HomeMy WebLinkAboutMinutes_GGAF_07.06.2022Minutes
General Government and Finance Advisory Board
City of Georgetown, Texas
Wednesday, July 6, 2022, at 4:00 PM
The General Government and Finance Advisory Board met on Wednesday, July 6, 2022, at 4:00 PM at
City Hall, 808 Martin Luther King Jr Street, Georgetown, Texas
Board Members Present:
Kevin Pitts, Chair
John Price
Michael Charles
David Griffith
Ben Stewart
City Staff Present:
David Morgan, City Manager
Leigh Wallace, Finance Director
Elaine Wilson, Assistant Finance Director
Christi Rawls, Assistant Controller
Danella Elliott, Board Liaison
Others present:
Regular Agenda:
Kevin Pitts Called the meeting to order at 4:01 p.m.
Board Members Absent:
A. Consideration and possible action to approve the minutes from the March 23, 2022 General
Government and Finance Advisory Board Meeting -Sharon Parker, Board Liaison
Motion to approve the minutes from March 23, 2022 by Ben Stewart second 6 v Michael Charles.
Approved 5=0
B. Presentation and discussion regarding accounting change under GASB 34-modified approach to
certain infrastructure (Streets) for FY 2022. Christi Rawls, Asst. Controller
Christi Rawls gave the presentation. David and Christi responded to questions from the board. They
explained that the change from Modified to Straight Line Depreciation is needed to be in compliance
with GASB34. The Fiscal and Budgetary policies will also be updated to reflect these changes,
including verbiage to written to make this change obvious.
No action needed
Minutes
General Government and Finance Advisory Board
City of Georgetown, Texas
Wednesday, July 6, 2022, at 4:00 PM
C. Discussion and possible action to recommend proposed changes to the Fiscal and Budgetary
Policies as part of the FY2023 budget development process. — Leigh Wallace, Finance Director
Leigh gave the presentation. She explained the changes and responded to questions regarding the
policy changes. Regarding Section III Paragraph G - Pitts asked if there were limitations to the
number of times a department can transfer $5,000 within the operations & maintenance or capital
line items within a cost center with approval from Finance. Leigh responded that there were no
limits. He also suggested adding "within 14 days" to notify Council for expenditure of funds for
emergency circumstances.
Griffith inquired about the role of the GGAF Board going forward. Pitts explained that the end goal
was for this board to become a subcommittee of council to create more efficiency.
Motion to recommend the proposed changes as part of the FY2023 budget development process and
to include the suggested changes to notify Council as soon as practically possible but within 14 days
for expenditure of funds for emergency circumstances by Michael Charles, second,bZ Ben Stewart.
Approved 5=0
Meeting adjourned at 5:01 p.m.
Kevin P' is
Boar WCir
David Griffith
Board Secretary
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