT IF WE ALREADY APPROVED SOME ACTION ITEM OR DOES SHE NEED TO GET APPROVAL EVERY TIME? NO, THAT'S THE, THAT'S THE REASON WHY THAT FIVE HUNDRED'S THERE, SO ALLOW FOR HER TO HAVE SOME FLEXIBILITY TO WEAR IT EVERY TWO SECONDS.SO I WAS THINKING LIKE WITH THE TDC TRAINING, THAT WAS $200.
MM-HMM
OBVIOUSLY, YOU KNOW, WE CAN SEEK REIMBURSEMENT SO IT'S A LITTLE DIFFERENT.
BUT IF SOMEONE ON STAFF, I COULDN'T REMEMBER.
DID SHE, DID YOU HAVE TO, DID YOU DO THE TRAINING? NO, SHE WASN'T HIRED YET.
SO PERFECT EXAMPLE LAST MINUTE YOU'RE LIKE, YOU KNOW WHAT, THIS WOULD BE GREAT FOR HER.
NOW IF WE JUST SAY NOTHING NOW THAT'S TWO, THREE MONTHS OR SIX, SEVEN MONTHS FROM WHEN SHE COULD TAKE THAT TRAINING.
UM, JUST POINT OF CLARIFICATION ALSO, THAT WOULD NOT HAVE BEEN BUDGETED.
SO I WOULD'VE HAD TO COME BACK AND ASK FOR A BUDGET AMENDMENT.
SO THERE ARE THINGS THAT ARE BUDGETED IN THE CORPORATION'S ACCOUNT FOR ALL OF THE BOARD TO DO LIKE THE SALES TAX TRAINING.
SO IF I WERE TO BOOK THAT FOR ALL OF YOU $200 A POP TIMES THE SEVEN OF YOU, I CAN'T BOOK THAT IN ONE DAY.
SO THEN I'M ALSO RISKING IT FILLING UP BY THE NEXT DAY, BY THE NEXT DAY, BY THE NEXT DAY.
SO I THINK THERE'S SOME FLEXIBILITY THAT WOULD BE APPRECIATED IN ORDER TO SUPPORT THE INTENT OF THIS REQUEST.
UM, I WOULD ALSO CAUTION THAT NOW THAT WE'RE ONLY MEETING MONTHLY AND IF WE ARE RESCHEDULING MEETINGS LIKE WE DID THIS ONE, IT'S ACTUALLY FIVE WEEKS FROM THE LAST ONE.
AND SO THERE'S CERTAIN WINDOWS OF REGISTRATION THAT EARLY BIRD ENDS AND IT MAY NOT ALWAYS FALL PERFECTLY TO WHERE I CAN REQUEST THAT INCREASE.
I GUESS THAT COULD BE INCLUDED IN THE POLICY THAT IT DOESN'T REQUIRE BOARD ACTION, THAT I'M ABLE TO REQUEST A TEMPORARY INCREASE UP TO SOME OTHER SET AMOUNT.
UM, BUT AGAIN, THESE ARE ALL EXPENSES THAT ARE ALREADY APPROVED BY THE BOARD.
I WOULDN'T BE ABLE TO JUST SAY, OH I WANT HER TO GO TO THIS TRAINING TOO.
IF IT'S NOT BUDGETED, I WOULD HAVE TO COME BACK AND ASK FOR A BUDGET AMENDMENT, SALES TRACKS TRAINING.
WHAT OTHER, WHAT OTHER ONES THAT YOU CAN THINK OF CHENEY THAT, THAT ARE APPROVED BY THE BOARD ALREADY THAT YOU CAN SEE SURE.
SO CAN YOU EXAMPLES? YEAH, SO YOUR ICSE MEMBERSHIPS.
SO IF I WERE TO DO THAT AT ONE TIME, I, THIS TIME I JUST HAPPENED TO DO IT WITH YOUR ICSC, UM, CONVENTION PASS AS WELL.
'CAUSE IT WAS EASIER THAT WAY.
SO I BUT YOUR TEDC MEMBERSHIPS, UM, ANY OF THE TEDC TRAININGS THAT YOU DO, THE SALES TAX TRAINING WAS A GOOD ONE.
UM, I'M TRYING TO THINK WHAT OTHER MEMBERSHIPS YOU GUYS HAVE IN YOUR BUDGET.
THOSE ARE ALL THAT I CAN THINK OF OFF THE TOP OF MY HEAD.
AND CHENEY LOGISTICALLY, IS IT LIKE A HARD AND AND TREASURE COLEMAN MAYBE, MAYBE WEIGHING THE SUIT.
ARE YOU PICTURING LIKE A HARD STOP AT $500, MEANING THAT WE PROGRAM THE CARD TO NOT TAKE MORE THAN $501 OR MOST PEOPLE DO 508 JUST IN CASE THERE'S LIKE A $8 SALES TAX OR AN $8 ATM CHARGE OR SOMETHING LIKE THAT.
ARE YOU PICTURING THAT THIS CARD WILL STOP AT $501 OR ARE YOU PICTURING THAT SHE SHOULD JUST KNOW NOT TO GO OVER $500? NO, WE SHOULD HAVE IT TO WHERE THERE'S A BUFFER IN THERE LIKE YOU SAID.
BUT ALSO IT'S A WAY FOR US TO, WE START OFF LOW AND THEN WE CAN ALWAYS REVISIT THIS, RIGHT? MM-HMM.
BUT I FEEL LIKE IF WE SET IT TOO HIGH, WE, WE PUT OURSELVES IN A SITUATION TO WHERE IT'S LIKE, OKAY, WELL WE DO THIS TEMPORARY INCREASE.
BUT OUR LARGEST EXPENSE AS OF RIGHT NOW EVERY YEAR HAS BEEN ICSE.
SO EVEN IF YOU DID A TEMPORARY INCREASE FOR OUR HIGHEST EXPENDITURE FROM LAST YEAR, SAME AS THIS YEAR, THEN WE STILL HAVE AN IDEA.
I GUESS MY QUESTION TO YOU AND AND CHENEY, WHEN YOU ASKED FOR A P CARD INCREASE, YOU HAD TO MANUALLY, THEY HAD TO MANUALLY TICK YOUR CARD UP, MEANING THAT THERE'S A STOP AT 500 THEN, BUT BECAUSE YOU NEEDED TO GO, LET'S SAY TO A THOUSAND, THEY HAD TO CHANGE YOUR LIMITS TO WHERE YOU COULD GO UP TO A THOUSAND IN THE SYSTEM TO WHERE YOU CAN MAKE THE PURCHASE AND IT WOULD GO THROUGH.
SO THE WAY THAT THE PER THE PCARD IS SET UP ON THE CITY SIDE IS THAT, UM, MY SUPERVISOR AND PURCHASING HAS TO APPROVE THE REQUEST.
SO I HAVE TO PUT IN A WRITTEN REQUEST THAT SAYS I NEED TO INCREASE FOR TO THIS AMOUNT FOR THIS LONG, FOR THIS REASON.
UM, AND THEN THEY GO THROUGH IF ONCE MY SUPERVISOR APPROVES IT, THEN PURCHASING IS AUTHORIZED TO GO AHEAD AND MAKE THAT MANUAL CHANGE AND THEY'RE ABLE TO JUST SET THOSE PARAMETERS IN THERE WITH THAT DATE AND SO IT'LL AUTOMATICALLY DEFAULT BACK TO THE PREVIOUS SETTINGS.
UM, I DID JUST WANNA POINT OUT ALSO FOR THE TEDC MEMBERSHIP, THAT'S $550,
[00:45:01]
SO I WOULDN'T EVEN BE ABLE TO DO ONE OF Y'ALL.SO I FEEL LIKE IF WE CAN ADJUST IT TO WHERE PEOPLE FEEL COMFORTABLE, BUT IT'S, IT'S MEETING THE INTENT OF THE EFFICIENCIES THAT WE'RE HOPING TO CREATE.
I THINK THERE'S A, A HAPPY MEDIUM THERE SOMEWHERE.
'CAUSE I HAVE ONE FOR MY STAFF AT, IN MY REGULAR JOB AND IT'S BASICALLY, IT'S A WINDOW.
YOU LEAVE IT OPEN SO YOU SAY, HEY LOOK, I GOT A LOT OF BIG EXPENSES THAT NEED TO TAKE PLACE.
SO YOU WOULD LEAVE IT OPEN FOR THREE DAYS.
THAT WAY YOU ARE ABLE TO SEE EVERYTHING.
SO IF WE COULD PUT THAT IN THE POLICY, I DON'T KNOW IF THAT NEEDS TO GO AS AN AGENDA ITEM OR IN THE POLICY COUNCIL.
THAT WOULD JUST BE IN THE POLICY POLICY AND THEN WE REVIEW IT AND APPROVE THAT'S A STANDARD ITEM.
SO IT STILL GIVES HER THE FLEXIBILITY, BUT AT LEAST ON OUR END, WE KNOW THAT $500 IS THE FLOOR AND THEN WE COULD CEILING YOU MEAN? WELL YES, THE CEILING.
AND THEN IF WE NEED TO BREAK THROUGH THE QUOTE UNQUOTE GLASS CEILING, THEN WE YOU LIKE THAT? YEAH.
BUT SHE HAS THAT NOW THE QUESTION IS, IS WHO WILL APPROVE THE OPENING OF THE WINDOW TO EXPAND IT? MM-HMM.
I GUESS WE WOULD KNOW THAT WHEN WE GET A CARD OR VISIT WITH THE CARD AND SEE HOW EASY IT IS TO ADJUST IT ONLINE.
IT COULD BE AN ONLINE FEATURE THAT WITH THE CREDIT CARD.
SO IT CAN BE RELATIVELY EASY LOGISTICALLY, I GUESS YOU'RE TALKING ABOUT PERSON, RIGHT? BECAUSE IF SHE'S GOT ACCESS TO IT, THEN WHETHER IT IS CHAIR, VICE CHAIR, SOMEBODY THAT WOULD BE RECOMMENDED IN POLICY.
WELL WHAT IT SOUNDS LIKE TO ME, WHENEVER YOU'RE PURCHASING ANYTHING AND IF YOU'RE PURCHASING IT FOR THE BOARD, IT SOUNDS LIKE YOU'RE GONNA SPEND MORE THAN $500 FOR BASIC THINGS OF, FOR THE WHOLE ENTIRE BOARD.
SO IT SEEMS LIKE IT MIGHT BE A LITTLE MORE WORK ON YOUR END TO GET THAT WINDOW OPENED EVERY TIME YOU WANNA PURCHASE SOMETHING FOR OUR BOARD.
SO I WOULD UM, I DO LIKE THE, YOU KNOW, THE CEILING BUT ALSO WHAT WOULD BE IDEAL SO THAT YOU'RE NOT GOING AND REQUESTING IT EVERY SINGLE MONTH OR EVERY, EVERY WEEK, YOU KNOW, SO IT DOESN'T MAKE MORE WORK FOR YOU.
UM, SO WHAT NUMBER DO YOU THINK THAT THAT IS FOR YOU? 'CAUSE YOU'RE THE PURCHASER, SO, OKAY, SO WE DO HAVE A MOTION ON THE FLOOR, UM, NOW, SO WE'LL WE WILL GET THROUGH THAT MOTION FIRST IF YOU GUYS WANT TO ENTERTAIN ANYTHING OUT OUTSIDE OF THAT, THEN WE CAN, DOES THAT SOUND RIGHT? OKAY.
SO WE HAVE A MOTION ON THE FLOOR.
UM, OH GOD, I'M AFRAID TO READ IT AGAIN 'CAUSE SO MUCH TO PUT IN THERE.
SO A BUSINESS CREDIT CARD FOR THE CORPORATION ACCOUNT TO BE USED BY THE DIRECTOR FOR CORPORATE EXPENSES AS APPROVED IN THE CURRENT YEAR'S BUDGET, NOT TO EXCEED A DAILY SPEND LIMIT OF $500.
UM, ALL EXPENSES OVER 500 SHOULD BE PRESENTED TO THE BOARD WITHIN FIVE BUSINESS DAYS AND DIRECT STAFF, UM, AND LEGAL TO COME BACK TO THE BOARD WITH A POLICY AROUND THE CORPORATE CARD OR THE BUSINESS CREDIT CARD.
UM, ANY OTHER DISCUSSION? CAN I GET A ROLL, UH, ROLL CALL PLEASE? DO WE HAVE A SECOND? YEAH, A SECOND.
SO A MOTION WAS MADE BY TREASURER COLEMAN AND THE, UH, SECOND BY BOARD MEMBER, UH, OWENS.
WE GOOD? AND THEN YOU UH, I BELIEVE YOU'RE GONNA ASK FOR A ROLL CALL CHAIR.
YEAH, I'VE ASKED FOR, ASKED FOR A ROLL CALL? YES.
BOARD MEMBER MINTON NAY GREATS.
DO YOU WANNA ENTERTAIN ANY OTHER MOTIONS ON THIS CHAIR? I'LL MAKE A MOTION TO, UH, DIRECT STAFF TO BRING BACK A, UM, I DON'T WANNA CALL IT A STUDY, BUT LIKE A, A PREFERENCE ON, UM, A POTENTIAL DAILY LIMIT AS WELL AS A, AS POTENTIAL.
UH, WHAT IS IT NOT? IS IT CARD LIMIT? IS THAT WHAT WE WERE DAILY SPEND LIMIT? YEAH, DAILY SPEND LIMIT.
UM, AS WELL AS A, UM, A TEMPLATE FOR HOW, UM, CITIES WITHIN WILLIAMSON COUNTY UTILIZE A, UH, BUSINESS CREDIT CARD FOR CORPORATION OR FOR ECONOMIC DEVELOPMENT, UM, VENTURES OR PURCHASES.
DO I HEAR A SECOND? I'LL SECOND.
[00:50:01]
SO THE MOTION IS FOR US TO DIRECT STAFF AND LEGAL TO COME BACK WITH A POLICY, UM, ON THE USAGE OF A BUSINESS CREDIT CARD TO INCLUDE DAILY SPEND LIMITS, UM, LOOK AT, LOOK AT AND SEEK OUT, UM, TEMPLATES FROM OTHER CITIES ON HOW THEY'VE EFFECTIVELY USED A CORPORATE CREDIT CARD OR BUSINESS CREDIT CARD.DOES THAT SOUND ABOUT RIGHT SIR? IT DOES.
ANY OTHER QUESTIONS OR DISCUSSIONS ON THIS? CHENEY, DO WE HAVE ANY OTHER IN THE HORIZON OF WHERE THIS MAY BE A CONCERN FOR YOU PURCHASING SOMETHING OR YOU CAN THINK OF BEFORE WE GET THIS BACK? UH, NOT PRIOR TO GETTING THIS BACK.
AND WE HAVE A P CARD SYSTEM STILL IN PLACE, RIGHT? YEAH.
SO I MEAN THERE'S, THERE'S A CATCH.
CAN I GET A ROLL CALL PLEASE? VICE CHAIR LUCAS AYE.
BOARD MEMBER MINTON AYE THE MOTION PASSES FIVE TO ONE.
THE BOARD IS WILL NOW RECESS HIS OPEN MEETING AND CONVENE IN EXECUTIVE SESSION PURSUANT TO TEXAS GOVERNMENT CODES.
SECTION 5 5 1 0.00 OR OH SEVEN ONE ATTORNEY CONSULTATION 5 5 1 0.087 ECONOMIC DEVELOPMENT AND 5 5 1 0.07.
TWO REAL PROPERTY TO DELIBERATE AND SEEK LEGAL ADVICE REGARDING THE CORPORATE FINANCIAL OBLIGATIONS, INCLUDING OBLIGATIONS INVOLVING THE CITY OF HU RETAIL AND RESTAURANT INCENTIVES, WORK WORKFORCE INCENTIVES, EXPANSION INCENTIVES, ESD THREE SALES TAX SHARING AGREEMENT, SALES TAX SHARING AGREEMENT WITH THE CITY OF HU AT THE UH, JRS INCENTIVE AGREEMENT PROJECT SEVEN SPINE ROAD CONSTRUCTION PROJECT, THE MEGASITE PROJECT, THE PROJECT SKYBOX PROJECT SQL PROJECT, TITAN PROJECT STRAT THREE PROJECT FLEX PROJECT VANILLA WAFER PROJECT CG TWO, THE PLANNING AND DEVELOPMENT OF THE COPPERWOOD PROPERTIES AND THE EVALUATION EVALUATIONS AND AVAILABLE CORPORATE FUNDS FOR INCENTIVES.
WE'VE ENTERED IN THE EXECUTIVE SESSION.