City and Borough of Juneau

Assembly Finance Committee Meeting

Wednesday, May 28, 2008 at 5:00 p.m.

 Assembly Chambers

I.      Call to Order

II.     Roll Call

III.    Approval of Minutes

• May 16, 2008 (pp. 2-3)

IV.     AEL&P Update

A representative from AEL&P will provide an update on the status of power restoration.

V.      Electricity Crisis Impacts

At the May 16, 2008 AFC meeting, the committee requested information from the following organizations on the impacts, to both residents and businesses, resulting from the electricity crises.  Representatives from these organizations will present.

• Juneau Unplugged/United Way/Catholic Community Services
• Juneau Economic Development Council (JEDC).  The packet includes the revised Business Electricity Loan Program, Policy and Procedures and an email from Brain Holst, JEDC Executive Director, which summarizes changes made to the loan program. (pp. 4-9)
• AEL&P
• Small Business Administration (SBA)
• Chamber of Commerce

Information on the State of Alaska’s Energy Relief Program is included in the packet. (pp. 10-15)

The following two items were added to the agenda on May 28, 2008, after it had been posted on May 27, 2008:

1. Chamber of Commerce’s request for additional energy cost relief .
2. Position letter from the Mayor Botelho on the use of the Sale Tax Budget Reserve (Rainy Day Fund) .

VI.    Mill Levy

The total mill levy is currently at 10.47 mills with 9.26 for operations and 1.21 for debt service.  Each mill generates $3.98 million, each tenth of a mill generates $398,000 and each hundredth of a mill generates $39,800.

VII.   Pending Items (pp. 16-21)

On May 16, 2008, the AFC adopted the FY09 Proposed (Manager’s) Budget including additional amounts for increased fuel (motor and heating) costs.  Mr. Anderson’s motion to approve the Manager Recommended Items on the Pending Items list was tabled.  The AFC deferred action on the pending items in order to get up-to-date information on the impacts to the community resulting from the electricity crisis.

The Pending Items list is included in your packet and is separated into the following categories.

• Manager Recommended Items
• Additional Funding Requests
• Mayor Botelho’s Recommendations

VIII.   Information Items

• The FY09 Budget, 2008 Mill Levy and 6-year Capital Projects Program are scheduled for adoption on June 2, 2008.
• Mayor’s 1990 Task Force Report (separate document)

IX.     Adjournment