[00:00:06]
MORNING, EVERYONE. IT BEFORE WE GET STARTED, I'D LIKE TO JUST TAKE A MOMENT, BECAUSE MISS CLAIRE DOES NOT HAVE A REPORT AT THE END, AND I DON'T WANT TO FORGET. BUT, MISS CLAIRE, YOU ALL HAVE HIRED A NEW DEPUTY FOR THE OFFICE, SO I WANT TO TURN OVER TO HER FOR AN INTRODUCTION. A FEW MOMENTS. YES. I ALREADY LOST THEM. OH, THERE HE IS. OKAY. ROSS MCGINN.
ROSS MCGINN IS OUR NEW DEPUTY CHIEF FINANCIAL OFFICER. HE'LL BE HE JOINS US FROM MELBOURNE, FLORIDA. SO. AND AUSTRALIA. HE YEAH YEAH HE YEAH HE HE HE HAD THE COMMENT LAST WEEK THAT GOSH, IT'S SO COOL. LIKE, YOU KNOW, THE WEATHER UP HERE COMPARED TO FLORIDA RIGHT NOW OBVIOUSLY IS A LITTLE DIFFERENT, VASTLY BETTER HERE. SO THIS IS JUST REALLY ENJOYABLE WEATHER WHILE THE REST OF US ARE LIKE, OH MY GOSH, BUT HAPPY TO HAVE ROSS WITH US. HE'LL BE FILLING IN FOR ME ON THE DAIS IF I'M EVER OUT. AND HE'LL, HE'LL BE OVERSEEING WELL, HELPING, HELPING ME WITH MY DIRECT REPORT DEPARTMENTS, AS WELL AS DIRECTLY OVERSIGHT OF FISCAL SERVICES. SO, SO WE'RE HAPPY TO HAVE HIM ON BOARD. WELCOME. AND YEAH, WE'LL LOOK FORWARD TO EITHER BEING ON THE DAIS OR IN THE HALLWAY. SO THANKS SO MUCH. AND I HOPE YOU LIVE IN THE SECOND WARD. SO OKAY, LET'S GO TO OUR FIRST ITEM. FIRST IS A RESOLUTION RECOGNIZING FULTON
[1. Resolution Recognizing Fulton Street Farmers Market Inc.’s as a Local Civic Organization]
STREET FARMERS MARKET AS A LOCAL CIVIC ORGANIZATION. SO MOVED. SUPPORT MOVED IN SUPPORT OF MISS HARTMAN. GOOD MORNING. THIS IS A ROUTINE ITEM. OUR OFFICE HAS CONFIRMED THE FULTON STREET FARMERS MARKET AS IT'S STATUS WITH THE STATE OF MICHIGAN, AND THAT THEY MEET THE STATUTORY REQUIREMENTS FOR A LOCAL CIVIC ORGANIZATION. IF ANYONE FROM FULTON STREET FARMERS MARKET IS PRESENT, WOULD LIKE TO SPEAK ON ITS BEHALF. SEEING NONE. I DON'T THINK ANYTHING ELSE. YEAH, I THINK WE'RE WE'RE ALL SET. THIS IS A PRETTY AS YOU SAID, A FAIRLY, FAIRLY ROUTINE ITEM, A WELL KNOWN ORGANIZATION IN OUR COMMUNITY. SO I'LL CALL THE QUESTION. ALL THOSE IN FAVOR? AYE. ANY OPPOSED? ITEM CARRIES. THANK YOU. NEXT ITEM IS A[2. Resolution approving an amendment to the Interlocal Agreement between Grand Valley State University and the City of Grand Rapids for extending dispatch services for an additional three years for an amount not to exceed $6,080.00]
RESOLUTION APPROVING AN AMENDMENT TO THE INTERLOCAL AGREEMENT BETWEEN GRAND VALLEY STATE UNIVERSITY AND THE CITY OF GRAND RAPIDS FOR EXTENDING DISPATCH SERVICES FOR AN ADDITIONAL THREE YEARS, FOR AN AMOUNT NOT TO EXCEED $6,080. DO HAVE A MOTION. SO MOVED.SUPPORT MOVED IN SUPPORT OF MR. WIBLE. GOOD MORNING COMMISSIONERS. THIS IS ONE ITEM WHERE I GET TO COME TO YOU NOT TO ASK FOR MONEY, BUT TO ASK FOR PERMISSION TO BILL OUR DISPATCH. EMERGENCY COMMUNICATIONS CENTER PERFORMS THIS SERVICE FOR GRAND VALLEY'S DOWNTOWN CAMPUS. THEY HAVE THEIR OWN SWORN OFFICERS, BUT WE PITCH IN WITH DISPATCH. IT'S NOT A HUGE LIFT ON OUR DISPATCHERS. WE DID 95 CALLS LAST YEAR, 46 TO DATE THIS YEAR, WHERE WE HAVE AN OFFICER GO OUT. OBVIOUSLY, IF THEIR OFFICERS, GVSU OFFICERS ARE NOT AROUND, GRPD WILL RESPOND. BUT THIS AGREEMENT HAS BEEN IN PLACE SINCE 2018. RENEWED EVERY THREE YEARS. JUST CODIFIES THE INTERLOCAL AGREEMENT. GREAT. THANK YOU. QUESTIONS, COLLEAGUES ON THIS ITEM. HEARING AND SEEING NONE. ALL THOSE IN FAVOR? AYE. ANY
[3. Resolution authorizing execution of a $75,650 Donated Funds Agreement with the Michigan Department of Health and Human Services (MDHHS) for a dedicated eligibility specialist for the Eviction Prevention Program]
OPPOSED? ITEM CARRIES. THANKS, MATT. ITEM NUMBER THREE IS A RESOLUTION AUTHORIZING EXECUTION OF A $75,650 DONATED FUNDS AGREEMENT WITH THE MICHIGAN DEPARTMENT OF HUMAN SERVICES DHHS FOR A DEDICATED ELIGIBILITY SPECIALIST FOR THE EVICTION PREVENTION PROGRAM. SO MOVED. SUPPORT MOVED IN SUPPORT OF MR. TUCKER. GOOD MORNING. FISCAL COMMITTEE. THIS ITEM DEALS WITH $76,650 OF FUNDS TO CONTINUE OUR PARTNERSHIP WITH THE MICHIGAN DEPARTMENT OF HEALTH AND HUMAN SERVICES AND THE SALVATION ARMY. IT IS AN EVICTION PREVENTION PROGRAM POSITION THAT IS, THAT WE'RE SUPPORTING. AND THIS PARTNERSHIP WAS STARTED BACK IN 2018 WITH THE SUPPORT OF THE STEELCASE FOUNDATION, AS WELL AS AS WELL AS THE GRAND RAPIDS COMMUNITY FOUNDATION. THE THIS THIS POSITION HELPS TO PROVIDE SERVICES TO FOLKS WHO HAVE A PENDING EVICTION NOTICE, SENDS THEM TO RESOURCES TO HELP THEM GET THAT, GET WHATEVER IS AT ISSUE RESOLVED. AND ONCE THOSE ONCE THOSE RESOLUTIONS ARE RESOLVED, THE THE THE LANDLORD RECEIVES A COURT JUDGMENT AND AGREES TO DROP THE EVICTION CASE UPON RECEIPT OF THE PAYMENT FROM ANY OF THE SERVICES THAT ARE PROVIDED TO THE PERSON WITH THE PENDING EVICTION. THANK YOU. QUESTIONS. COLLEAGUES. HEARING NONE, I'LL JUST ADD, YOU KNOW, I USED TO WORK WITH THE ORGANIZATION. I WORK CLOSELY WITH EM, DHS, AND YOU KNOW THAT THIS PROGRAM IS REALLY VALUABLE. IT HELPS TO UNDERSTAND WHERE THE BREAKS IN THE SYSTEM AND TO BOTH THE LANDLORD AND TO THOSE THAT ARE EXPERIENCING THAT PROCESS. SO I'LL CALL THE QUESTION. ALL THOSE IN FAVOR? AYE. ANY OPPOSED? ITEM CARRIES. THANK YOU. ITEM NUMBER FOUR IS A[4. Resolution accepting a grant in an amount up to approximately $5 million from the Michigan Indigent Defense Commission (MIDC) Department of Licensing and Regulatory Affairs (LARA) and authorizing execution of agreements for implementation of the FY27 Compliance Plan as required by the MIDC Act]
RESOLUTION ACCEPTING A GRANT IN THE AMOUNT OF APPROXIMATELY $5 MILLION FROM THE MICHIGAN[00:05:05]
INDIGENT DEFENSE COMMISSION, DEPARTMENT OF LICENSING AND REGULATORY AFFAIRS, AND AUTHORIZING EXECUTION OF AGREEMENTS FOR IMPLEMENTATION OF THE FISCAL YEAR 27 COMPLIANCE PLAN, AS REQUIRED BY THAT M I'D C ACT. YOU HAVE A MOTION. SO MOVED. SUPPORT MOVED IN. SUPPORT. MISS BULLOCK, GOOD MORNING. SWITCH SPOTS. YES WE DID SWITCH SPOTS. GOOD MORNING.SO THIS IS THE AWARD FOR IMPLEMENTATION OF OUR ANNUAL COMPLIANCE PLAN FOR INDIGENT DEFENSE SERVICES. IN THE 61ST DISTRICT COURT. THERE ARE NINE MANDATED STANDARDS THAT ARE REGULATED BY THE MICHIGAN INDIGENT DEFENSE COMMISSION THROUGH LAURA. AND WE'RE IN COMPLIANCE AND HAVE BEEN SINCE 2017. WITH ALL OF THOSE STANDARDS, THESE RESOURCES, IT IS A FUNDED MANDATE. AND SO THAT WE HAVE THE AN EXACT AMOUNT, BUT YET AN APPROXIMATE AMOUNT, BECAUSE WE REALLY WON'T KNOW THE FINAL AMOUNT UNTIL WE CLOSE OUT OUR EXISTING GRANT, WHICH IS, YOU KNOW, LATER THIS YEAR BECAUSE IT'S A OCTOBER 1ST START DATE FOR THIS PROGRAM.
AND THEN THERE'S ALWAYS OPPORTUNITY BECAUSE IT'S MANDATED OR SORRY, UNFUNDED MANDATE. IF WE WERE TO SPEND MORE THAN WHAT IS ANTICIPATED, THEY DO HAVE TO PROVIDE THOSE RESOURCES TO US. SO THIS KIND OF GIVES US SOME FLEXIBILITY TO, IN TERMS OF HOW MUCH WE RECEIVE.
THANK YOU SO MUCH FOR THE EXPLANATION AND HISTORY QUESTIONS, COLLEAGUES ON THIS ITEM. HEARING AND SEEING NONE. ALL THOSE IN FAVOR? AYE. ANY OPPOSED? ITEM CARRIES. THANK
[5. Resolution Authorizing the Write-Off of Uncollectible Water and Sewer Utility Account Balances for Fiscal Year 2026]
YOU. NUMBER FIVE IS A RESOLUTION AUTHORIZING THE WRITE OFF OF UNCOLLECTIBLE WATER AND SEWER UTILITY ACCOUNT BALANCES FOR THE FISCAL YEAR 2026. DO I HAVE A MOTION? SO MOVED. SUPPORT MOVED IN. SUPPORTED. MR. MR. COMING UP. BUT THIS IS THIS IS HE'S HE'S COMING. HE'S COMING DOWN THE MAIN PATHWAY. I'LL SEE IF I CAN GET HIM BEFORE YOU GET THERE.THIS IS THIS IS BASICALLY AN ANNUAL WRITE OFF OF OUTSTANDING ACCOUNTS. WE TALK ABOUT THIS EVERY YEAR. I THINK IN THE 12 YEARS I'VE BEEN HERE, THIS IS ONE OF THE LOWEST I'VE SEEN IT.
WHEN I FIRST GOT HERE, IT WAS UP OVER 100 000. SO SO THE UTILITY BUSINESS OFFICE DOES A GREAT, GREAT JOB SCALING DOWN THOSE RECEIVABLES MILLION IF YOU WANT TO ADD ANYTHING. YEAH.
MOST OF THESE ARE UNDER THE THE THRESHOLD OF $10. SO THAT'S WHERE A SIGNIFICANT PORTION IS.
THERE ARE TWO THAT WERE, I THINK FORECLOSURES THAT ARE IN THERE THAT TOTALED THAT MADE UP PRETTY MUCH 95% OF THE AMOUNT THAT'S THERE. SO THANK YOU. THANKS FOR HIGHLIGHTING. YEAH, WE'RE GETTING LIKE A HISTORY LESSON ON ALL THESE, YOU KNOW, ONES. SO I'M GOING TO CALL THE QUESTION UNLESS THERE'S A OH, I'M SORRY COMMISSIONER. YES. THANK YOU SO MUCH, CHAIR. CAN WE KNOW THE THE ACTUAL NUMBER OF WHAT WE'RE WRITING OFF? IS THERE A IS THERE A TOTAL NUMBER AVAILABLE? THE TOTAL NUMBER IS IN THERE. I WANT TO SAY IT'S A LITTLE OVER $1,000. YEAH. 1194.
IT WAS MISSING A ZERO FOR A SECOND. YEAH. NO, NO, THAT'S WHY IT'S, IT'S SO IMMATERIAL.
IT'S. YEAH, THAT'S VERY HELPFUL. YEAH. I JUST THINK THIS IS WONDERFUL. I THINK ESPECIALLY IN THESE TIMES WHERE WE CAN PROVIDE GRACE IS WONDERFUL. I KNOW THROUGH OUR LEGISLATIVE COMMITTEE, I'VE BEEN PUSHING FOR THE CITY TO SUPPORT WATER LEGISLATION AT THE STATE LEVEL TO HELP FOLKS ON THE EAST SIDE. I KNOW THIS IS QUITE A SIGNIFICANT CHALLENGE IN SOME OF OUR COMMUNITIES THROUGHOUT THE STATE. SO YEAH, I THINK THIS IS GREAT AND I'M HAPPY TO SUPPORT IT AND HAPPY. IT'S ALSO A VERY LOW NUMBER AS WELL. YES. THANK YOU SO MUCH. THANK YOU.
THANK YOU. ALL THOSE IN FAVOR? AYE. ANY OPPOSED ITEM CARRIES. AND THEN THIS NEXT ONE IS YOU TWO WAYNE. THOUSAND DOLLARS. NEXT IS A RESOLUTION AUTHORIZING A BUDGET
[6. Resolution authorizing a Budget Substitution in the amount of $3,000,000 for SCADA Modernization]
SUBSTITUTION. THE AMOUNT OF $3 MILLION FOR THE SCADA MODERNIZATION. DO I HAVE A MOTION? SO MOVED. SUPPORT MOVED IN SUPPORTED. SO THE SCADA IS THE SUPERVISORY CONTROL AND DATA ACQUISITION PROGRAMS AND SYSTEMS THAT OPERATE BOTH OUR WATER PUMPING DISTRIBUTION AND TREATMENT, AS WELL AS OUR WASTEWATER, OUR OUR WHARF SITE IN TERMS OF THE SEWAGE COLLECTION AND TREATMENT AS WELL, THIS $3 MILLION REQUEST SHOULD BE THE LAST CHUNK OF MONEY THAT WE NEED TO TOTALLY OVERHAUL OUR SCADA SYSTEM. AND AS YOU'VE PROBABLY READ IN THE NEWS, THERE'S BEEN A LOT OF SCRUTINY ON VARIOUS SYSTEMS. I DON'T WANT TO GET INTO DETAILS, BUT A LOT OF THOSE SYSTEMS ARE WHERE THEY HAVE DEVICES THAT ARE INTERNET FACING, WHICH IS COMPLETELY DIFFERENT FROM WHAT WE HAVE. SO THIS IS MODERNIZATION OF EQUIPMENT PROGRAMING AND BEST PRACTICES ACROSS BOTH SYSTEMS. THANK YOU SO MUCH. DID YOU HAVE ANOTHER QUESTION, COMMISSIONER? YES, PLEASE. COMMISSIONER, CAN YOU JUST HIGHLIGHT FOR US THIS HAS BEEN WE'VE HAD, LIKE YOU SAID, SEVERAL SUBSTITUTIONS AND OR ADDITIONS. CAN YOU JUST TELL US WHAT THE TOTAL AMOUNT FOR THIS PROJECT IS? AND IS THIS A CHANGE IN FUNDING STRUCTURE THAT WE'RE AUTHORIZING EXACTLY TODAY OR JUST ADDITIONAL DOLLARS? THIS IS ADDITIONAL[00:10:01]
DOLLARS. AND PART OF IT HAS TO DO WITH THE ACTUAL COST OF INFRASTRUCTURE IS GOING UP IN TERMS OF, AS WE'VE GONE ALONG WITH THIS, TOTAL AMOUNT INVESTED IS GOING TO BE BETWEEN 11 AND $12 MILLION TOTAL, BUT THAT IS SPLIT BETWEEN WATER AND ENVIRONMENTAL SERVICES. IN TERMS OF HOW WE MANAGE IT, IT'S REALLY A SHARED RESOURCE TO BOTH OF US, AND I DO REALIZE HOW VERY, VERY IMPORTANT IT IS TO MAKE SURE THAT WE CONTINUE TO HAVE THESE KINDS OF SYSTEMS UP TO DATE FOR CLEAN WATER, AND DRINKING WATER IS IMPORTANT FOR ALL OF US. SO THANKS. YEAH. AND ONE THING I WILL POINT OUT JUST ON WITH WHAT YOU KNOW, OH MY GOSH, THE COST AND THINGS LIKE THAT, YOU'LL SEE IF YOU EVER SPEND TIME LOOKING AT THE APPROPRIATION PAGE, IT'S DRAWING FROM FUNDS IN OUR IP ACCOUNT. SO WHEN A PROJECT IS COMPLETED AND WE CLOSE IT DOWN, WE TAKE THAT EXTRA BUDGET THAT WE ALREADY APPROPRIATED, PUT IT INTO THESE ACCOUNTS. SO IT'S KIND OF LIKE HOLDING ACCOUNT TO PUT TOWARDS THE NEXT, YOU KNOW, LIKE WAYNE SAID, I, I NEED MORE MONEY TOWARDS SCADA PROJECT. WE HAVE MONEY THAT'S, THAT'S ALREADY ON HAND THAT WE HAD PLANNED TO SPEND, I THINK, YOU KNOW, AS A, AS A BODY, YOU GUYS, YOU MIGHT WANT TO LOOK AT, OKAY, THIS THIS IS COMING FROM IP. WE HAD ALREADY PLANNED ON THAT GOING OUT THE DOOR, BUT WE WERE ABLE TO UTILIZE IT TOWARDS THIS OTHER PROJECT INSTEAD OF SOMETHING THAT'S PULLED FROM FUND BALANCE THAT AFFECTS THE BOTTOM LINE OF THE, YOU KNOW, THE UTILITY OR, YOU KNOW, WE DO THAT FROM GENERAL FUNDS SOMETIMES. I WANTED TO POINT THAT OUT. YEAH. JUST TO FURTHER THAT, ANYTIME YOU HAVE CD ITEMS THAT COME THROUGH, YOU WILL SEE AN EVEN FISCAL ITEMS, YOU'LL SEE A PORTION OF THE FUNDING AMOUNT IS CONTINGENCY AMOUNT. SO IF THERE WERE TO BE AN UNEXPECTED COST WITHIN A PROJECT, THERE IS ALWAYS A 1,012% EXTRA THAT IS IN THOSE APPROVED AMOUNTS. A LOT OF TIMES IT NEVER GETS SPENT. OKAY. THAT MONEY ENDS UP GOING BACK INTO THE I I, P IS, IS MOLLY TALKED ABOUT. AND THAT'S WHERE THIS MONEY IS COMING FROM, WHERE WE'VE BUILT THAT UP THROUGH THE YEARS WITH PROJECTS THAT WE WERE, WE DIDN'T SPEND THE FULL AMOUNT. THANK YOU. SEE, THAT'S. SO THAT'S WHY YOU STAYED UP HERE. NO. BUT IN ALL REALITY, I THINK, YOU KNOW, WE'RE TALKING ABOUT JUST A CONTINUED TRANSPARENCY, AWARENESS, EVERYTHING THAT I THINK WE'RE ALL AS INDIVIDUALS OR, YOU KNOW, MY COLLEAGUE TALKED ABOUT IT FOR INDIVIDUALS, BUT THE CITY, ANYTHING THAT WE'RE PURCHASING OR INVESTING IN, IT'S IT'S PROBABLY GONE UP. BUT THANK YOU FOR HIGHLIGHTING ALL THOSE PIECES, WAYNE. SO I'M GOING TO CALL THE QUESTION. ALL THOSE IN FAVOR? AYE. ANY OPPOSED ITEM CARRIES. THANK YOU.[7. Resolution authorizing a Budget Substitution of $7,892.21 for Reconstruction of Crescent Street Alley from Grand Avenue to Eastern Avenue]
NEXT IS RESOLUTION NUMBER SEVEN AUTHORIZING A BUDGET SUBSTITUTION OF $192.21 FOR RECONSTRUCTION OF CRESCENT STREET ALLEY FROM GRAND AVENUE TO EASTERN AVENUE. DO HAVE A MOTION. SO MOVED SUPPORT MOVED IN SUPPORTED. MR. MCCALL. NICE TO SEE YOU. GOOD MORNING.COMMISSIONERS. YEAH. FILLING IN FOR CITY ENGINEER IRVIN WHO'S ON VACATION THIS WEEK OR SHE'S BACK TOMORROW ACTUALLY. SO THIS IS A PROJECT THAT WAS A SPECIAL ASSESSMENT DISTRICT REQUESTED BY THE PROPERTY OWNERS. THE THE PROJECT IS DONE. AND THIS IS A REQUEST TO JUST SUPPLEMENT THE PROJECT BUDGET FROM PREVIOUSLY APPROVED FUNDS IN THE AMOUNT OF $7,892.21. THANK YOU. QUESTIONS, COLLEAGUES. ALL THOSE IN FAVOR? AYE. ANY OPPOSED? ITEM CARRIES. THANK YOU. ITEM NUMBER EIGHT IS
[8. Bid List Resolution for August 11, 2026]
A RESOLUTION FOR AUGUST 11TH, 2026. DO I HAVE A MOTION? SO MOVED. SUPPORT MOVED IN.SUPPORTED. MISS KAREN. ANYTHING YOU'D LIKE TO HIGHLIGHT? SURE, I'LL I'LL DIRECT YOU TO NUMBER FOUR. WE SELECTED BARRY DUNN AS TO HANDLE THE STAFFING LEVEL OVERTIME UTILIZATION STUDY FOR OUR FIRE AND POLICE DEPARTMENT. WE TALKED ABOUT THAT DURING OUR, YOU KNOW, BUDGET SESSIONS WITH COMMISSION, JUST TRYING TO GET A HANDLE ON STAFFING UTILIZATION AND JUST, JUST SEEING THE GROWING GROWING AMOUNT WE SPEND ON OVERTIME FOR BOTH OF THOSE DEPARTMENTS. SO THIS IS THIS IS AN EFFORT TO GET OUR HANDS AROUND THAT MORE, SEE IF THERE ARE BEST PRACTICES OR ANYTHING ELSE THAT WE COULD BE APPLYING. SO, SO THAT WORK WILL GET UNDERWAY AND HOPEFULLY INFORM OUR NEXT FISCAL YEAR 28 BUDGET. THANK YOU. QUESTIONS, COLLEAGUES. HEARING NONE. ALL THOSE IN FAVOR? AYE. ANY OPPOSED ITEM CARRIES. AND THAT'S ALL OF OUR ITEMS TODAY.
[9. Comptroller's Warrant Report for the period of July 1, 2026 through July 27, 2026 in the amount of $95,166,325.92 and Monthly Travel Report]
SO WE'RE GOING TO TURN TO NUMBER NINE WHICH IS OUR COMPTROLLER'S REPORT FOR THE PERIOD OF JULY 11TH, 2026 THROUGH JULY 27TH, 2026, AND THE AMOUNT OF $95,166,325.92.AND A MONTHLY TRAVEL REPORT, MR. COMPTROLLER. YEP. GOOD MORNING COMMISSIONERS. FOR THE PERIOD REFERENCE, THE CASH PAYMENTS WERE RELEASED TOTALING APPROXIMATELY $95.1 MILLION, WHICH INCLUDES JUST UNDER $6.6 MILLION FOR EMPLOYEE PAYROLL EXPENSES AND APPROXIMATELY $417,000 FOR INCOME TAX WARRANTS. IN TERMS OF QUANTITY, 1630 INCOME TAX REFUNDS WERE ISSUED AND 2461 CHECKS AND ELECTRONIC PAYMENTS WERE ISSUED. THESE FUNDS WERE ISSUED FOR
[00:15:01]
PAYMENT BY INDIVIDUALS NOT IN THE CITY COMPTROLLER'S OFFICE AND NOT IN ACCORDANCE WITH THE TERMS OF THE CITY CHARTER. AND I WANT TO ADD THAT IT'S TITLE SIX, SECTION 90 OF THE GRAND RAPIDS CITY CHARTER THAT REQUIRES THAT ALL PAYMENTS OF MONEY BE ISSUED BY THE CITY COMPTROLLER AND THE FISCAL SERVICES DEPARTMENT DOES NOT HAVE AUTHORIZATION TO ISSUE PAYMENTS IN THE CHARTER OR TO SIGN IN PLACE MY SIGNATURE ON CHECKS WITHOUT MY PERMISSION.THE SECOND REPORT THAT I HAVE HERE IS THE MONTHLY TRAVEL REPORT, AND THAT IS FOR THE JUNE FULL YEAR PERIOD. AND THAT IS SHOWING THAT APPROXIMATELY $2.2 MILLION HAS BEEN SPENT, OR ABOUT 94% OF THE OVERALL BUDGET FOR THE YEAR. THANK YOU. NEXT, WE'RE GOING TO TURN TO THAT
[10. Treasurer's Report for the Period of July 7, 2026, through July 28, 2026]
REPORT IS RECEIVED AND FILED. WE'RE GOING TO TURN OVER TO OUR CITY TREASURER FOR HIS REPORT.GOOD MORNING, COMMISSIONERS, WITH OUR REPORT TODAY. I JUST WANT TO POINT OUT THAT THE FED RATE OF 3.5 TO 3.75% INTEREST IS IS HOLDING RIGHT NOW. HOWEVER, THERE HAVE BEEN REALLY SOME SIGNALS THAT WE MIGHT BE SEEING THAT RATE GO UP. WE HAD THERE ARE NO DISSENTING OPINIONS RIGHT NOW TO LOWER THE RATE. THERE ARE THREE OPINIONS ON THE FED BOARD THAT ARE ASKING TO RAISE RATES. WE ARE LOOKING RIGHT NOW TO TODAY'S OR NOT TODAY'S. BUT THIS WEEK'S IMPORTANT INFORMATION BECAUSE CPI IS COMING OUT THIS WEEK. THAT'S GOING TO FURTHER PUSH, I THINK, US IN A DIRECTION TO POTENTIALLY RAISE RATES. IT ALL DEPENDS ON HOW IT COMES IN RIGHT NOW. THERE'S LOTS OF STILL MIXED MESSAGES IN THE MARKET. WE DID SEE A JOBS REPORT THAT WAS NEGATIVE, WHICH THAT WAS ANOTHER SURPRISE. THAT WAS OVER 100,000 JOBS SURPRISE OR EXPECTING LIKE A 90 TO 95,000 INCREASE. AND WE ACTUALLY REDUCED JOBS BY 27,000 JOBS LAST WEEK. THAT WAS ANOTHER REPORT THAT CAME OUT THAT IS MAKING SOME VERY BIG CHALLENGES FOR THE FED. OUR NEW FED CHAIR, FED CHAIR WARSH, IS BASICALLY STATING HE'S NOT AFRAID TO RAISE RATES. SO DON'T BE SURPRISED IF WE SEE A RATE BEING RAISED IN THE NEAR FUTURE.
IT'S BEING 50 GREATER THAN 50% PROBABILITY THAT A RATE WILL BE INCREASED. WHAT THAT DOES IS THAT MEANS THAT ON THE INVESTMENT SIDE, WE'LL BE ABLE TO EARN MORE MONEY ON THE FUNDS WE HAVE, BUT IT IS GOING TO PRESENT CHALLENGES WHEN NEW DEBT ISSUANCE COME OUT, BECAUSE THAT'S GOING TO MAKE IT A HIGHER RATE THAT WE'RE GOING TO BE BORROWING AT. BUT THE GRAND RAPIDS CITY OF GRAND RAPIDS IS AN REALLY GOT AN INCREDIBLE TRACK RECORD WITH THE DEBT ISSUANCE AND HAVING LOW, LOW PERCENTAGE RATES BECAUSE OF THE MICHIGAN MARKET AND HOW MICHIGAN MUNICIPAL BONDS ARE REALLY TREATED IN THE INVESTMENT COMMUNITY. SO I'M I SEE US STILL GETTING GOOD RATES WHENEVER WE'RE ISSUING BONDS. I DON'T THINK IT'S GOING TO BE A MAJOR HICCUP THAT WE'RE GOING TO SEE. IT'S JUST A NORMAL COURSE OF BUSINESS FOR US. IT'S IT'S MEANS THAT WE SHOULD BE ABLE TO KEEP THESE SHORTER TERM FUNDS EARNING A HIGHER RATE IF WE SEE AN INTEREST RATE BUMP, BECAUSE WE'LL BE ABLE TO GET OTHER INVESTMENTS THAT CAN GIVE US A BETTER RETURN ON OUR MONEY. WITH OUR PORTFOLIO TODAY, WE'RE LOOKING AT $674 MILLION. I DO WANT TO POINT OUT THERE'S ANOTHER LINE THAT WE ADDED FOR FIDUCIARY TAX MONEY. THOSE ARE THE TAX MONIES WE'RE COLLECTING FOR THE LOCAL TAXING AUTHORITIES THROUGH PROPERTY TAXES. AND THAT WILL IMPACT THE COMPTROLLER'S REPORT NEXT SESSION, BECAUSE WE JUST SENT OUT $157 MILLION WORTH OF TAX MONEY TO THE SCHOOLS, KENT COUNTY AND THE VARIOUS OTHER TAXING AUTHORITIES THAT WE DO BUSINESS WITH. SO THE FLOW OF MONEY IS IS REALLY GOING VERY WELL. WE'RE TURNING IT OVER, GETTING IT OUT TO THOSE PARTIES THAT NEED IT FOR THEIR UPCOMING SCHOOL YEARS AND FOR THEIR OPERATING BUDGETS, WHICH THEN WILL START A LOT OF THEM START IN OCTOBER. SCHOOLS START EARLIER, BUT REALLY EVERYTHING IS GOING AS PLANNED. OUR OUR KEY, THOUGH, IS REALLY LOOKING AT WHERE THE INFLATION RATE IS COMING IN BECAUSE AGAIN, FED CHAIR WARSH IS IS STILL FOCUSING ON GETTING THAT DOWN TO 2%. WELL, THERE'S ONLY A COUPLE THINGS HE CAN DO TO GET IT DOWN TO 2% INFLATION. AND SO THERE'S GOING TO BE SOME CHALLENGES I THINK COMING UP. BUT REALLY IT'S FOR US IT'S A WAIT AND SEE. WE KNOW THAT ALL OF OUR MONEY IS IN STABLE, GOOD INVESTMENTS WITH OUR MUNICIPAL BOND INVESTMENTS, AS WELL AS US TREASURIES AND OTHER ACCOUNTS THAT WE HAVE. SO WE'RE IN A VERY GOOD, SAFE, STABLE POSITION. THE QUESTION NOW IS WHAT ARE ALL THE EXTERNAL FORCES GOING TO BE AND HOW WE REACT TO THOSE. THANK YOU, MR. TREASURER. I APPRECIATE THAT REPORT. THAT REPORT IS RECEIVED AND FILED. BUT BEFORE WE GET DONE, I WANT TO ADD ONE COMMENT. COLLEAGUES, I THINK I HAVE A FEW MINUTES. IT'S NOT TILL 915. I WANT TO RESPOND TO OUR CONTROLLER'S COMMENTS. MANY OF YOU KNOW, WE CURRENTLY HAVE A DISAGREEMENT BETWEEN OUR CONTROLLER, AS HE JUST STATED, AND THE CITY AS IT RELATES TO THE INTERPRETATION OF OUR CITY CHARTER. THAT DISAGREEMENT IS
[00:20:05]
CURRENTLY BEING ADDRESSED BY THE COURTS, WHICH I THINK IS THE APPROPRIATE PLACE TO RESOLVE THAT DISAGREEMENT. SO I'M DISAPPOINTED THAT WE ARE UP HERE IN MY APOLOGIES THAT THESE COMMENTS KEEP COMING IN THIS BODY. I THINK THE COURT IS THE APPROPRIATE VENUE. SO I WANT TO SAY THAT TO ALL OF YOU AS WELL AS YOU, MR. CONTROLLER. I THINK THESE WE ARE WORKING EVERY SINGLE DAY TO MAKE SURE THE PUBLIC HAS THE TRUST IN THE CITY OF GRAND RAPIDS. AND I THINK THAT HOPEFULLY, YOU SEE, AFTER THIS MEETING, WHETHER YOU HEARD MR. JERNBERG TALK ABOUT OUR WATER SYSTEM AND MISS CLAREN ADDING TO THOSE PIECES, WHETHER IT'S HEARING FROM OUR COMMUNITY DEVELOPMENT MANAGING DIRECTOR, TO TALK ABOUT HOW DO WE TAKE IN THESE DOLLARS? WHAT DO WE REVIEW THAT DIFFERENT BODIES TRUST US WITH BOTH, YOU KNOW, OUR RESIDENTS THAT TRUST US WITH THEIR PUBLIC DOLLARS, THEIR TAX DOLLARS, BUT ALSO OTHER ENTITIES WHO PLACE THEIR TRUST, AS YOU HAVE HEARD IN NUMEROUS MEETINGS, DIFFERENT GRANTS THAT WERE RECEIVED. YOU KNOW, THOSE GRANTS AREN'T JUST FREE MONEY THAT COME TO US. THEY COME. AND I'M LOOKING AT SO MANY LEADERS WHO VIE FOR THOSE GRANTS, WHO SPEND TIME WRITING THOSE GRANTS. I THINK COMMENTS LIKE TODAY ERODE, WHETHER INTENTIONAL OR NOT, PUBLIC TRUST IN THIS BODY. AND SO I JUST WANT TO SAY THAT AND I WANT TO SAY THANK YOU. AND WITH THAT, WE'RE ADJOURNED AT 851.* This transcript was compiled from uncorrected Closed Captioning.