OPENPUBLICA · PUBLIC MEETING RECORD
Record of Proceedings

Grand Rapids Fiscal Committee Meeting - July 21, 2026

Meeting PortalTuesday, July 21, 2026
BodyGrand Rapids, Michigan
SessionMeeting Portal
DateTuesday, July 21, 2026
StatusNEW · FILED
Video Record

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Transcript — Verbatim
0:01

Good morning.

0:02

The time is now 8 30, and we can go ahead and call our fiscal committee meeting to order.

0:07

Oh, and I was just gonna ask.

0:09

There you are, Mr.

0:10

Compshouler.

0:10

So good morning, everybody.

0:12

Um, we have a full full seats today.

0:15

So I said I was gonna make everybody get up and walk because or get up and dance because of the World Cup and Shakira's hit single.

0:23

But uh Commissioner Kilgore said, can we wait till later today?

0:26

So it is nice to see everyone.

0:31

We've had a little break, and so we're trying to bring some levity to the meeting.

0:35

There's been a lot going on, and we have a lot.

0:37

We have 17 items today, so let's go ahead and get started.

0:40

First is a resolution to amend the city's investment policy statement for retiree health care defined benefit plans.

0:46

Can I have a motion?

0:47

So moved?

0:47

Support.

0:48

Moved and supported, Mr.

0:49

Bowl.

0:50

Good morning, madam chair and commissioners.

0:53

Um the the city recently retained a new uh investment advisor for management of uh trust funds for defined benefit uh retiree health care plans.

1:04

That uh investment advisor uh recommended some relatively minor changes to our existing investment policy, and that is what is before you today.

1:13

Um I wouldn't classify any of the changes being made as you know particularly major or substantial.

1:21

A lot of it is trimming around the edges and uh clarifying uh some verbiage here and there.

1:27

But I'm uh certainly welling willing to uh answer any questions you may have.

1:32

Great, thank you, Mr.

1:33

Bolt.

1:33

Any questions, colleagues?

1:35

Um, I would agree with the sentiments of that of that statement.

1:38

Um I would say that's pretty typical when you move to a new provider, they might have some changes and things that they would see.

1:46

Questions?

1:47

Hearing and seeing none.

1:48

All those in favor?

1:49

Aye.

1:50

Any opposed?

1:51

The resolution carries.

1:52

Thank you.

1:53

Item number two is a resolution to repeal authorization to buy or sell securities with certain broker dealer firms.

1:59

Do you have a motion?

2:00

So moved.

2:01

Support.

2:02

Are you gonna take this one as well for them for the treasurer?

2:05

Such a delegate leader.

2:07

I'm sorry, yes.

2:08

I not only am I delegating delegating a little bit here, but Mr.

2:12

Bolt actually brought this forward to us and said, you know, as he as he looks at the different broker dealers that we have and the structure we have, the context that he has in the industry and what he's done.

2:21

Some people will come forward and say, hey, what do you think about us being part of your bidding process?

2:26

And so he will vet those those various uh groups, but also at the same time, my challenge to Mr.

2:32

Bolt is are the ones that aren't bidding on our work, should we be able to take those off?

2:36

And so for the next two items, this is Mr.

2:38

Bolt's world then and he does an excellent job with the I know you believe in uh a good delegation and leadership, so you're showing your your commitment, Mr.

2:45

Treasurer.

2:46

Well, it's also good to have a new face coming up and being a part of the process.

2:50

So we'll turn it back over to you, Mr.

2:52

Bolt.

2:53

Certainly one of the motion, I'm sorry, did I get a motion for that one?

2:55

Yeah, we took care of that.

2:56

Okay, thank you.

2:57

Sorry.

2:57

Uh one of the major tasks of our office is uh uh both initial as well as ongoing due diligence on uh the financial counterparties that we use, including broker dealer firms.

3:07

Um conducting that due diligence does incur a cost, and quite frankly, if uh broker dealers aren't work aren't interested in doing business with us, um that's a wasted cost.

3:20

Uh that is ultimately why we're bringing forward the resolution to uh remove two um from the uh the stable of broker dealers we work with.

3:30

Thank you for that overview.

3:31

And just sounds like some good governance and reviewing pieces.

3:35

Colleagues questions here hearing and seeing none.

3:39

All those in favor?

3:39

Aye.

3:40

Any opposed?

3:41

Resolution carries, thank you.

3:43

And then item number three is a resolution to authorize the city treasurer to do business with Breen Capital LLC as a broker dealer.

3:50

Do you have a motion?

3:51

So moved.

3:51

Support.

3:52

Moved and supported.

3:53

Last one.

3:54

And this is our initial uh due diligence step.

3:57

Uh we were contacted by a representative from Breen Capital, uh, interested in doing business with the city.

4:03

Um Breen is a respected uh broker dealer firm.

4:06

Um our due diligence uh didn't reveal any uh glaring red flags uh that would prevent us uh from being able to do business with them.

4:15

It is in the city's best interest to have uh a you know healthy number of broker dealers uh offering securities, you know, as with any market, the the more competitive the offers uh you receive, the better likelihood is that you're getting a good deal.

4:31

Um that is why we're recommending uh authorization for uh our office to do business with Breen.

4:38

Thank you for highlighting kind of all the details, how these all fit together and the strategy.

4:43

So with that, I will um call the question.

4:45

All those in favor?

4:46

Aye.

4:46

Aye.

4:47

Any opposed?

4:48

The resolution carries.

4:49

Thank you so much.

4:50

Um item number four, and I see Mr.

4:52

Gourney was already on deck, so you get a gold star today.

4:55

Um, a resolution to accept a grant award of 335,000 from the Weggy Foundation in support of a city composting initiative.

5:02

Do you have a motion?

5:03

So moved.

5:03

Support.

5:04

Moved and supported.

5:05

Good morning.

5:06

Good morning.

5:06

Thank you.

5:07

As mentioned, this is a $335,000 grant award from the Weggy Foundation, specifically for the purchase of a wood grinder in support of the city's compost operations.

5:18

In addition to the food waste or the renew grand rapids, this will also support the compost operations in general.

5:25

So both the public works department and the parks department have committed funds towards the purchase.

5:31

Overall purchase is $975,000.

5:34

So with that, take any questions you have.

5:37

Great.

5:42

And colleagues, any comments you want to make about this item, Commissioner?

5:46

Um briefly, uh, to be technical.

5:49

When we're purchasing an item that large, what how was the volume?

5:54

Was the size?

5:55

How give us give us some parameters?

5:57

Large.

5:58

I would say almost the size of this room.

6:00

Okay.

6:01

It's a large piece of equipment.

6:03

And um both departments uh, as mentioned, are supporting with funds, but both departments will also realize some savings because we contract that work out currently.

6:12

So this is like for all the tree work and all the other things.

6:14

It's more you said wood grinding.

6:16

We're gonna handle all the wood waste coming into the facility now.

6:18

Right.

6:19

Okay, thank you for the um technical details.

6:23

All those in favor?

6:25

Aye.

6:25

Aye.

6:25

Any opposed?

6:26

Resolution carries.

6:27

Thanks, Mr.

6:28

Gourney.

6:28

Um item number five is a resolution authorizing a contract with experienced Grand Rapids in the amount of 150,000 for fiscal year 2027.

6:35

Do you have a motion?

6:37

So moved.

6:37

Support.

6:38

Moved and supported.

6:39

I don't see Mr.

6:39

Kane.

6:40

Uh Ms.

6:40

Claren or sure, I can pinch it on this one.

6:44

This is just the annual agreement we do with Experienced Grand Rapids.

6:47

It's for a hundred and um fifty thousand dollars, which was already appropriated in our uh fiscal year twenty-seven budget.

6:54

And here comes Mr.

6:54

Kane.

6:55

Do you want to add anything, sir?

6:56

Coming in.

6:57

No, ma'am.

6:57

You did a good job.

6:58

I just came here to tag along with you.

7:03

You guys are just making the day come back really fun.

7:06

So, yes, you said this was a standard item.

7:08

Yeah, standard item.

7:09

I'm sorry, ma'am.

7:10

Thank you, Molly.

7:10

Uh, so uh this is experienced yarn uh they are um uh an organization that helps promote Grand Rapids in general, uh trying to invite people to Grand Rapids to enjoy our many amenities here.

7:21

So this is uh uh uh our contribution to uh helping them do their work, and um we look forward to continuing to partner with them.

7:29

We uh also in the contract charge them with um also promoting you know diversity and its vendors, um promoting local MLBEs, things like that as well.

7:38

So I'll note that for the commission.

7:40

Yes, and we also uh city manager serves on their board as well, so we have a vote in their work as well.

7:47

So I think that's important to note as well.

7:49

Colleagues, questions on this um renewing item.

7:53

May I um just out of um clarity for the public?

7:57

Is this is this something that that becomes part of their general line item or is it designated funds for specific uses?

8:03

Uh it's actually two.

8:05

So I built I believe 50,000 is for uh what Ms.

8:08

Claren mentioned, and 100,000 dollars is like our general support that we've done for a number of years.

8:13

I want to say three years ago, maybe even four years ago, we added the 50,000 um for the other piece.

8:18

All right, thank you.

8:19

Yes, ma'am.

8:20

Thank you.

8:21

Um hearing and saying no other questions.

8:22

All those in favor, aye.

8:24

Any opposed?

8:25

Resolution carries, thank you.

8:26

Thank you.

8:27

I'll have a nice morning.

8:28

Yes, thank you.

8:29

Uh next up is a resolution authorizing Grand Rapids Police Department recruit recruit class, 26 uh 05 to attend Grand Valley State University for a cost up to 102,235,000 dollars.

8:43

I'm sorry, 235 dollars.

8:45

Do you have a motion?

8:46

Support moved and supported.

8:48

Mr.

8:48

Rebel, good to see you.

8:49

Good to see you.

8:50

Thank you, Commissioners.

8:50

This is our first of two budgeted recruit classes for fiscal year 27.

8:55

Uh they'll be attending Grand Valley State University up to 10 recruits.

8:58

Uh go August through December.

9:00

Just a reminder of the process, it's 17 weeks at the academy, then eight weeks mandatory in-house training, our own sort of mini academy at GRPD, and then at least 16 weeks with a training officer before they're on solo patrol.

9:13

Uh, this would allow us to send up to 10.

9:16

And then just as a staffing update, our budgeted strength for FY27 is 312.

9:22

We had two retirements earlier this month, so we sit at 302.

9:26

And I hope by spring with a few more retirements and then adding these recruits, we'd be up around 308-309.

9:33

You said by the end of this after at the end of their training.

9:36

Yes, ma'am.

9:36

30839.

9:38

Okay.

9:39

Colleagues questions.

9:42

Again, this was a budgeted um item.

9:44

Yes, ma'am.

9:45

Um thank you for um sharing the information about where the um the total number stands as well.

9:52

All right.

9:53

Hearing and seeing no their questions.

9:54

All those in favor?

9:55

Aye.

9:56

Any opposed?

9:57

Resolution carries.

9:58

Thanks so much, Matt.

10:00

Um, item number seven is a resolution approving payment to Kent County Treasurer for oblique aerial imagery imagery in the amount of ten thousand six hundred three dollars and ninety-seven cents.

10:09

So moved?

10:10

Support.

10:11

Moved and supported.

10:12

Um I'll cover this one.

10:13

Our our uh acting assessor Lindsay Post is pulling double duty downstairs, so I can handle this one.

10:19

Thank you.

10:20

Uh we but we bring this we through every time we renew the contract.

10:23

Um it's just like I said, aerial um imagery that the assessor's office uses.

10:28

Um this was approved, approved use in uh 2006 by the Michigan State Cash uh tax words are hard today.

10:37

The BA is gonna be interesting.

10:38

Uh the state tax commission.

10:41

Um with that it gives them uh efficient way instead of having to visit each property, they have this aerial imagery to get the outlines of of uh you know what's going on on the property, things like that.

10:52

So uh if there are any questions.

10:54

Yep.

10:55

Thank you so much.

10:56

Um hearing and seeing no questions, all those in favor?

10:59

Aye.

11:00

Any opposed?

11:01

Resolution carries.

11:02

Next up is item number eight, which is a resolution approving Grand Rapids Public Schools, K-12 Education Television Authority, uh KETA for their grant reimbursement of 24,953 and 38 cents.

11:16

So moved.

11:17

Support.

11:18

Uh, this is just related to oh, there's sorry, David.

11:23

By all means right now.

11:24

Sorry, I thought I was covering.

11:25

Go ahead.

11:26

I'm very sneaky today.

11:27

Um, uh commissioners, this is just a as one of our standard reimbursements for uh for our peg and uh franchise fees that come in.

11:34

So uh the school district uh purchases equipment and then they send us a um a receipt.

11:39

We look at it, we verify that those are uh valid authorized expenditures and then we reimburse them.

11:44

Great, thank you so much.

11:46

Um all those in favor?

11:48

Aye.

11:48

Any opposed?

11:49

Um the item carries.

11:51

Thanks.

11:51

Item number nine is a resolution authorizing capital improvement bonds and an amount not to exceed uh 54 45 million dollars for 1500 Scribner Avenue Northwest and the fire training center.

12:01

So moved.

12:02

Support moved and supported, Ms.

12:04

Claren.

12:04

So on the path to issue debt, there's a couple steps we have to go through.

12:08

Um, one of them is issuing the noise of attempt, which we have done for both of these uses, satisfied those requirements, and now in order to before we can go into the market, we have this bond authorizing resolution.

12:20

Um this is for issuing debt on behalf of the fire training center campus as well as the remainer remaining remaining gap for our scribbiner public public services facility.

12:33

Uh we plan on going into the market in August.

12:36

I'm talking to rating agencies actually this week.

12:39

Uh, myself or our um counsel from Dickinson Wright, Eric McLovan is here if you do have any questions.

12:46

Great, thank you so much.

12:48

Colleagues questions on this item.

12:51

Hearing and seeing none.

12:52

All those in favor?

12:53

Aye.

12:53

Any opposed?

12:54

Item carries.

12:56

Item number 10 is a resolution authorizing a budget substitution for 240,750 for park capital projects.

13:04

So moved.

13:05

Support.

13:05

Ms.

13:05

Claypool.

13:06

Uh good morning.

13:07

Good morning.

13:08

Uh Laura from the parks department, just here with the budget substitution.

13:12

Uh this is just necessitated by some changes in project timeline, some cost escalations, and some additions of some scope.

13:19

So uh we will be allocating $55,000 towards bike park.

13:23

That's to bring us up to the match for the MD and R trust fund grant.

13:27

We have $140,750 towards Lincoln Park, which completes the funding stack for that for a completely renovated park, including parking lot, restrooms, splash pad, and other amenities.

13:39

Uh additional $35,000 towards the park's master plan, which you will be seeing uh later this year, early 2027, and then additional funding towards us a park signage uh project where we're reimagining um some of our park signs.

13:54

Thank you so much for that overview and update.

13:56

Um colleagues questions on this item.

14:00

Uh may I I just want to say thank you for bringing the substitution and just highlighting all the ways that the money is being spent to preserve our green spaces and improve them.

14:09

Lincoln Park of of course is real near my home, so happy to see that.

14:12

And you know, learning more about what's being invested in bike park is great.

14:18

Thank you.

14:19

Um yeah, I drove by today by my regular route.

14:22

Uh on Monroe and Canal is you're starting to see all the things be all the things.

14:28

Um so I think when we hear the schedules, it feels like a lot, but the time goes fast, and I know people are working hard and safely, um, especially in this kind of weather.

14:38

So all those in favor?

14:39

Aye.

14:40

Any opposed?

14:41

The item carries.

14:42

Thanks so much.

14:42

Thank you.

14:43

Item number 11 is a resolution authorizing a budget substitution for Orchard Vista and Alpine Estate Lift Stations project in the com in the combined amount of 908,185 dollars.

14:55

So moved.

14:55

Support.

14:56

Mr.

14:56

Outz.

14:57

Good morning, commissioners.

15:00

With a thorough assessment and design work for Orchard Vista and Alpine Estates.

15:05

Uh it revealed uh some project scope.

15:09

Crete.

15:10

And uh this will ensure that we're able to um complete the the work to the stations to replace the outdated pumps and relocate the electrical equipment for for safety.

15:22

Uh it will utilize the funds from the sewer replacement fund for the uh the infrastructure investment project.

15:32

Okay, great.

15:33

Thank you so much for that overview.

15:35

Colleagues questions on this one.

15:38

Hearing and seeing none.

15:39

All those in favor?

15:40

Aye.

15:40

Any opposed?

15:41

Item carries.

15:42

Thanks so much.

15:43

And then you get this next one too.

15:45

Resolution adopting the Grand Valley Regional Biosolids Authority for fiscal year 27 operations and the maintenance budget.

15:52

So move any support.

15:56

Can I get a so move to it's been moved and supported?

15:59

Change.

16:00

Yeah, this is uh a request for the adoption of the G V RBA FY27 uh budget for the the operation and maintenance and uh associated upcoming resource recovery projects.

16:13

Great.

16:14

Um all those in favor?

16:16

Aye.

16:17

Any opposed item carries.

16:19

Thanks so much.

16:20

Thank you.

16:20

Um next is a series ordinance.

16:22

Um item number 13 is a series ordinance for water supply system improvement junior lien revenue bonds in an amount not to exceed 21.5 million.

16:32

Um five.

16:34

I'm sorry, see look at thank you so much.

16:36

So moved support.

16:37

Moved and supported, Mr.

16:38

Verbucci.

16:39

How are you doing?

16:40

I'm doing well.

16:41

Good morning.

16:41

Um the item before you is a series ordinance, which if adopted would authorize the water department to issue up to 21.05 million dollars worth of junior lien revenue bonds through the state's drinking water revolving fund.

16:55

The proceeds from that bond issuance would then be used to fund a variety of water infrastructure projects, nine million of which would go towards lead line replacements, and the balance would go to replacing aged water mains throughout the city.

17:08

Um the bond would be serviced using revenue collected via water rates, so it does not represent a general obligation on behalf of the city.

17:16

Um the plan is to issue the bonds with a 20-year maturity at a two and a half percent interest rate, which is well below market rate.

17:24

Um, and we have been awarded up to 5.39 million dollars worth of principal forgiveness.

17:30

So the state would forgive up to a quarter of the entire bond.

17:34

Um and we did issue a notice of intent back in May, and in the intervening time, we have not received any comments or petitions from the public.

17:44

Great.

17:45

Thank you for that overview.

17:47

Colleagues, questions on this item?

17:50

Okay.

17:51

All those in favor?

17:52

Aye.

17:53

Any opposed?

17:54

Item carries.

17:54

Thanks so much.

17:55

Item number 14 is an ordinance amending section one of the budget ordinance um for uh 2026-11 for fiscal year 2027, amendment number one.

18:05

Do you have a motion?

18:06

So moved.

18:07

Support.

18:07

Miss Claren.

18:09

Okay.

18:09

Uh this morning we have we have a few.

18:12

Um, we'll start out with the city commission enhanced support.

18:15

I'll highlight this one particularly because it ties to the budget conversations and a few conversations commissioners had since then.

18:22

This is for the addition of an administrative aid.

18:26

Uh, you'll see the appropriation amount is for um 60,000.

18:32

So that is, you know, basically using some of that 100,000.

18:36

The commission appropriated at budget adoption as well as the additional sixty thousand would cover this position through the rest of the year.

18:44

Um, that's an addition to the general fund.

18:46

Uh in the um city commission budget.

18:49

Uh, next we and I'll there's quite a few, so I'll I'll be brief.

18:53

I just wanted to make sure I highlighted that one.

18:55

Um 61st district court, we have the domestic violence specialty court grant, environmental services, um uh as discussed, uh, GVRBA Grand Rapids Regional Biosolids Authority.

19:06

Um, this is appropriating their budget.

19:09

Ideally, we would have done done this at the same time of um when we adopted all the other authority budgets, but um it we're doing it, you know, today we'll make sure we we capture it next year.

19:21

Uh number four, the police department homeland security grant program for a 3D laser scanner, uh parks and rec.

19:28

We have um you know a trail work, the greenways coalition um over at the Leonard to Ann Street Trail Project.

19:36

Uh we also have the Michigan Natural Resources Trust Fund grant for improvements at Bike Park, uh Sullivan Field Improvements, and um again that's that's another parks capital fund uh budget amendment.

19:50

Our contingent balance for this year is 1.5 billion, which we have not had to dip into yet, which is good.

19:56

So if there are any questions, myself or the departments are here to answer.

20:01

Thank you for that overview, and thank you for going step by step.

20:04

You know, this is um it's been a minute since we've been here together.

20:08

So thank you for that update.

20:10

Colleague uh colleagues, questions on this item.

20:14

Hearing and seeing none, all those in favor?

20:16

Aye.

20:17

Any opposed?

20:18

Item carries item number.

20:20

Yes, I think Commissioner Belchak had a comment.

20:22

Oh, I it's okay.

20:23

I I thank you.

20:25

Uh I don't change anything.

20:26

I want to what I was uh gonna vote for anyway, but I just wanted to comment like I that I think that all of these items were incredibly important, as with all of the agenda today, but um, it's good to be able to review and and see um the impacts of where we're putting our money.

20:42

And I uh if I may absolutely thank you.

20:45

Um can you tell me more about this 3D laser?

20:48

That sounds pretty fun and cool.

20:50

Sure.

20:50

Um Matthew Weibel, he is uh the chief of staff at the police department.

20:55

I think he can tell you this 3D scanner.

20:58

Yes, so this is something our forensics unit has been asking for for quite a while, but it's expensive, so we haven't budgeted for it.

21:04

So we're excited to have federal grant funds to purchase it.

21:07

Um it's listed as 2024 because they're a little bit behind in dispersing the funds, but it comes to us through Michigan State Police, and it will be for crime scene documentation.

21:16

So you have you can take regular photographs, we can occasionally use our drone to document a crime scene.

21:21

This will be a laser scanner set up in the middle of the room.

21:24

It can go all around, measure everything, distances between shell casings and get a really like a 3D picture of how the crime scene actually looks, which will be tremendously beneficial when we're in court.

21:36

Yeah, thank you.

21:38

Thank you.

21:38

Well, you officially get the coolest thing today.

21:41

Right.

21:41

It's not a competition, but that is pretty cool.

21:44

Thank you for more info.

21:46

Yes, sir.

21:46

Thank you.

21:47

And my apologies, colleagues.

21:48

I oh that's all right.

21:50

Jumped that one.

21:50

All right, thank you.

21:51

Thanks, Matt.

21:52

Um, okay, item number 15.

21:55

We have a motion.

21:57

Um right, or or okay.

21:59

No, that's 14.

22:00

But 15, I need a motion.

22:02

So the bid list resolution for July 2020, 21, 2026.

22:06

All right.

22:06

So moved.

22:07

Support.

22:08

Okay, thank you all.

22:09

Sorry, just wanted to get back on track.

22:10

Uh Ms.

22:11

Claren, anyone's that's a good idea.

22:12

Uh I'll fairly routine.

22:14

I'll highlight number 11 for the bulk road salt.

22:17

Uh winter is coming.

22:18

That I always I'm in there.

22:20

I always love to talk about that in July.

22:22

So yeah.

22:24

Yes, we are always prepared.

22:26

We're always working, even though it's 90, whatever degrees out, we're thinking about snow.

22:32

All right.

22:32

All those in favor?

22:33

Aye.

22:33

Aye.

22:34

Any opposed?

22:35

Item carries.

22:36

Item number sixteen, so that's the end of our resolution.

22:38

But item number sixteen is the Comptroller's Warrant Report for the period of June 2nd, 2026 through June 30th, 2026, in the amount of 75 million 304, 785 nine cents.

22:51

And monthly travel and small claims report.

22:53

Mr.

22:54

Comptroller.

22:55

Good morning, commissioners.

22:56

Uh, so we have a few reports here uh this morning.

22:59

The first one, the warren report, uh, shows that cash payments were released totaling approximately 75.3 million dollars.

23:06

That amount includes just over 18.4 million dollars for employee payroll uh related payments and just under two and a half million dollars for income tax uh warrant payments in terms of quantity, uh 10,000 and six income tax refunds were issued in 2092 checks uh and electronic payments uh were issued.

23:26

Uh as stated in the memo, these funds were issued for payment by individuals, uh not in the city comproller's office and not in accordance uh with the terms uh of the city charter.

23:36

Uh the other reports that we have here uh this morning are the uh monthly travel report, which details uh travel spend by department uh for the first 11 months uh of the fiscal year, and that report is showing in total uh that just over about 1.8 million dollars or about 81% of uh approximately 2.3 million dollar uh budget uh has been spent.

23:59

And then the uh third report we have here is the second calendar quarter uh small claims report detailing small claims uh paid by the city uh during that calendar quarter that is showing a total of 26 claims paid, totaling uh just under uh sixty-eight thousand dollars, and uh those are the three reports we have.

24:19

Um, and just briefly, uh just wanted to mention real quick um and welcome.

24:23

We have uh Summer Harris here.

24:25

She just joined the city of Grand Rapids uh as an internal auditor.

24:28

She's here next to our deputy comp troller.

24:30

So uh just want to give her uh a warm welcome, and uh that concludes uh the reports that we had this morning.

24:37

Thank you.

24:38

That report is received and filed.

24:40

Welcome.

24:41

Um look at you all are matching today.

24:44

For the audience that can't see the matching.

24:47

Um received and filed, and then I just wanted to turn to our city clerk for a second.

24:54

On this agenda that you all are seeing online, it says 18 for the for the parks capital projects, but we already voted on that.

25:02

Yeah, do you want to just I don't want people to think we're correct doing anything?

25:06

So the there was okay.

25:09

You're in yeah, the um the original item had a different um dollar amount, and so we that got fixed.

25:16

But so in order to usually we hide the first item and so it just it's just showing up here.

25:21

So what we'll go to consent is this one that you already voted on.

25:24

This one, the 240,000, or is it the 245, correct?

25:29

Yeah, the 245.

25:30

We but what I we voted on 240.

25:34

Okay, so let's let's do it again.

25:35

You don't have to come up, Miss Claypool.

25:37

This is fine.

25:38

Yeah, this is an administrative change, colleagues.

25:40

So something got switched around.

25:41

So so we won't yeah.

25:43

So if we can just take a motion and vote on this one, yes, and then we won't move the other one forward.

25:48

Yes, I read item number 10, which had the 240, but item number 18 with the 245, yes, and obviously a good amount of change is what we need to vote on.

25:57

So I'm gonna call that resolution authorizing a budget substitution for 245,750 for the park capital uh projects.

26:06

So moved support, moved and supported.

26:09

And all those in favor, aye, aye, any opposed, item carry.

26:13

So thank you so much, colleagues, and thank you, Mr.

26:15

Clerk.

26:15

So we'll make sure that we clear that up.

26:16

For consent, it'll be this item that will be on.

26:18

Yes.

26:19

Uh point point of clarification.

26:20

Do we need to vote to undo the other number to re rescind it?

26:28

This one kind of supersedes it.

26:32

Okay.

26:32

Thank you for it.

26:33

Yeah.

26:33

Thank you for the clarity.

26:34

And the clerk who's in charge of the minutes will make sure all that's reflected, right?

26:38

Yep.

26:38

Since he's in he's in charge of that too.

26:40

So thank you all for getting us together.

26:42

And I we always end with the treasurer, and so I didn't want us to be trying to figure this out before um we had this project.

26:49

So, item number 17, and our final item today is the treasurer's report for the period of June 3rd, 2026 through July 7, 2026.

26:58

Mr.

26:58

Treasurer.

26:59

Good morning, commissioners.

27:00

And you know, I I sit in my office and practice this like it's an award ceremony, so they don't have the music to play me out to walk me off the stage.

27:08

Um I could, I could.

27:11

So with uh with our report today, there's there's a lot that happens.

27:14

So when you're when you have a gap this big, a lot of different things change.

27:18

So as this report was written a number of um number of weeks ago, our consumer price index for May was 4.2 percent.

27:26

We now have had uh June has come out and it's now 3.5%.

27:30

So there's been some uh significant changes right now, but not significant enough to warrant any concern about the economy.

27:37

Uh really we're still trying to figure out um where our new Fed chair Warsh is is going because really it's um less communicative of where the Fed is gonna be moving right now.

27:50

So right it's it's kind of a getting to know your period of time, you know, with with a new Fed and where the direction's gonna go and where the economy is.

27:58

We've seen the ups and downs in oil and geopolitical events.

28:03

You know, it was it was kind of shocking for me to see gas go up to four dollars and twenty-one cents when it was down to three eighty.

28:09

Um, you know, and so you even I find that a surprise sometimes when I'm going to the pump wondering why certain things happen because you see oil prices might move anywhere from five to ten dollars a barrel up uh for a couple days, then it gradually comes down, and and vice versa.

28:25

So there's a lot of still uncertainty out there.

28:27

Um, but we as a city are very stable.

28:30

When I look at our numbers, we have uh six hundred and fifty-five million dollars in our investment portfolio in bomb proceeds, earning over three and a third percent.

28:39

Um right now we're in the throes of property tax season, and so you know, I walk in this morning and I'm seeing three and a half tubs of mail all related to payments, water payments, as well as all the property tax money coming in.

28:53

So we're really looking forward to um a very busy next two weeks as we're the bulk of our property tax money comes in.

29:01

Um we will easily receive over 150 million dollars in the next two weeks just from property taxes.

29:07

Um our community uh we're very blessed in Grand Rapids.

29:11

Our community really looks after their properties, pays their taxes, pays it timely.

29:17

Um we consistently at the end of tax season go to the county with only less than two percent unpaid, so that really speaks volumes for our community and and to have the our our folks that reach out to us and ask questions and question bills and to be able to walk people through that process is really our main focus over these next two weeks.

29:37

Um but right now that that is where we stand uh in terms of the treasurer's office and my treasure's report is we're looking at the flow of money into the city and then dispersing it to the various local authorities that we've collected for.

29:49

So that is that concludes my report for this week.

29:52

Thank you for that report.

29:53

Always good to have the macro and micro.

29:55

I too was surprised by that increase.

29:57

And I thought maybe I need to be more like Mayor Legrand and ride a bike.

30:02

Um but got a skirt on today.

30:05

But um, you could get a rain suit too.

30:07

Yeah, I could get a rain suit.

30:08

But I do want to say uh congrats.

30:11

This was also in our news releases, but we were talking about what gets picked up, but that um we're nearing a billion in GR pay at digital uh payments.

30:20

So I just wanted to highlight that, and that's you know, a lot of collaboration in the article.

30:24

You talked about obviously the different collaborations.

30:27

Um, and again, to be able to easily collect it.

30:30

I know it's something I don't just you just go online and forget about it.

30:35

It really it's pretty it's pretty amazing.

30:37

I mean, we're talking about we're in our ninth year of double digit increases in this type of platform, so we've grown it from 29 million.

30:44

We're gonna finish over 200 million dollars this year collected electronically through our GR Pay It app.

30:49

Um, that's that's a huge deal because it it means we can post the the payments faster.

30:54

It means you can do it on your own time.

30:57

You don't have to come into City Hall.

30:59

When you talk about the the overall impact, it's more than just accepting money at City Hall.

31:06

It's saving gas, saving your time.

31:08

It's the person who's taking the bus to come into City Hall or taking off work to come downtown to stand in line to pay a water bill or a property tax bill.

31:17

It makes it a lot more convenient, and really it then you you can think of the sustainability aspect of it as well, because now you're taking all that paper and uh check an envelope, uh, a statement, something flowing through the mail that now is you know, when you sometimes we don't understand all of the impacts that our job or work has until you sit down on a like me on a Saturday morning, try to figure it out, you know, because you really don't you're really not thinking that of the sustainability impact or the overall impact of any of your customers taking a 40 minute two bus transfer ride to City Hall to do that work or to even take off of work and not be paid to come down and pay a bill.

31:59

So it's very important work, and and we are um absolutely thrilled that we're gonna cross this milestone before the end of the month.

32:06

Great.

32:07

Congrats and thank you to all the departments who worked alongside to make that happen.

32:11

All right, with that, uh that report is also received and filed, and we were adjourned at 9 02.

32:16

Thank you.

Discussion Breakdown — Share of Meeting
Procedural██████████████████18%
Public Safety████████████12%
Budget Equity Analysis███████████11%
Engineering And Infrastructure██████████10%
Parks and Recreation████████8%
Technology and Innovation███████7%
Fiscal Sustainability██████6%
Arts And Culture██████6%
Economic Development██████6%
Summary of Proceedings

Grand Rapids Fiscal Committee Meeting - July 21, 2026

The Grand Rapids Fiscal Committee convened on July 21, 2026 at 8:30 AM and adjourned at 9:02 AM. The meeting included 17 agenda items, all of which were approved unanimously. Key discussions and decisions are summarized below.

Discussion Items

  1. Investment Policy Amendment: Approved changes to the investment policy for retiree health care defined benefit plans, recommended by a new investment advisor. Changes were described as minor and clarifying.

  2. Broker Dealer Adjustments: Removed two broker dealers from the authorized list (due to lack of interest) and added Breen Capital LLC. The city treasurer emphasized maintaining competitive offers.

  3. Composting Grant: Accepted a $335,000 grant from the Wege Foundation for a wood grinder to support the city's composting initiatives. Total equipment cost is $975,000, with additional contributions from Public Works and Parks departments. A commissioner asked about the size of the equipment.

  4. Experienced Grand Rapids Contract: Approved $150,000 for fiscal year 2027 to promote Grand Rapids. $100,000 is general support and $50,000 is for specific initiatives; the contract includes promoting diversity and local businesses.

  5. Police Recruit Class: Authorized up to 10 recruits to attend Grand Valley State University (cost up to $102,235). Current sworn strength is 302; budgeted for 312. Training includes multiple phases before solo patrol.

  6. Aerial Imagery Payment: Approved $10,603.97 for oblique aerial imagery used by the assessor's office.

  7. KETA Reimbursement: Approved $24,953.38 to Grand Rapids Public Schools for PEG and franchise fee expenditures.

  8. Capital Improvement Bonds: Authorized up to $54.45 million in bonds for the fire training center and Scribner Avenue facility. The city plans to enter the market in August.

  9. Park Capital Budget Substitution: Initially approved a $240,750 budget substitution for park projects (bike park, Lincoln Park, master plan, signage). Due to a clerical error, the committee later approved a corrected $245,750 substitution, superseding the first.

  10. Lift Station Projects: Approved $908,185 budget substitution for Orchard Vista and Alpine Estate lift stations.

  11. Biosolids Authority Budget: Adopted the Grand Valley Regional Biosolids Authority FY27 operations and maintenance budget.

  12. Water System Bonds: Approved a series ordinance authorizing up to $21.05 million in junior lien revenue bonds through the state's Drinking Water Revolving Fund. $9 million for lead line replacements, balance for water main replacements. 20-year maturity at 2.5% interest, with up to $5.39 million principal forgiveness.

  13. Budget Ordinance Amendment: Approved Amendment No. 1 to the FY27 budget ordinance, including the addition of an administrative aid for the city commission, a domestic violence specialty court grant, environmental services, police department homeland security grant for a 3D laser scanner (for crime scene documentation), and several parks grants. Commissioners expressed strong support for all items.

  14. Bid List Resolution: Approved the July 21, 2026 bid list, including bulk road salt.

Reports

  • Comptroller's Warrant Report (Item 16): Reported $75.3 million in cash payments released, including $18.4 million in payroll and $2.5 million in income tax warrants. Travel spend for the first 11 months of FY27 was $1.8 million (81% of $2.3 million budget). 26 small claims were paid totaling $68,000. The new internal auditor, Summer Harris, was introduced.

  • Treasurer's Report (Item 17): Provided an economic update: CPI dropped from 4.2% to 3.5%; noted uncertainty with the new Federal Reserve Chair Warsh. The city's investment portfolio is $655 million, earning 3.33%. Expects to receive over $150 million in property taxes in the next two weeks. Celebrated that GR Pay digital payments are nearing $1 billion in total, with over $200 million collected electronically this year.

Key Outcomes

  • All 14 resolutions (Items 1-15, with Item 10 superseded by a corrected Item 18) were approved unanimously.
  • The comptroller's and treasurer's reports were received and filed.
  • The meeting adjourned at 9:02 AM.

Meeting Transcript

Good morning. The time is now 8 30, and we can go ahead and call our fiscal committee meeting to order. Oh, and I was just gonna ask. There you are, Mr. Compshouler. So good morning, everybody. Um, we have a full full seats today. So I said I was gonna make everybody get up and walk because or get up and dance because of the World Cup and Shakira's hit single. But uh Commissioner Kilgore said, can we wait till later today? So it is nice to see everyone. We've had a little break, and so we're trying to bring some levity to the meeting. There's been a lot going on, and we have a lot. We have 17 items today, so let's go ahead and get started. First is a resolution to amend the city's investment policy statement for retiree health care defined benefit plans. Can I have a motion? So moved? Support. Moved and supported, Mr. Bowl. Good morning, madam chair and commissioners. Um the the city recently retained a new uh investment advisor for management of uh trust funds for defined benefit uh retiree health care plans. That uh investment advisor uh recommended some relatively minor changes to our existing investment policy, and that is what is before you today. Um I wouldn't classify any of the changes being made as you know particularly major or substantial. A lot of it is trimming around the edges and uh clarifying uh some verbiage here and there. But I'm uh certainly welling willing to uh answer any questions you may have. Great, thank you, Mr. Bolt. Any questions, colleagues? Um, I would agree with the sentiments of that of that statement. Um I would say that's pretty typical when you move to a new provider, they might have some changes and things that they would see. Questions? Hearing and seeing none. All those in favor? Aye. Any opposed? The resolution carries. Thank you. Item number two is a resolution to repeal authorization to buy or sell securities with certain broker dealer firms. Do you have a motion? So moved. Support. Are you gonna take this one as well for them for the treasurer? Such a delegate leader. I'm sorry, yes. I not only am I delegating delegating a little bit here, but Mr. Bolt actually brought this forward to us and said, you know, as he as he looks at the different broker dealers that we have and the structure we have, the context that he has in the industry and what he's done. Some people will come forward and say, hey, what do you think about us being part of your bidding process? And so he will vet those those various uh groups, but also at the same time, my challenge to Mr. Bolt is are the ones that aren't bidding on our work, should we be able to take those off? And so for the next two items, this is Mr.

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