All right, good morning, everybody.

It is 8 15.

We'll go ahead and get our fiscal committee meeting here underway.

Um pretty short agenda, so hopefully we can move through these items at a reasonable pace here.

So item number one, we've got a resolution to authorize participation agreements uh with the Michigan Cooperative Liquid Assets Security Systems, also known as CLASS.

So moved.

And I'll support.

Um turn it over to Mr.

Globetsky.

Good morning, Commissioners.

Um, I think the 70-some page document attached tells it all.

No, just kidding.

It's rather in depth.

Um, this is a great up.

This is a great opportunity for us.

Umstanding uh approved uh local government investment pool from the state of Michigan, and we're now going to utilize that opportunity to place some of our liquid cash.

Uh the nice thing about that is our current uh US bank account is about a 3.5% rate of return.

This one's 3.8, and it's also ready money for us.

So as long as we send the information or file online by three o'clock any given day, we can have money drawn back into our accounts as we need it.

So it provides us with not only the safety and security of following public act 20 and our investment guidelines, but also gives us the opportunity to have a real easy dis way to go get that money.

Great, thank you.

Uh Commissioner, any questions?

Nothing.

I've got nothing either.

So I'll call the question.

All those in favor say aye.

Aye.

I'm an aye, so the motion will carry.

That brings us to item number two, uh, which is a resolution approving uh deficit elimination plan for the Michigan Indigenous Defense Commission Fund.

So moved.

And I'll support.

Good morning, welcome.

Good morning.

Um, I am Tricia Chapman with the Fiscal Services Department for those that that don't know me.

Um this is a resolution approving uh deficit elimination plan um for the Michigan indigent defense commission fund.

Um this fund is a little bit unique in that when there is a need, we are mandated to uh to to fill that need, whether or not we're at you know what point we're at with the grant.

Um the uh state of Michigan has us take what any overspending that happens because of that excess need enroll it into the next year's grant, which is which is what we did and what is part of the plan.

Um so this needs to be approved by Commission and filed with the state of Michigan.

Awesome, thanks.

Questions, comments?

All right, all those in favor say aye.

Aye.

I'm an aye.

The motion will carry.

Thank you.

Uh bringing us to it number three, we've got our bid list resolution uh for this week, February 10th, 2026.

Oh, so moved.

And support, I'll turn to uh RCFO.

Uh good morning, Commissioners.

We just have some routine items, including an aerial bucket, truck, um, HVAC, heat pump replacement, things of that nature.

So if you have any questions, myself or the departments are here to answer them.

Yes, thanks.

I wrote down that was on uh page 63 in the agenda packet, too.

If people have questions on anything specific, but hearing seeing no other questions, uh go ahead and call it.

All those in favor say aye.

Aye.

Any opposed, the motion carries.

All right, that brings us to item number four.

Uh, we've got a resolution approving Grand Rapids Community Media Center Public Education and Government, uh PEG grant, uh reimbursement requests, and that's in the amount of 207, uh 623.98 cents.

Okay.

So uh is there a motion?

So moved.

Support.

Go ahead.

Um so uh, you know, this is some this is uh reimbursement that occurs a couple of times a year, and it's part of the PEG grants that um we receive through franchise fees.

Uh because it's February.

Um I thought we would take an opportunity here for uh Ted Dietrich from the community media center just to give it a little overview of what it is that they do as a partner.

Um and then we'll be available to answer any questions.

That'd be great.

Thanks.

Morning.

Good morning.

Yeah, I'm Ted Ted Diedrich.

Uh, thank you, Doug.

Um, and we're always happy to come and tell you about a little bit of what we're doing.

Um get to see a couple of you times a year at our station.

But uh thank you again.

So um since you've already kind of got a detailed report of the actual investment with you, uh, we're just gonna talk about what GRTV does.

Um at our core, so GRTV is two public access television stations.

Um we operate GRTV, which is the true public access station where anyone can turn any programming in.

And we also operate LiveWire, which is an education and community affairs channel.

A lot of government and nonprofit uh videos and productions end up uh airing.

Residents can watch GRTV on cable access.

So if they have Comcast, it shows up on channel 24 and 25 on any basic cable uh package that you would get.

But we also have a app, GRTV Access.

You can access that on uh Roku, Fire TV, and on Android devices or through our website.

We're always streaming on our website as well there.

Um we have a few core services that we provide.

So I guess I'll just talk about the programming there.

So we had in last year we had 1,400 new community programs that aired on our channel.

So those are all programs that were made here locally or requested to air here locally.

So when you tune into GRTV, everything you see is reflecting the Grand Rapids community.

Uh that was made from 165 different producers and resulted in over 950 hours of local programming.

Uh we have classes that we teach as part of our education workforce development.

Um so those educational offerings are in video production, podcasting, and audio production.

Uh we have a media preservation training that we added this last year where people can learn how to digitize their uh old VHS, uh mini DV tapes, uh kind of archive their old stuff.

We have youth workshops, school-based programs, um, and our media maker summer camp that we do.

Um and then we in 2025 uh we had 64 certification classes that we're able to teach in those particular subjects.

That was a for 202 people that we taught in those areas.

Uh our summer camp, we had 38 high school students come in.

Uh part of that camp is that we actually pay them to come in so that if they don't, if they would normally have to work a summer job, they don't no longer have to have to make that choice between working a job or kind of learning these creative and productive skills uh to move forward.

And then in our workshops um and kind of parti uh you know bringing students in uh for a very variety of skill working, we had over 400 students do that.

Uh when it comes to community equipment and facilities access, um, you know, we have a lot of once they people have taken our classes.

If they're a member, they get access to a whole suite of equipment for free.

So we have studios, edit suites, um, lots of checkout equipment, cameras, light kits, microphones, um, just about anything podcast kits, anything that you might need.

Um so last year we had a huge boost, uh, about a 50% increase in our edit suite reservations.

I think with the tariffs coming in, there's been some expense.

A lot of the equipment to do editing has been really expensive for people, and so they've appreciated using the our edit suites for those reasons.

Uh 213 studio reservations, also an increase over 2024, and 170 camera checkouts for people checking out our equipment over the weekends or or during the week to make their productions.

Uh we also do a lot of nonprofit and government support through our work.

So we do video production services at a reduced cost for nonprofit organizations and for the government uh that hire us.

Uh, we do web design through the community media center to support nonprofits, as well as just covering city meetings and that sort of thing.

So we had 127 government meetings that aired on our channels last year, able to share those that work um with the community.

Uh we had 34 nonprofit video productions we did for 19 different clients.

Uh we did uh we relaunched and rebuilt the Rapidian website, uh, so it's much faster, much easier to access, and covers uh everything that's hyper-local on there.

Um that includes the work that our documenters are doing.

So you'll see them showing up at community meetings, documenting what's happening and sharing those um in on the on the Rapidian and covering over 100 public meetings last year.

And we also manage nonprofit websites and develop those.

So we manage 43 live nonprofit sites for 39 different uh clients in the area last year.

So overall of the value that uh we get out of the community media center and this investment are just boosting local voices, providing that community access to these kinds of tools and equipment, providing media literacy education, transparency and civic participation, and then the responsible stewardship of this is the public investment that you're you're making in us.

So thank you very much for your partnership.

Uh if there's any questions, let me know.

Great.

Thanks so much.

It's always uh good to hear an update from you all.

I know I've I've enjoyed coming out the times that I've been able to to take part in the interviews and do some live QA with with residents.

So um it's just a cool way for us to be able to connect with them.

Um so I don't have any any specific questions.

I don't know, Commissioner, if there's any thoughts or comments you've got.

Yes, yes, just to thank you all for the work you're doing.

I think I have one coming in the summer.

Yes.

I'll be on with you all.

And uh really think it's important to support local journalism.

Um I think there's been some very important conversations that uh the more bigger studios haven't uh you know, mainstream media hasn't covered that you all have.

So I really appreciate your work.

Thank you very much.

Thanks.

Yeah.

Let me go ahead.

Also, it's election year, so I'm sure we'll be filming some truth-filled election videos.

Yes, yeah, we have uh a number of uh videos planned through the Rapidian.

Uh we do also we're looking at doing uh a debate for commissioner seats um in October, I believe.

Um but we'll we'll be doing lots of voter education, voter guides.

I'm sure you'll be get hearing from us, Joel.

That's right.

But that but that's a good that's a good way to um we need to start pushing people towards that through our social medias too, that of different ways of of cutting through some information to these other sources.

Absolutely.

Yep, that's a great point.

Thank you.

All right.

Well, thanks again.

We it uh it's always good to see you.

So now we need to vote on our uh resolution.

So I will call the question.

All those in favor say aye.

Aye.

I'm also not I excuse me.

The motion carries.

Uh brings us to our last two items.

Number five, we've got our uh comp trollers warrant report for the period of January 13th, 2026 through January uh 26, 2026, and that's an amount of 27,433,945.76 cents.

And I'll turn it over to Mr.

Max Franks.

Uh good morning, Commissioners.

So just one report here uh this morning, and for the warrant report, uh cash payments were released totaling uh approximately 27.4 million dollars, and that amount includes approximately six point eight million dollars for employee payroll expense and just over three hundred and thirty-nine uh thousand dollars for income tax warrants in terms of quantity, 260 income tax refunds were issued and 1,171 uh checks and electronic payments uh were issued.

These funds were issued for payment by individuals not in the city compontroller's office and not in accordance uh with the terms of the city charter.

The details of the payments are uh all contained on the uh tables in the following pages.

Great, thanks.

We'll go ahead and receive uh and file that one.

And then lastly, we've just got our treasurer's report for the period of January 14, 2026 through January 27th, uh 2026.

Good morning, commissioners.

Uh since our last meeting, we did have an announcement that um uh Kevin Warsh has been nominated to be the new Fed chair, so we're waiting to see how that uh processes through and whether he is uh approved for that and becomes our new Fed chair.

Really, when we look at the um overall economy, the economic environment can be characterized as is stable.

Um but it's also very sensitive to any policy direction, inflation trends, or broader financial conditions.

We're not expecting any rate changes at the present time.

Um most of the market participants are looking at possible rate changes coming later in the year if that happens.

But again, the Fed is gonna still be very data-driven.

They have to see um changes in the economy before they're gonna start making moves.

Um that is really where we sit right now, is kind of in a nice wait and see kind of position, which is is nice.

Um but the again, any type of financial shock could could lead to other activities.

Um right now our portfolio sits at 722 million dollars and we're earning 3.3%.

Okay, great.

Um, off the top of your head, if the new Fed chair does take um that seat, do you know like what the timing of that could is it just dependent on when it's approved or is there like a certain term?

I believe it's in in May.

May is when Chair Powell would would no longer be the Fed chair.

Yeah, I would imagine right immediately following he would be then uh sure sworn and appointed and put in in place.

Okay.

Um there's also some uh concerns whether or not the current Fed chair poll stays around after that.

Um but again that that those are other decisions other people make and it and it's not of a major concern.

Certainly, yep.

Yep, just curious.

Uh Commissioner, any questions or comments?

All righty.

We'll go ahead and receive and file that, uh, which will then conclude our scheduled business for this meeting, and we'll go ahead and adjourn at 8 28.