Yeah.

All right.

So seeing that we are all here.

Um I'll go ahead and call this meeting the fiscal special district committee to order on March 13th.

Jeff McCamin City Controller.

Sophia McDowell X office.

Yeah, large tax number.

I'm just in Chang with the REDE financial group.

Non-Tim Sugar with Venetian group.

Sorry, what is that?

Tim Sugar.

Okay.

Okay.

Wonderful.

Thank you guys for being here tonight.

Um, I'm just so used to evening meetings, that's well.

Um so uh first thing on the agenda is the agenda review and approval um controller McCam just mentioned uh changing the agenda from what was published because the Indiana General Assembly updates are gonna come up during the reading discussion, so we can just combine numbers two and three into one big kind of presentation and question and answer and public comment period and and then adjourn.

Um I did realize that uh I didn't put anything on about the calendar, any updated calendaring stuff.

Um, and I didn't put anything in the packet about that, but does anybody have any updated calendaring stuff about this committee that you should put on the agenda?

Great.

Seeing none um if somebody wants to move to approve to approve the uh agenda for 13 March 2026.

Okay, great.

We're all here.

Can we just everybody in favor of that?

Say hi.

Right closed.

Great.

So at this point, I'm gonna turn it over to Jeff and uh Justin and Tom, right?

Tim I'm gonna write that down right now, so I remember and uh take it away.

Terrific.

Well, I'd love to just set set the stage.

Um we have uh Justin and Tim from Reedy Financial Group who are our uh financial advisors at uh at the city, and they're um they're going to go over a couple of of things that I think are gonna be really interesting to everybody and very important to us going forward, including uh our debt position uh and local income tax, uh particularly with respect to the new uh lit system that's right now selected to go into effect in 2029 and um and property tax as well.

So uh very much I think everybody's gonna be very interested in uh what they have to say.

So uh are you are you going first, Justin?

Or well really few will be, but just to set the stage for what we're going to be talking about, we're Tim's gonna start out with kind of the citywide financials, whether what that'll look like going forward 2026 and 27 volumes expenditures, whether we're surplusing or deficiting, and then we're going to go into what are the ways we could improve the city's financial provisions.

Uh local local income tax, like Jeff mentioned earlier, is going to be a big part of that.

And we're going to build the House Enroll that 1210 into that discussion.

And then we're also going to look at other tools, including the debt and potentially part of some RDC um financing capacities that the city could use to improve the city's overall um financial situation.

All right, so I guess a little precursor or set the stage to use best one's time.

Um so we have for about a year now uh been developing the city's long-term operating capital three plan.

It's a five-year plan.

Uh it captures all of the funds that you budget in gateway.

Uh and we do revenue projections, expenditure projections, we have the restorable budgets, doable revenues, projections based on that, and we also incorporate any changes in legislation into your long-term plan.

Um having said that, Justin had mentioned the you know, I guess revenues and court burden use funding surplus deficit.

Uh right now on your long-term plan, you have basically for the next two years due to SEA one.

Um, and because of some innate choices in the budget, there's roughly a three million dollar deficit projected in your general fund.

Now, as Central F one ramps up, and depending on the choices that the council is for lack of better term, forced to make due to housing electrolyn and sea one.

Now, one of the other things that we've done in your long-term plan is that we've identified about seven and a half million dollars of capital outlays that the city historically has done on using rough estimates.

Um we actually have removed those capital outlays from your operating funds.

So on top of the nine million dollar potential operating deficit, we also have to figure out a way to fund if it's the city's choice to continue the seven and a half million dollar capital outways on average annually, a way to fund that essentially deficit as well.

So we're looking at roughly 16 and a half million dollars of potential deficit once Senate rule back one and house bill 1210 are fully ramped up, which is roughly 2032.

So how do we uh how do we mitigate that?

And what are our what are our options?

Uh and Jeff, if you want to pull up the house you will be packed or house rule at 1210 impact.

Is that one of the things that was in our it should have been the most recent document?

It's the lit document, right?

Yeah, it's the with a face between orders that we didn't have to have that in a different place.

Okay, how do I sent that out in the network?

Um well, I sent out an email last week for that because that was what um that uh posted yesterday after anybody had a well there it is.

Sorry, this this um may be a problem.