Finance Committee Minutes 01/17/2023
Finance Committee Agenda
January 17, 2023
County Manager’s Front Conference Room
11:00 a.m.
Board Members in Attendance: Present: Ed Finn ‐ Deputy County Manager; Derek Johnssen – Clerk of Courts
Finance Director; Amia Curry – PUD Operations Support Director; Susan Usher – Senior Budget Analyst OMB
Gene Shue – TMS Director Operations.
Other Attendees: Present: Jeff Klatzkow – County Attorney; Crystal Kinzel – Clerk of the Circuit Court;
Christopher Johnson – Interim Director Corporate Financial Operations; Matthew McLean – Public Utilities;
Jim Gibson.
Phone: Steve Miller – Nabors, Giblin & Nickerson.
1. Call to order – Ed Finn called the meeting to order 11:05 a.m., January 17, 2023.
2. Approval of Agenda ‐ meeting noticed on January 6, 2023.
3. Approval of Minutes from September 20, 2022
Derek Recommended Adjustments
Item 6.1. ‐ Change paid in to paid off in 2025.
Item 7.3 –Delete first to ‐ Expand to meeting to address accounting issues.
Crystal Recommended Adjustments
Item 4.3.i. – clarification on who’s response was noted.
Steve Miller responded that he believed it was himself.
Amia Recommended Adjustments
Item 7.1.III – Change Splitting to Split
– Motion to approve with adjustments Amia, Second Gene, minutes and adjustments, Agenda
unanimously approved.
4. Appoint Chris Johnson to the Finance Committee seat vacated by Susan Usher. Motion by Ed Finn, Second
Derek Johnsen. Appointment of Chris unanimously approved.
1. Discussion on adding representation from GMD North
Will bring back at next meeting
5. Public Utilities Commercial Paper ‐
Ed ‐ Purpose of loan is for budget – not for cash
Utilize existing cashflow /minimize withdrawal
o Hurricane Ian Recovery Depleted Project Budgets
o Additional needs discussed prior to Ian
o $30M to $50M
Crystal – we have cash flow‐ why loan?
o Need a list of Projects
o What about GOBP Money
Amia – GOBP Bond for North East
Crystal – has concerns of tracking of funds of loan for 50M
Susan – explained funds sit in its own fund for tracking
Jim – why approval from board for withdrawals is needed if this was already approved.
Susan explained funding source to Jim.
Ed asked Steve for time frame for approval – Steve responded 3 weeks
Matt – Discussed projects
o Ian Transfers
o Headworks
Derek – Explained benefits of prepayment.
Action: Will provide project list and amount.
6. Ave Maria Conduit Financing –
1. Steve Miller provided information to share – IDA looking for approval Feb 28th
2. Jeff made it known that he was aware, and this was a typical issue with Don Pickworth.
3. Derek asked about anticipated savings.
4. Ed asked Steve to email information to him for the conduit financing to review
7. Florida Local Government Finance Program ‐ Amend/expand the program charter to allow for long term
financing for government entities and conduit tax‐exempt long‐term bonding for eligible entities.
Steve – Collier County one of three founding members of the Commercial Paper Loan Program
o Tools to assist government with smaller communities that are in demand for longer term
bonds.
Jeff said Collier County doesn’t participate in this program – no need to
Crystal asked if there were any risks – Steve replied No risks – Jeff replied the County is at risk and
would like for the board to get out of interlocal agreements.
Steve added that getting out of the agreements doesn’t affect borrowing.
8. Other Business –
1. Derek – Suggested to committee that more finance meetings during the year be considered.
Ed asked committee to meet every month or every 6 weeks – every six weeks was
agreed to.
2. Ed ‐ FEMA Recovery ‐ Chris gave update.
Weekly Meetings with different departments and FEMA consultant being held
discussing purchasing, budget amendments, utilities, transportation, solid waste etc.
Disaster Fund 727
Beaches
3. Crystal – Topics to Expand to future meeting
Gas surtax
Mental Health Facility
Concern over amount of owned land by collier county / CRA
Susan responded she wasn’t sure the CRA needed to be in a finance meeting
4. Derek – Topics to Expand to future meeting
Annual Debt Report
5. Updates to be considered
Grant issues
Economic development
Rate studies for solid waste, utilities, impact fees, surtax status
Bylaws for committee meetings
Crystal will get these
6. Gene – Brought up anticipated TMSD shortfall of $200+ Million
9. Public Comment
1. Jim Gibson ‐ Appreciation of the committee to allow him to participate.
2. Adjourn – Next Meeting – TBD
12:23 Motion to adjourn Unanimous