MINUTES OF THE SEPTEMBER 17, ,2024 CITY COUNCIL SPECIAL  MEETING  A special meeting oft the Hopewell City Council was held on Tuesday September  17, 2024 at 6:30 p.m.  PRESENT:  John B. Partin, Mayor Jasmine Gore, Vice Mayor (Absent) Janice Denton, Councilor Brenda Pelham, Councilor Dominic Holloway, Councilor Rita Joyner, Councilor (Virtual) Michael Harris, Councilor  Councilor Holloway makes a motion to allow Councilor Joyner to participate  remotely, Councilor Harris seconds the motion.  ROLL CALL  Vice Mayor Gore- Councilor Denton- Councilor Pelham- Councilor Holloway- Councilor Joyner- Councilor Harris- Mayor Partin- Motion Passes 5-0 Regular Business  Absent Yes Yes Yes Abstain Yes Yes  R-1 - Finance Committee Report - CFO - Stacy Jordan, Finance Director Stacy Jordan, Director of Finance, starts the meeting by advising this is the August finance committee meeting showing the overview of the citywide budget's actuals for    July and August. Stacy explained August is 0.57% higher in revenue in 2025 versus 2024. She shared the numbers are trending less than they should for August. She explained the numbers should be higher, the detail for revenue over expenditures is projected to be 11.1% and they should be 16% due to being in the first two months of the fiscal year. She provided comments for revenues and the increases or decreases for 2024 versus 2025. Stacy stated there will be no additional funding from the federal government as well as additional payments that will be removed at the end of 2024 and transfers with a slight increase to other funds. July and August is trending higher than 2024 and the same applies for general funds making the city roughly 16.6% or 11.4 million in revenues. She shared the city of] Hopewell key due dates of December, February, and June for real estate and personal property taxes. She explained there are services provided by the city for residents that are paid for by the taxes that are received such as federal state funds, and permit fees. Stacy discussed the Enterprise funding budget trending more in revenue for 2025 versus 2024 and the same concept applies for each oft the funds that the city maintains. She shared the increase in revenue figures for the school system. Stacy stated the needs of the city of Hopewell greatly outweigh the revenue that are currently being received, the city is heading in the right direction. She shared it will take participation from not only the departments but residents as well as council. She showed the breakdown for the increase and where it came from for the fiscal 2023 versus 2024 year such as addition billing for real estate, public service, and collections. She explained penalties of interest was increased due to collection permits and fees that are variables meaning variable revenues based off ofwhat they bill for example permits ofa any kind of shared fees. Stacy shared for the year 2025 they have already stated to spend some of the surplus from 2024, explaining where some of the surplus went taking the figures for 2024 down to 5.5: million in surplus. Stacy stated once the annual comprehensive financial report is back for the fiscal year to receive al bond rating for the city tol have an opportunity to start refinancing some oft the debt. She shared the three national rating agencies Moody's, S&P, and Finch and the different things they use to measure ratings as far as management and polices. Stacy went into details about the different measures ofrevenue each company uses to get their ratings. She went into more details about the increases and decreases in debt and how they contribute to the bond rating. Stacy shared some items they would bring up at the next finance meeting to include a sewer rate study, the HWR true ups analysis for 2024 as well as an update on the 2021-2024 ACFRS. Stacy opened the floor to questions. A few questions were  answered. V  R-2-Treasurer's Report - Shannon Foskey, City Treasurer  Shannon Foskey, City Treasurer, opens the meeting by delivering the delinquencies for personal property real estate, Machinery, public service, as well as business licenses. She explained the work they were doing with the commissioner ofrevenue office such as what    has been billed out and what has been collected. Shannon shared for personal property in 20191 to 2022 is currently with TACS and as oflast month it was reported $3,842,655.82. As oft today, the amount is $3,015, 565.99. She included the 2022 and 2023 assessment value from the commissioner and what was billed for the commissioner. Shannon continued by stating personal property was $6,828,215.25. Shannon stated as requested from 2022-2023, What was billed, what was collected, and what is currently delinquent. She explained they will be making a decision on sending particular vehicles to auction and they will be putting boots on1 the 2023 vehicles starting in October. Shannon stated this will bring action to the city and going forward it will be understood that moving forward they will have to continue with making sure that taxes are being paid. She explained 2022 on back is with TACS and they are sending out garnishments and taking the monies out of accounts from the citizens at the time. She stated with the boots going into effect it should help with the revenue coming in and bring in action. Shannon answered questions from council about the financing oft the boots and how it would work to make sure citizens are well aware ofthe new procedures and what will take place. Shannon shared with machinery and tools there is a good collection rate. She explained they pay on time sO there are no delinquencies for 2022 or 2023, in 2024 they only have the first half which isi in June and the second halfis in December. She shared the first halfisi in already in and only one delinquency for the year and ifiti is not paid by a certain time it will go to TACS. Shannon stated for public service it is the same concept and they have not had any issues with public service being paid on time. +Shannon discussed TACS and because 2019 to 2022 is with TACS, they collect for us, they have collected $42,602.25. Shannon stated the in the past Virginia auction has been seizing properties. She also shared for real estate $1,905,902.53 and provided al breakdown for 2022, 2023 and 2024 delinquencies. She shared they sent out 800: notices advising citizens they have until November of this year to make payment arrangements to avoid collections and Jason Dunn, the attorney, will receive the collections and has been doing a great job on collecting the delinquencies. Shannon explained she is developing some kind of SOP or some type of policy sO that everyone can  be on the same page as tol how they should be communicating.  Dr. Concetta Manker discussed the financial policies with the CFO and council. Some of the policies that were discussed are budgets, and emergency funds. Council had a few questions that were answered by Stacy Jordan (CFO) and Dr. Manker. Council asked questions in reference to the bob group and the ERP that were answered by Dr. Manker. Stacy discussed the SOP's that exist for procurement based on more questions asked by  council.  Holloway makes a motion to adjourn.  Yay: 6 No: 0    ADJOURNMENT  Respectfully Submitted,  R-  Ca  Brittani Williams, City Clerk