2021/06/30 Council Minutes - Laserfiche WebLink

• June 30, 2021 Council Member Vogeli asked for additional detail about the eligibility criteria for ARP funds used to provide premium pay to eligible workers. Deputy Mayor Harper stated he would do some research and report back. Council Member Moore stated that it is important for citizens to better understand through transparency that to maintain the current level of service, lost revenue sources need to be addressed, especially property tax. Council Member Murphy spoke about the unfunded obligation, primarily medical expense reimbursements, of LEOFF I Pension Plan funding for legacy retirees. He strongly recommended that through this year's budget process, a strong commitment be made to fund $48 million liability. Council Member Murphy suggested the unfunded liability could be paid in part by carry over funds. Susy Haugen stated that it was probably premature to speculate on 2021 carry over amounts at this time in the year. She suggested waiting until the year • progresses, probably not before August. President Stonecipher inquired about the ARP guidelines relating to essential workers in the private sector. Susy stated she would need to look at that more closely. President Stonecipher spoke about the six-year forecast. She suggested working with the Finance team to develop projections using the ARP funds to determine how that might change the forecast under different funding scenarios. Council Member Murphy recommended the development a funding model and policy to address the LEOFF I $48 million shortfall so that it is not passed on to future generations. Discussion ensued regarding funding priorities; the importance of Administration and lobbyists to work with the Legislature to address property tax cap;the current inflation and interest rate environment; future medical costs and funding the LEOFF I medical liability, i.e., "pay as you go system"; take opportunity over the • 9