Finance Committee Minutes 07/05/2022 Finance Committee Agenda
July 5, 2022
County Manager's Front Conference Room
(10:30 AM)
Board members in attendance: Ed Finn, Corporate Financial Operations CMO, Derek Johnssen-Clerk of Courts
Finance Director;Susan Usher-Senior Budget Analyst OMB; Gene Shue-Transportation Management Services
Operations Support Director.
Other attendees: Crystal Kinzel, Clerk of the Circuit Court and Comptroller;Jeff Klatzkow—County Attorney;
Christopher Johnson—Manager—Financial Operations Support OMB; Ken Kovensky—Growth Management
Operations Support Director;Amia Curry—PUD Operations Support Director.
Present by Phone: Trinity Scott—Transportation Management Services Department Head;Sergio Masvidal PFM
Group; Steve Miller from Nabors, Giblin & Nickerson.
1. Call to order: Ed Finn called the meeting to order at 10:33 a.m.
2. Approval of Agenda. Meeting noticed June 24, 2022. Ed Finn motion to approve,Susan Usher second.
Unanimously approved.
3. Approval of Minutes from November 19,2021: Crystal Kinzel suggested update to Item#6 Public Comment
shown in Bold:Jim Gibson expressed appreciation for the Committee providing him the opportunity to
participate in Finance Committee meetings. Gene Shue made a motion to approve including update,second
by Susan Usher, minutes and updates unanimously approved.
4. Appoint Amia Curry to the Finance Committee seat vacated by Joe Bellone. Recommended by Ed Finn,
Second Derek Johnssen. Appointment of Amia unanimously approved.
• Discussion regarding adding Members
i. Ed- Discussed plan to add Ken Kovensky as member for GMD at a future date.
• Discussion on Charter
i. Crystal—Business conversation is needed therefore needs to be non-sunshine.
ii. Jeff—Could be by Ordinance/Staff Only Non-Sunshine Committee
iii. Ed—Working on Charter
5. Commercial Paper Loan Progress.
• Draw A-1-1 Sports Complex
• Draw A-2-1 Pelican Bay
• Sergio—Discussed current rates and expected interest rate increases of.75%to 1% by year-end
• Discussion—Variable rate loans vs.fixed
• Discussion Projects
i. Big Corkscrew
ii. Sports Complex
iii. Crystal—would like communication of projects costs in advance/Ed—Will work with
staff to provide project updates to COC.
6. Discussion of Commercial Paper Loan for Vanderbilt Beach Road Project.
• Fiscal Impact-Gene—Move 600K from impact fees to commercial paper Amia—PUD will be
transferring funding for their share from other projects.
• Contract
i. Price valid for 120 days
ii. 18%over cost estimate
1. FDOT is seeing 20-25% in Collier and up to 50%above in other areas.
iii. Allowance$6m
• Commercial Paper Loan
i. Ed Finn-Motion to approve VBR
ii. Derek Johnssen—Need to include additional projects?
iii. Group discussion on additional projects
1. Mental Health—25M Budget
a. Addition of Medicare Beds-$10-15M
2. Sheriff Evidence Building—$60M
3. Stormwater
iv. Group discussion on approach
1. Option 1—Take all projects to BCC to provide funding flexibility
2. Option 2—Take projects individually with contracts
v. Susan Usher—Motion to approve$30M Commercial Paper Loan for the Vanderbilt
Beach Road Extension Project, Gene Shue second, unanimously approved.
7. Other Business:
• Resiliency Program/Commercial Paper Commission—Steve Miller Discussed with Group
i. Steve to provide Amendment approving expansion to Ed Finn and Derek Johnssen
ii. Recommend Derek and Ed to represent Collier-Approved
8. Public Comment: None
9. Adjourn—Next Meeting—Meeting Adjourned at 11:57 p.m.