City of Rome June 10, 2024  FINANCE COMMITTEE MEETING  PRESENT:  Committee Chairman Jim Bojo City Commissioner Jamie Doss City Commissioner Wayne Robinson City Manager Sammy Rich Assistant City Manager Meredith Ulmer Finance Director Toni Rhinehart Assistant Finance Director Kraig Ingalsbe Recording Secretary Vicki Blair Guests: City Commissioner Bill Collins  City Commissioner Craig McDaniel City Commissioner Elaina Beeman Dr. Eric Holland, Rome City Schools Superintendent Greg Studdard, Rome City Schools Finance Director Alvin Jackson, Rome City School Board Joe Smith, City Clerk Kelley Parker, Assistant to City Manager Doug Walker, Public Relations Adam Carey, Rome News Tribune  Committee Chairman Bojo called the meeting to order and turned the meeting over to Dr. Eric Dr. Eric Holland opened with a quick discussion regarding the direction the Rome City Schools and how the system compares to others around the state. Hei then turned the meeting over to Greg Studdard to talk about the budget in more detail. He stated that state revenues are increasing by approximately $7 million, but expenditures are budgeted to increase $6 million overall. These expenditures include increases to health insurance premiums and the $2,500 increase for certified employees. The increase also includes $900,000 for a State mandated curriculum expenditure. State health insurance rates are continuing to increase and are currently $21,120 for certified employes and $16,650 for classified employees. The amount for classified employees is expected to increase to $21,120 in FY26. The State provides revenue to cover the cost of approximately 450 teachers; however, there are approximately 575 teachers meaning local funds must cover the increase for all classified employees and certified positions that are not covered by the State. Property tax revenue is budgeted to increase by 5% but the final digest has not been received from the Tax Assessor's office. Studdard reviewed the Amended Formula Adjustment Summary as well as the Budget Comparison from FY24 to FY25. Discussions were had regarding the breakdown ofthe various budgets including Instruction, School Administration, Maintenance and Operations and Pupil Transportation. City Manager Sammy Rich reminded the Finance Committee that the City does not approve the school budget. Instead, it is a process where the budget is presented by the School Board and effectively when the millage rate is set by the Board  Holland for the presentation oft the Rome City Schools 2024-25 Budget.  ofCommissioners the school budget is technically approved at that time.    Committee Chairman Bojo then turned the meeting over to Finance Director Toni Rhinehart for a discussion regarding budget revisions. To meet State budgetary compliance requirements, it is necessary for there to be a budget revision for General Fund and special revenue funds if any department is over budget for the year in expenditures. Several departments in General fund were over budget and required a budget revision. There were changes made to the City Manager's Office budget due to payroll and higher than expected training and education expenses. There was a revision in the Office of Technology Department for an additional employee hired for cybersecurity. Public Works was over their original budget and required a budget amendment to cover. Demolition expenses have increased in the last few years, SO an adjustment was made to cover that increase. Street lighting expenses continue to increase. With the increased utility cost for Georgia Power, al budget revision was necessary. Public Facilities had ani increase due toi repair and maintenance expenses being larger than expected. Town Green and Trails expenses had previously been captured in the Street Department budget, but those have now been budgeted separately for a better understanding of what is being spent in those areas. Several Intergovernmental adjustments were made for budget purposes. Several adjustments were made in Transfers Out to ensure that they are not over budget for the year. A transfer from the ARP Fund was made to General Fund in the amount of $3,735,360. This transfer was made for general government use as allowed by the federal grant guidance. In the TAD Fund, TAD #4 included some excess revenue that would allow for this TAD to bej paid off early. The expenditure to make this payment required a budget amendment. Other funds that are included with this compliance requirement did not have any budget revisions. Ms. Rhinehart asked for a recommendation that the budget revision be presented to the full Commission for approval at their next meeting. It was  approved and seconded without any changes.  The Minutes from the May 1,2024 meeting were approved.  In Other Business, City Manager Rich began a discussion regarding Red Speed Fines that are earmarked only for Public Safety. There have been several recent requests for use of these funds. Because these expenditures were not a part of the original budget, these expenditures should be approved by the full city commission. Going forward, when possible, police will include in their budget witht this funding source: noted. Ifitems come up during the year, these capital expenditures will need to be brought before the full commission for approval. A vote to approve these additional non-budgeted capital purchases was approved and seconded. Mayor Pro Tem Bojo will With no further discussion and no other items to review, the meeting was adjourned.  bring before the full commission at the next meeting for approval.  Respectfully Submitted, Vicki Blair