Miami City Council
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[00:04] There we go. We'll now call it over the regular City Council meeting for today's date and time.
[00:12] Item 2 is proclamation declaring April 15th through 21st of 2018 Community Crisis Center Volunteer Appreciation Week.
[00:20] I don't know is there anyone here from the Crisis Center? Okay.
[00:24] Then I'm going to read through this and then present it to you.
[00:29] Okay. Declaration of April 15th to 21, 2018 is Community Crisis Center Volunteer Appreciation Week in the city of Miami, Oklahoma, Ottawa County City of Miami, Ottawa County, Oklahoma.
[00:41] Whereas Mayor Rudy Schultz and Miami City Council believe it is important to recognize citizens who distinguish themselves by various means
[00:47] and who have made significant contributions in our community. Whereas the City Council believes the community crisis center volunteers are such individuals
[00:55] and worthy of being recognized for their significant contributions.
[00:58] Whereas community crisis volunteers have provided support and understanding for local victims of domestic violence, sexual assault and stalking.
[01:06] Whereas in true partnership volunteers meet the needs of the community by supporting and serving the administrative functions of the community crisis center.
[01:14] Whereas local volunteer actions are powerful force for the solution of problems in our city.
[01:18] Whereas volunteering offers young and old the opportunity to participate in the life of the community and to link their talents and resources to address the issues
[01:25] of domestic violence, sexual assault and stalking facing our city.
[01:30] Whereas the City of Miami is committed to encouraging volunteerism among its employees, partners, businesses, organizations and citizens.
[01:37] Whereas volunteers are vital to our future as a caring and productive city.
[01:41] Thousands of volunteers working in our community utilize their time and talent daily to make a difference in the lives of local families.
[01:48] Now, therefore, be it resolved that miracles in the Miami City Council to hear by declare April 15 through 21st, 2018.
[01:55] This community crisis center volunteer appreciation week within the city of Miami.
[02:03] Okay.
[02:16] There's always a poll for the one here.
[02:23] Okay.
[02:24] Okay.
[02:37] Item three is public input and unscheduled personal appearances.
[02:39] Anyone that wants it was to address the council on any of the agenda items.
[02:44] Item four is consent agenda staff is recommending items five through 13 for the consent agenda.
[02:52] If there are no questions on any of those items, then I'm going to pay the motion to approve.
[03:00] And a second roll call, please I'm 14 performative presentation by Crawford and Associates Ms.
[03:15] Brenda White.
[03:16] Hi, Brenda.
[03:17] How are you?
[03:18] We only see you once a year.
[03:19] At least we only see you once a year.
[03:21] We only see you back.
[03:33] We're hearing this and the original introduction of my Crawford came up with what they call
[03:43] reform.
[03:44] I believe a bunch of financial ratios that help you to analyze that big book we give you
[03:50] over a year that you're able to find your financial statement.
[03:52] I know you all write a cover cover because you haven't solved me and I get it.
[03:56] So this just kind of summarizes and puts a perspective where how you are doing.
[04:01] So if you flip a word starting on pay five, this is your roll break.
[04:06] And 2060, you are 17, you are 17, and 2070, and you're up to 6.0, and there's only one reason
[04:14] for that drop.
[04:15] But it's not a bad reason.
[04:16] You refinance your bonding anticipation notes, which we're the notes that you issue to build that
[04:22] stadium out there.
[04:24] And that original issue and the assets related to that issue are in your NCFA.
[04:29] But when you refinance that debt, because it came to maturity, it was short term finance, and
[04:34] you had to refinance it.
[04:35] The way you structured it, that debt is now into your government like today.
[04:40] So where your debt is, and where you're asked that is into different places.
[04:43] And that's the only reason for your drop.
[04:45] This is your main area.
[04:46] And that's what's causing the issue.
[04:50] And that's what's causing the issue.
[04:52] As you pay that debt off, if everything else stays the same, your numbers should go back up.
[04:59] And I will tell you this drop, I'm not worried about her debt.
[05:02] Other cities that we do this for, you guys look good.
[05:05] You look good.
[05:06] So that's kind of just overall where you fell in and you go over.
[05:11] And I will go through this quickly.
[05:13] If there's a pay, if you want to ask about tell me, otherwise, I'll just kind of stand it.
[05:17] Thank you, seven.
[05:18] The letter that I'm in strict with that position.
[05:21] If we take all your assets, I'll look, all your item like the least, for all of your funds, including enterprise and government.
[05:27] And we take what's left.
[05:28] That isn't legally restricted.
[05:30] Do we still have anything else?
[05:32] And we back out to capitalize that and the debt that relates to that, what you have left.
[05:38] And you went negative this year.
[05:40] And the reason you did that is begins because of the debt.
[05:43] You have that that $9 million worth of debt on your financial statements.
[05:47] But the assets are over in that separate agreement.
[05:50] So it's just kind of an odd situation.
[05:53] It's not a thing that throws up a red flag to us.
[05:56] It's nothings where we're saying, well, wait a minute.
[05:58] What happened?
[06:00] We know exactly what happened, we know what caused it, and as you pay off that debt, it's going to reverse.
[06:06] So, when we had the bond anticipation notes, where was that debt sitting different?
[06:13] That debt was sitting in the NCFA.
[06:15] The debt was matched to the asset, and it was because of how the debt was structured.
[06:19] The way the new debt is structured, being paid back with sales tax, that becomes governmental debt.
[06:24] We looked at many options.
[06:26] We looked at can we keep the debt in the NCFA?
[06:29] To do that, we caused an accounting nightmare.
[06:31] With all the funds you would have to transfer back the work forth to make it all work.
[06:35] We looked at can we move the assets?
[06:38] We chose not to move the assets after much discussion with staff and everybody else, because that asset is tied to a long-term lease with estate agency.
[06:48] And we felt her better left off where they were originally built for tracking purposes, and in case any issue came in in the future.
[06:56] So, it's just one of those odd things.
[06:58] It's a periodically, these crop up and government.
[07:00] Well, we would be honest, they're probably the one and the other.
[07:02] But it's just one of those weird things that you felt it, too.
[07:08] I would not realize, I guess.
[07:10] I mean, we're always knew what the sales tax was for.
[07:12] So, there was no, that's just the reality of it.
[07:16] I didn't realize that the bond anticipation notes resided with the NCFA.
[07:22] They did.
[07:23] At the time, it has that way that structure, and it was hopeful that there would be revenue
[07:27] to help pay off everything.
[07:29] And there's not enough revenue to pay off a amount of debt that equals the back as you know,
[07:33] off that facility.
[07:35] Okay.
[07:36] Okay.
[07:38] Page 8.
[07:40] Your level of general fund and the sign for balance.
[07:42] Your general fund is your main operating fund for non-utility purposes.
[07:46] Okay.
[07:47] And when we look at the general fund, we take away any money that's restricted.
[07:51] What should have led is an assigned fund balance.
[07:54] And you dropped around 17% of the balance of $5.00 to $13.00.
[07:59] You're going down.
[08:00] If you look at the history of the years, that's not the lowest you can.
[08:05] What's causing this, what's causing this is what it do makes.
[08:09] You're using your reserves to help balance your budget.
[08:12] And you, over the years, have been trying to reduce the amount of transfer from the MSUA.
[08:17] So, the less you transfer the MSUA, the more reserves you're going to have to use in the general fund.
[08:24] Or you have to cut expenses.
[08:25] So, if you want to see this number go up, those are your options.
[08:29] I will tell you that 13% reserve is not bad.
[08:32] Most people try to target at least 10% reserve.
[08:35] So, you're above the average.
[08:37] So, where do we see the fact that we're using some of our reserve funds to finance the remodel here?
[08:45] Well, I haven't gotten involved that.
[08:47] And I'll be honest, that's an FY18 budget.
[08:50] Okay.
[08:51] And I haven't looked at those numbers yet.
[08:52] Okay.
[08:53] So, where we're finding it's in that box.
[08:56] I'll be right next.
[08:57] Okay.
[09:02] You have to let that condition.
[09:04] What is the remaining use of life in your assets?
[09:06] How much of you do that?
[09:08] You only have 29% of life in your assets.
[09:10] But this is not a surprise to you.
[09:12] It's been like that forever.
[09:13] When you're buying something, you're using it for much longer than you anticipated.
[09:18] That way, too.
[09:19] I know you have projects on the horizon for electric water sewer.
[09:23] That would cause a visit for my son.
[09:25] But basically, you buy car that the anticipated paper used for five years
[09:30] and keep it at the 10 to 15.
[09:32] So the life of your assets is narrowed.
[09:35] And that's also not uncommon in that way.
[09:39] Because of limited resources.
[09:42] Page 10.
[09:43] This is one of the important things you do.
[09:47] You're not a uniform employee pension plan.
[09:49] So you're not completely your place in fire because they are in your safe life.
[09:53] This is just for all your other employees.
[09:55] You are about 65% funding right.
[09:58] You dropped a little from last year.
[10:00] What mainly caused your drop is the fact that when they do the actual burial,
[10:04] every year, they can do this thing called the discount rate.
[10:07] That discount rate is tied to the meanest bomb on rate.
[10:10] And the meanest bomb on rate is tied to change by 1.2%.
[10:13] So that affects your calculations.
[10:16] 65% is not great.
[10:19] Everybody would like to see a higher because that just makes your hinges high and healthier.
[10:23] But it's also not terrible.
[10:25] It's kind of just hanging right in the middle.
[10:28] So I know you guys have a bunch or a pinch of a plan about not to say it in a little bit more than that.
[10:32] Actually, where it says every year, don't you?
[10:34] Yeah.
[10:35] So you're putting more in it to keep up.
[10:37] I would be worried if you were not putting in the actual apartment.
[10:40] Page 11 is okay.
[10:44] Page 11 is okay.
[10:48] Page 11 is okay.
[10:50] Page 11 is okay.
[10:51] You will see you have an untunned okay plan.
[10:54] And for those of you who do the government, what okay is is the same as the beginning
[10:59] of the county staff report calls your other postman plan of benefits.
[11:02] You have a retiree who gets to stay on your health insurance plan.
[11:07] And have the same premium rates as your active employees is called a blinded rate.
[11:13] And basically, if there are retired rates, it should be a lot higher than some of your younger employees,
[11:18] but we just have one mid blinded rate.
[11:21] So that's share in that benefit.
[11:23] And technically what Gatsby says is, you and the city are helping to pay for portion of their benefit.
[11:28] So then I just booked this liability.
[11:30] Yours is an unfair plan.
[11:32] I only know two funded plans in the state of Oklahoma.
[11:34] And those are your two largest cities.
[11:36] So I have to booked this liability out there every year.
[11:39] The fact that it's zero funded does not really bother me because most people that fund it.
[11:44] I can tell you next year, you're still in a zero on here.
[11:48] This year your liability is $2.7 million.
[11:51] Next year it's going to go back.
[11:53] I would anticipate by at least half a million if not worth.
[11:56] And that's because of change in accounting standards.
[12:00] implement an FYUT. And those standards basically require that they non-calculate, the OPEC
[12:06] calculations, the same way they do pinching calculations with the same actual real standards.
[12:11] So, it's a number. It's going to be out there and you're going to see it. But other than that,
[12:16] I don't think you'll ever find it because some people can't afford to. And you just pay as you go.
[12:21] Page 12. Your assets with that ratio. How much of your assets are being used to pay off
[12:30] and you guys are at about 60% percent. That's not bad. You're at a little bit this year because of the new debt you took on.
[12:39] So, if you take on more of your debt next year, that would go a little bit more.
[12:43] But it's still not a shopping right. It's not a rate where I worry can you make your debt pay this?
[12:48] Because you're just buying a debt category.
[12:51] Current ratio. What is our ability to pay our short-term obligations?
[12:55] Basically, our current assets will be available to you right now.
[12:59] So, here are your current identities. What's the ratio? And you guys are at 3.86 percent.
[13:04] You have 3.8 on more current assets than you had current $1.17. That's a good number.
[13:10] And you've stayed pretty consistent over the 10 year history of doing this.
[13:15] Your quick ratio, if we were just to take your cash and investments, your short-term cash and investments,
[13:22] can care to your current liabilities. How many times can you cover your current liabilities?
[13:26] And you can cover 2.24 times. That's not bad number at all.
[13:31] Okay, that's all of the financial ratios.
[13:36] There's a summary of all of those in terms of care back in the past few years on page 15.
[13:40] I won't go into that. We will put those work and we will look at what we call the financial performance ratios.
[13:47] Okay, 17. The third point is the change in that position.
[13:51] When I take all your assets and I take all your my abilities, and I look at what is left.
[13:56] That is, or take the difference in those. What is the change in those?
[14:00] And this year, your change in that position will be down $9.9 million.
[14:04] And again, how much is the debt you wish you? $9.4 million.
[14:08] So, it's all directly related back.
[14:11] So, it's a big drop. It should have an intuition after that, start coming back up.
[14:16] Not, not, I will worry about that because we know exactly what the cost is.
[14:21] It's not like it's being called because it's just a phenomenon.
[14:24] Okay, if it's because it's simply the debt issue.
[14:28] And in a period of equity, basically, are your customers in exchange for your revenue?
[14:38] Or are you having to use prior and your revenues to pay for this?
[14:41] This year, your current services on your type of 78% of your current services.
[14:48] It's down a little part of that. It's due to the debt.
[14:51] Okay, we expect to come back up.
[14:54] It's not like this is consistently gone down every year.
[14:57] It's not anything that's growing up right in black.
[15:00] The BTA is all tied to that issue.
[15:03] The BTA is self-sufficiency and current key.
[15:07] Do your interpitalist electors, water sewers, sanitation,
[15:11] bring you the enough revenue to pay for their costs and the answer is yes.
[15:16] They covered a 119 cent.
[15:18] Now, this does not include the capital.
[15:20] This just includes operational costs,
[15:22] so you have to live over there.
[15:24] It also does not include anybody you're standing out of as
[15:28] to the general fund, or to another fund.
[15:31] It just includes actual cost of operations.
[15:34] So now, even though you've covered more than your cost,
[15:37] you're still using that money for something else.
[15:40] Okay?
[15:44] That service cover.
[15:45] Anytime you want to bet, certainly that service cover is required.
[15:48] Meaning the pleasure of revenue is for that debt.
[15:51] And in most cases, your pledge revenues have to be
[15:54] of 2.25% of the net of the pledge revenues in the cost.
[15:59] And you guys are covering at 5.36%.
[16:02] That's a great percentage.
[16:03] If you're up there, if there's nothing beer,
[16:06] you can't make your debt payments.
[16:08] Sells tax growth.
[16:10] You're down.
[16:11] I need that in Sells tax.
[16:13] That wasn't a stocking number.
[16:14] And if I recall correctly, I'm all to grow up.
[16:16] So I have my office.
[16:17] I think Sells tax started showing that 20,
[16:20] fit of an increase in about June of 17.
[16:23] So for this report, there's only one left to die.
[16:27] So Sells tax kind started recovering early summer last year.
[16:31] I can't say it's recovering a great amount of statewide,
[16:34] but we're starting to see a tiny bit of an increase.
[16:36] Those are all the performance ratios.
[16:41] And then our next set of ratios is what we call a payability.
[16:45] If you go pay 24, the question is, how much is a revenue
[16:54] between a rate can you control?
[16:56] All you can control are the rates and charges you charge.
[16:59] You can't control the price by tax that comes in.
[17:04] So what percentage of the revenues that you generate can you control?
[17:08] And you guys are 75% that's a pretty good number.
[17:11] I mean, you're not totally relying upon Sells tax.
[17:15] You're debt service load.
[17:20] If you're not a capital, it stems from our building.
[17:24] If you get a service cost.
[17:26] You guys are at $5,000, that's great.
[17:28] I mean, that's a great number.
[17:30] I just think that fluctuating a little bit next.
[17:35] You're going to do this to actually start making payability on it.
[17:38] But it's not going to go up right now.
[17:40] Okay.
[17:43] Your next release line.
[17:44] I think it is.
[17:45] I'll relate to what we call bonded debt per capita.
[17:50] And yours is zero.
[17:51] For you to have bonded debt, you have to issue general obligation bonds.
[17:55] The only way to save a local comment.
[17:57] You can issue general obligation.
[18:00] is to finance a court-assessed judgment, or to go to a vote of the people with capital
[18:06] projects to be able to issue a geo-bond that then goes and is financed through proper
[18:11] attacks. You have no general obligation there. You are not electing a proper
[18:16] attacks on your citizens for anything at this point. So these three slides are
[18:21] zero simply for that fact. It's a financing source you have out there, the
[18:25] country, which can't really do, but it would have voted to be. So then over to page 29,
[18:33] you're local self-tapped rights, and say the same, it's very comparable to other communities
[18:38] in the moment. You're not the highest number of those. None of them really take care of them.
[18:44] And that is the performer in the next show. And I said I would be great, but the week you get
[18:48] really into this in a lot of details. I'll answer questions, or if you have questions later, you can
[18:53] email me, comment if you're willing to send them out. So we just like to be able to give you a
[18:59] perspective of, we take that paperwork and we write it down, overall how do we do? You guys
[19:04] have been pretty good. What's the amount of the average one time I thought of in the past, you
[19:10] said, here's how you're average. And they're about to, I was compared to others, I don't know,
[19:14] that you're fucking, averaging all of these together. Well that's what page five is. When we
[19:19] average it all it comes out to about a six. So we've been the highest in age. Yes. But I can tell you
[19:31] I've seen these down in the ones that we've been also. And I think of this, it's nice if
[19:37] they can, if you have a hundred different accounts, look at it, they might all get something different.
[19:41] This is just the way we come up with with a way more easily, can you take my information?
[19:46] Okay. Question? As we go out to bond to do the structure, how is that going to affect your
[19:58] bond breaking agency for actual literature and what financial statements? And they will take
[20:03] a lot of different factors into account. I can tell you for the bond to do this in FY 17, you've got
[20:08] to get ready. And I don't see anything in the 17 financials that would cause the bond rating
[20:15] aid it to make anything go right down. We're going through that process right now in the $9 for the
[20:20] eight and a half million dollars that you just authorized. So we'll be going through that same process
[20:25] and bringing you that information when we actually issue those bonds. But it won't affect the
[20:31] performance or rating. Our next step. Is the SUA included in that? Yes. Well, we look at this,
[20:39] besides where I just talked about the general fund, everything else that's citywide,
[20:42] it includes everything. So the SUA is going to be occurring that way. Yes, you are exactly. Yes.
[20:51] And so, if you're just asking if that debt will affect, then it will affect your overall numbers.
[20:57] Because it's going to affect your amount of rating cost or the...
[33:00] All the links are in the description.
[33:02] Yourster.
[33:03] Let's do it.
[33:04] I can do it.