City and Borough of Juneau
Finance Committee Meeting
April 23, 2003, 5 p.m., Chambers

I. Call to Order

II. Approval of Minutes - Minutes of April 16, 2003

III. School District
Juneau School District staff and board members will present the FY04 School District budget. A copy of the School District presentation is included with your agenda.

The Assembly is required to determine the amount to be made available for local support to Education by May 1, 2003. A Special Assembly meeting is scheduled for next Wednesday, April 30, 2003 to meet this requirement.

IV. Investments
On April 16, 2003 a recommendation was presented to the AFC that would provide for an internal portfolio manager. This recommendation would require an increase of 0.47 FTE in the Treasury staff but this would be more than offset by an increase in investment income. The net benefit to the City would be $124,000. Staff was requested to provide additional information regarding this recommendation.

On February 5, 2003, Ruthann Moomy, Callan Associates, gave a presentation to the AFC regarding the performance of the CBJ's third party external manager, Northern Trust, and a recommendation on portfolio management. The recommendation was in support of developing a 3rd investment portfolio. This 3rd investment portfolio could be managed internally or externally. Staff analyzed the pros and cons, costs and expected rates of return on the internal vs. an external manager option and will present the results of their analyses at this meeting.

We will be requesting AFC concurrence on this recommendation.

V. Parking and Moving Violation fine increases
On April 16, 2003, revenue enhancement recommendations were presented to the AFC that would increase parking violations by $5 and moving violations between 10% and 25%. Staff was requested to provide additional information regarding these recommended increases and Police Chief Richard Gummow will present the information at this meeting.

We will be requesting AFC concurrence on these recommendations.

VI. Information Item
A. Legal Opinion on Marine Passenger Fees
Enclosed in your packet is a memo from John Corso regarding changes to the Maritime Security Act of 2002 and the affect this act may have on the City's ability to continue collecting the $5 marine passenger fee.

B. FY04 AFC Schedule, updated 4/17/03