Minutes 01/11/2011 - Laserfiche WebLink

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January 11. 2011 Discussion: . In an effort to minimize compression issues in the future, the City recommends amending the FY 2010-2011 Classification and Pay Plan to implement an 8% promotion increase for all supervisory ranks of sworn Fire and Police. Financial Impact: . Based on the Matrix consultant's recommendation during the September 28, 2010 Public Works Session, the City is requesting this change in lieu of the current 10% and 15% increases in order to stabilize the financial impact. Staff Recommends: . Council's adoption of this ordinance. Vision Principle: Bold New Directions and Robust and Prospering Economy. Next Steps Following Council Action: . Upon City Council's approval, the Department of Human Resource Management will implement the new promotion increase amounts on all subsequent promotions for sworn Fire and Police. Motion by Mr. Heretick, and seconded by Mr. Moody, to adopt the following ordinance providing a 12% increase for promotion to positions of police lieutenant and fire captain and 8% for all other supervisory promotions of sworn fire and police employees, and was adopted by the following vote: "ORDINANCE AMENDING THE FY 2010-11 CLASSIFICATION AND PAY PLAN TO ESTABLISH NEW PROMOTION SALARY INCREASE RATES FOR SUPERVISORY RANKS OF SWORN FIRE AND POLICE EMPLOYEES." Ayes: Cherry, Edmonds, Heretick, Moody, Randall, Whitehurst, Wright Nays: None - City Manager's Report - 11 - 15 - Adoption of an ordinance authorizing $28,000,000 in equipment and vehicle lease obligations of the City under a new Master Lease Agreement. Vision Principles: Thriving Neighborhoods and a Sense of Community and a Robust and Prospering Economy. Background: . The City entered into a Master Lease Agreement dated as of April 30, 2004, as amended, to provide for the various equipment and vehicle needs of the City. . On August 24, 2010 City Council approved use of $4,000,000 of City Garage Fund balance with the intent to reimburse itself in the future from the proceeds of the Master Lease Agreement. . On January 1, 2011, approximately $7.8 million of existing equipment and vehicle lease obligations will be outstanding under the existing Master Lease Agreement. The City's goal in refinancing the outstanding lease obligations is to achieve significant operational efficiencies without incurring increased costs. . The City's multi-year Capital Improvement Program identifies approximately $17.3 million of equipment and vehicle leasing needs in fiscal years 2011 through 2015, including approximately 324 different pieces of equipment and vehicles. . The City's administration, in consultation with Davenport & Company LLC, the City's financial advisor, requested proposals from several financial institutions for a new Master Lease Agreement pursuant to which the City may refinance its existing lease obligations and enter into lease obligations for the new equipment and vehicles in fiscal years 2011 through 2015. . In response to its request, the City received several proposals for the new Master Lease Agreement. Discussion: . It is in the financial best interest of the City to enter into a new Master Lease Agreement.