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WILL GO AHEAD AND CALL THIS FISCAL COMMITTEE MEETING TO ORDER. GOOD. GOOD MORNING EVERYONE. SORRY, I WAS MAKING AN AFTERNOON. WE HAVE A NUMBER OF ITEMS TODAY, THE FIRST ONE
[1. Resolution authorizing execution of a Memorandum of Understanding with Kent County for FFY 2026 Byrne Memorial Justice Assistance Grant (JAG) funds totaling $198,363]
BEING A RESOLUTION AUTHORIZING EXECUTION OF A MEMORANDUM OF UNDERSTANDING WITH KENT COUNTY FOR FISCAL YEAR 2026, THE BYRNE MEMORIAL JUSTICE ASSISTANCE GRANT, ALSO KNOWN AS JAG, FOR FUNDS TOTALING $198,363. DO YOU HAVE A MOTION? SO MOVED. SUPPORT. SUPPORTED MISS BOHAC.GOOD MORNING. I'M HERE FOR MR. TUCKER THIS MORNING, AND THIS IS AN ANNUAL PROCESS THAT WE GO THROUGH TO RECEIVE THE JAG FUNDS FROM THE DEPARTMENT OF JUSTICE. WE ARE ELIGIBLE FOR RESOURCES IN A JOINT APPLICATION WITH KENT COUNTY. AND WE'VE DONE THIS FOR MANY YEARS NOW. AND THE CITY USES IT'S IT'S FUNDING OR IT'S FUNDING FOR OUR NEIGHBORHOOD BASED CRIME PREVENTION PROGRAMS THAT OUR NEIGHBORHOODS APPLY FOR THROUGH OUR NEIGHBORHOOD INVESTMENT PLAN. AND KENT COUNTY SHERIFF'S DEPARTMENT TYPICALLY USES THEIR SHARE FOR TECHNOLOGY IMPROVEMENTS. THESE RESOURCES WILL ACTUALLY BE ALLOCATED IN THE UPCOMING NEIGHBORHOOD INVESTMENT PLAN PROCESS, WHICH WOULD START IN JANUARY OF 2027. OH, AND I SHOULD NOTE THAT WE ALSO OFF THE TOP, SINCE WE ADMINISTER THE GRANT, WE TAKE 10%, WHICH IS THE ALLOWABLE AMOUNT THROUGH THE PROGRAM. THANK YOU SO MUCH, MISS. QUESTIONS, COLLEAGUES.
PRETTY STANDARD ITEM. AND ACTUALLY, I THINK THE THREE OF US SERVED ON THAT SUBCOMMITTEE.
SO I'M GOING TO CALL THE QUESTION. ALL THOSE IN FAVOR. AYE. ANY OPPOSED ITEM CARRIES.
[2. Resolution authorizing execution of a $150,000 agreement with Mel Trotter Ministries for the personal belongings storage program]
THANK YOU. NEXT IS A RESOLUTION AUTHORIZING EXECUTION OF $150,000 FOR AN AGREEMENT WITH MEL TROTTER MINISTRIES FOR THE PERSONAL BELONGINGS STORAGE PROGRAM. SO MOVED. SUPPORT.MOVED AND SUPPORTED MISS BOHATSCH. THANK YOU. SO THIS IS A PROGRAM THAT WE STARTED BACK IN 2021 WHEN WE PILOTED PILOTED IT AND IT WAS HAS BEEN VERY SUCCESSFUL. THERE'S BEEN OVER 2000 INDIVIDUALS WHO HAVE TAKEN ADVANTAGE OF BEING ABLE TO STORE OF UNHOUSED PERSONS WHO'VE BEEN ABLE TO STORE MATERIALS OF VALUE, PERSONAL BELONGINGS IN A SAFE AND SECURE LOCATION. MEL TROTTER MINISTRIES HAS PARTNERED WITH US TO RUN THAT PROGRAM AND OPERATE IT ON, AND IT RUNS MONDAY THROUGH FRIDAY. TRADITIONALLY, WE HAVE USED ARPA FUNDS, THE TOTAL BUDGET BEING $200,000. THOSE RESOURCES ARE NO LONGER AVAILABLE. AND SO THE CITY BUDGETED IN OUR FY 27 BUDGET, $100,000 FROM THE REFUSE FUND ALSO HELPS. IT ALSO HELPS US SUPPORT, YOU KNOW, CLEANLINESS DOWNTOWN. AND THEN WE'VE BEEN SEEKING PARTNERS.
AND THE DOWNTOWN DEVELOPMENT AUTHORITY IS CONTRIBUTING $50,000. AND MEL TROTTER MINISTRIES HAS IS ANTICIPATING $25,000 FROM A PHILANTHROPIC DONOR. GREAT. THANK YOU FOR THAT. OVERVIEW. QUESTIONS, COLLEAGUES. COMMISSIONER. YES. THANK YOU, MADAM CHAIR. MISS HOWE SO IN TOTAL ANNUALLY AS THIS IS SOMETHING I'M HOPING THAT WE CAN CONTINUE TO SUPPORT FOR OUR UNHOUSED NEIGHBORS, WHAT'S THE TOTAL PRICE POINT OF PRICE FOR THIS PROGRAM? SO TRADITIONALLY WE HAVE BUDGETED 200 000. OKAY. WE'RE AT 175 RIGHT NOW. OUR INTENT IS THAT WE MIGHT FIND SOME ADDITIONAL PARTNERS ALONG THE WAY. BUT RIGHT NOW WE'RE LOOKING AT HOW I SHOULD SAY, MEL TROTTER MINISTRIES IS LOOKING AT HOW THEY MIGHT ADJUST THE TIMES THAT THEY'RE OPEN BY, YOU KNOW, MAYBE A FEW HOURS A DAY OR SOMETHING LIKE THAT TO BE ABLE TO ACCOMMODATE. THANK YOU SO MUCH. 75 I THINK THAT'S IMPORTANT COLLEAGUES TO THAT'S GOOD FOR ME TO FOR ALL OF US, I BELIEVE, TO KEEP IN MIND, AS WE THINK OF THE BUDGET, THAT'S GOOD TO HAVE A NUMBER. I KNOW IT WAS SORT OF A CHALLENGE WITH THE DDA AT FIRST. THEY YOU KNOW, C-SUITE SAID IT WASN'T, YOU KNOW, A PRIORITY. AND I'M THANKFUL THAT THEY DID END UP COMING TO THE TABLE TO HELP US WITH THIS. IT'S SORT OF A DIVIDE AND CONQUER OR DIVIDE AND HELP WITH THIS. AND I'M VERY THANKFUL TO HEAR THAT WE'RE DOING IT. THANK YOU.
GREAT. THANK YOU. HEARING AND SEEING. NO OTHER QUESTIONS. WE'LL GO AHEAD AND CALL THE QUESTION. ALL THOSE IN FAVOR. AYE. ANY OPPOSED? ITEM CARRIES. THANK YOU. NEXT ITEM NUMBER FOUR IS A RESOLUTION ACCEPTING. I'M SORRY. I'M GOING TO MISS YOU, LAURA. ITEM NUMBER THREE
[3. Resolution authorizing execution of a $100,000 agreement with Muse GR, LLC for design, curatorial, and project management services for the MLK Community Center placemaking project]
IS A RESOLUTION AUTHORIZING EXECUTION OF $100,000 AGREEMENT WITH MUSE G R LLC FOR DESIGN, CURATORIAL AND PROJECT MANAGEMENT SERVICES FOR THE MLK COMMUNITY CENTER PLACEMAKING PROJECT. DO I HAVE A MOTION? SO MOVED. SUPPORT. SUPPORT OF MISS CLAYPOOL. GOOD MORNING. FISCAL COMMITTEE. LAURA CLAYPOOL WITH THE PARKS DEPARTMENT. BEFORE YOU. AS A RESOLUTION AUTHORIZING AN AGREEMENT WITH LLC FOR $100,000 TO SUPPORT THE COMPLETION OF THE MLK COMMUNITY CENTER PROJECT, PLACEMAKING WAS IDENTIFIED DURING THE FACILITY PLANNING PROCESS AS ONE OF THE[00:05:03]
KEY COMPONENTS OF HONORING THE LEGACY OF THE SPACE, AND THEN ALSO CELEBRATING THE CULTURAL VIBRANCY AND LIVED EXPERIENCES OF THE SURROUNDING NEIGHBORHOOD. UCR IS A COMMUNITY EMBEDDED ORGANIZATION. THEY'VE BEEN A STRONG PARTNER WITH THE CITY ON OTHER PROJECTS, AND THEY HAVE A LOT OF EXPERIENCE IN PUBLIC ART, CURATION, DESIGN, AND THEN ENGAGEMENT WITH YOUTH. SO UNDER THIS AGREEMENT, THEY WILL MANAGE THE FULL PUBLIC ART PROCESS, INCLUDING DEVELOPING A CURATED ART PLAN AND CONDUCTING COMMUNITY OUTREACH, FACILITATING A PUBLIC ARTIST CALL, COORDINATING FABRICATION AND INSTALLATION OF THE ART, AND THEN ALSO ENSURING QUALITY STANDARDS ARE MET TO THE CITY'S ART, PUBLIC ART AND MEMORIAL POLICY. SO THIS AGREEMENT ALLOCATES $30,000 TOWARDS THE PROJECT MANAGEMENT SERVICES AND 70,000 FOR ARTWORK, FABRICATION AND PAYMENT TO THE ARTISTS. AND THIS WORK ADVANCES OUR COMMITMENT TO MEANINGFUL, COMMUNITY ROOTED STORYTELLING IN THAT SPACE. GREAT. THANK YOU, MISS CLAYPOOL. QUESTIONS, COLLEAGUES, I'LL JUST SAY WE HAVE SO MUCH PUBLIC ART AND ENGAGEMENT THAT IS HAPPENING RIGHT NOW, AND I'M GLAD TO SEE IT. NOT JUST CERTAIN TIMES OF THE YEAR. WE HAVE ART PRIZE AND SOUTH PRIZE, AND THEN WE HAVE THE GUN MEMORIAL WORK THAT WE'RE DOING, THE THIRD WARD MURAL PROJECT. AND SO WHEN WILL THE TIME FRAME BE FOR THIS? MISS CLAYPOOL SO THE CALL FOR ARTISTS WILL GO OUT YET THIS FALL. AND WE'RE LOOKING FOR WORK TO BE COMPLETED AND INSTALLED BY THE END OF NEXT SUMMER. OKAY. I THINK THE ONLY THING I WOULD SAY I LOVE THIS PROJECT, I LOVE THE SPACE WAS ABLE TO GO TO THE AFRICAN AMERICAN ARTS AND MUSIC FESTIVAL. IT'S JUST THE TIMING BECAUSE THERE ARE A LOT OF ASS OUT TO COMMUNITY COLLEAGUES. SO AND I KNOW THAT, YOU KNOW, STEPHEN IS VERY FAMILIAR WITH, YOU KNOW, AS YOU SAID, HE'S WORKED ON A NUMBER OF PROJECTS FOR US. I JUST CAN I THINK SOMETIMES RIGHT NOW IT'S BEEN A LITTLE CONFUSING BECAUSE WE HAVE SO MANY SORT OF CALL FOR ARTISTS HAPPENING. SO IF WE COULD TAKE A LOOK AT THAT TO MAKE SURE THAT THIS PROJECT WILL GET THE FOCUS, JUST LIKE ALL THE OTHER PROJECTS. SO THAT'S JUST A TINY BIT OF FEEDBACK. I APPRECIATE THAT.THANK YOU, THANK YOU. I DIDN'T CALL THE QUESTION THOUGH, DID I? ALL THOSE IN FAVOR? AYE. ANY
[4. Resolution accepting a $300,000 grant and authorizing an agreement with the Grand Rapids Community Foundation for the integration of T2C Studio services with the Challenge Scholars program]
OPPOSED ITEM CARRIES. THANKS SO MUCH. ITEM NUMBER FOUR IS A RESOLUTION ACCEPTING $300,000 GRANT AND AUTHORIZING AN AGREEMENT WITH THE GRAND RAPIDS COMMUNITY FOUNDATION FOR THE INTEGRATION OF THE T2C STUDIO TWO COLLEGE THROUGH COLLEGE SERVICES WITH THE CHALLENGE SCHOLARS PROGRAM. DO WE HAVE A MOTION? SO MOVED. SUPPORT MOVED AND SUPPORTED MISS HARRIS. GOOD MORNING. THANK YOU. COMMISSIONERS, APPOINTED OFFICIALS AND STAFF. SHANNON HARRIS, EXECUTIVE DIRECTOR OF OUR COMMUNITY'S CHILDREN. AND THIS IS A RENEWAL GRANT FROM OUR PARTNERS AT THE GRAND RAPIDS COMMUNITY FOUNDATION. THIS GRANT WILL ALLOW OUR COMMUNITY, CHILDREN, STAFF THAT WORK IN THE TDC STUDIO, GRAND RAPIDS CENTER FOR COLLEGE SUCCESS, THIRD FLOOR OF THE GRAND RAPIDS PUBLIC LIBRARY DOWNTOWN TO DELIVER CRITICAL POST-SECONDARY ADVISING TO A SUBSET OF THE CLASS OF 2027 AND 2028 AT UNION HIGH SCHOOL.THESE YOUNG PEOPLE THAT WILL RECEIVE THESE SERVICES ARE CALLED CHALLENGE SCHOLARS, AND THEY'LL RECEIVE FUNDING DIRECTLY FROM THE FOUNDATION THAT WILL ASSIST THEM WITH THE COSTS ASSOCIATED WITH DEGREE ATTAINMENT. GREAT. THANK YOU SO MUCH. AND I REMEMBER WHEN YOU WERE KICKING OFF ALL THIS WORK WITH TWO COLLEGE THROUGH COLLEGE AND JUST THE EXCITEMENT OF, YOU KNOW, HAVING THAT PUBLIC SPACE. AND SO THIS IS A, I THINK THIS IS A REALLY IMPACTFUL CONNECTION AND PARTNERSHIP. AND SO I WAS GLAD TO SEE IT ON THE AGENDA.
COMMENTS, COLLEAGUES. OKAY. HEARING AND SEEING NONE. ALL THOSE IN FAVOR? AYE. ANY
[5. Resolution approving three-year contract awards for health insurance administration through Priority Health, prescription drug insurance administration through DisclosedRx, vision insurance administration through Blue Cross Blue Shield of Michigan, and dental insurance administration through Delta Dental with an administration cost not to exceed $6,539,250]
OPPOSED? ITEM CARRIES. THANK YOU. ITEM NUMBER FIVE IS A RESOLUTION APPROVING A THREE YEAR CONTRACT AWARDS FOR HEALTH INSURANCE ADMINISTRATION THROUGH PRIORITY HEALTH, PRESCRIPTION DRUG INSURANCE ADMINISTRATION THROUGH DISCLOSED ARCS, VISION INSURANCE ADMINISTRATION THROUGH BLUE CROSS BLUE SHIELD OF MICHIGAN, AND DENTAL INSURANCE ADMINISTRATION THROUGH DELTA DENTAL, WITH ADMINISTRATION COSTS NOT TO EXCEED $6,539,250. DO YOU HAVE A MOTION? SO MOVED. SUPPORT. MR. OOSTERBAAN. GOOD MORNING.I'M MICHAEL FROM THE CITY'S EMPLOYEE BENEFITS MANAGER, AND I'M HERE TODAY ON BEHALF OF THE HUMAN RESOURCES DEPARTMENT TO ASK FOR APPROVAL FOR THREE YEAR CONTRACTS FOR OUR CURRENT THIRD PARTY ADMINISTRATORS, FOR OUR HEALTH INSURANCE PLAN. WE'VE BEEN WORKING WITH THESE ORGANIZATIONS FOR AT LEAST THE LAST THREE YEARS, AND WE WERE ABLE TO HAVE A ROBUST RFP PROCESS THIS YEAR TO LOOK FOR THE ORGANIZATIONS THAT CAN PROVIDE US WITH THE BEST OVERALL VALUE. AND AFTER THE REVIEW WAS COMPLETED, WE DECIDED THAT THE THE SAME ORGANIZATIONS THAT WE CURRENTLY WORK WITH ARE THE ONES THAT WE SHOULD CONTINUE TO WORK WITH FOR THE NEXT THREE YEARS. GREAT. THANK YOU SO MUCH. QUESTIONS ON THIS ITEM, COLLEAGUES, I KNOW THAT THERE WAS A LOT OF WORK FROM THOSE THREE YEARS AGO. SO AND, YOU KNOW, SOMETIMES IT MAKES SENSE TO MOVE, SOMETIMES IT DOESN'T. SO WE WILL GO AHEAD AND CALL THE QUESTION. ALL
[6. Resolution authorizing a budget substitution of $400,047.39 within the Capital Improvement Fund to align City match funding with the Michigan Natural Resources Trust Fund (MNRTF) Grant Program for the River Edges Trail – Leonard to Ann]
THOSE IN FAVOR. AYE. ANY OPPOSED ITEM CARRIES. THANK YOU SO MUCH. ITEM NUMBER SIX IS A RESOLUTION AUTHORIZING A BUDGET SUBSTITUTION OF 400 $400,047.39 WITHIN THE CAPITAL IMPROVEMENT FUND TO ALIGN CITY MATCH FUNDING WITH THE MICHIGAN NATURAL RESOURCES TRUST FUND[00:10:02]
GRANT PROGRAM FOR THE RIVER EDGES TRAIL. THIS IS THE LEONARD TO ANN. DO YOU HAVE A MOTION? SO MOVED. SUPPORT MISS CLAYPOOL. ALL RIGHT. GOOD MORNING AGAIN, LAURA CLAYPOOL FROM THE PARKS DEPARTMENT. SO THIS ITEM AND THE FOLLOWING ITEM ARE BOTH RELATED TO THE LEONARD TO ANN TRAIL. AND JUST AS A REMINDER, THAT'S A THREE QUARTER OF A MILE CONNECTION THAT IS EVENTUALLY GOING TO CLOSE A VERY CRITICAL GAP FROM DOWNTOWN GRAND RAPIDS UP THROUGH RIVERSIDE PARK AND ULTIMATELY TO THE WHITE PINE TRAIL. SO THIS FIRST ONE IS TO RESOLUTION AUTHORIZING THE SUBSTITUTION WITHIN THE CAPITAL IMPROVEMENT FUND TO SUPPORT SEGMENT TWO OF THE LEONARD TO ANNE TRAIL. THIS SEGMENT IS PARTIALLY FUNDED THROUGH THE MICHIGAN NATIONAL I'M SORRY, MICHIGAN NATURAL RESOURCE TRUST FUND GRANT, WHICH REIMBURSES 25% OF ELIGIBLE COSTS AND CONSTRUCTION COSTS. AND SO TO ALIGN OUR CAPITAL DOLLARS WITH THE DNR ACCOUNTING CODE STRUCTURE REQUIREMENT, THIS IS JUST AN ADMINISTRATIVE SWAP OF ONE CODE FOR ANOTHER. SO IT'S KIND OF A CLEANUP ITEM. SO WE CAN MOVE FORWARD AND GET THAT WORK ON THE TRAIL WRAPPED UP YET THIS FISCAL YEAR. THANKS SO MUCH. QUESTIONS, COLLEAGUES.HEARING AND SEEING NONE. ALL THOSE IN FAVOR? AYE. ANY OPPOSED? ITEM CARRIES. THANK
[7. Resolution authorizing a Budget Substitution of $250,000 for the Leonard to Ann Trail Project]
YOU. AND LIKE YOU SAID, WE'LL BE HERE FOR THIS NEXT ONE, WHICH IS A RESOLUTION AUTHORIZING A BUDGET SUBSTITUTION OF 200 5000 FOR THE LEONARD TO ANN TRAIL PROJECT. I HAVE A MOTION. SO MOVED. SUPPORT. MOVED AND SUPPORTED AND I'M GOING TO CALL THAT. ALL THOSE IN FAVOR. AYE. ANY OPPOSED ITEM CARRIES. THANKS MISS. THANK YOU. ITEM[8. Resolution authorizing a Budget Substitution in the amount of $770,000 for the Market Ave Sewer Abandonment]
NUMBER EIGHT IS A RESOLUTION AUTHORIZING A BUDGET SUBSTITUTION IN THE AMOUNT OF $770,000 FOR THE MARKET AVENUE SEWER ABANDONMENT. SO MOVED. SUPPORT MOVED IN SUPPORT OF MR. RUDD'S. YOU'VE BEEN WAITING IN THAT LITTLE SEAT, I LOVE IT. GOOD MORNING. COMMISSIONERS AND FISCAL COMMITTEE BRING BEFORE YOU A RESOLUTION TODAY REQUESTING A BUDGET SUBSTITUTION. REQUESTING 770,000 FROM THE SEWER EIP FUNDS. THIS IS TO PROPERLY ABANDON THE SEWER THAT WAS RELOCATED FOR THE AMPHITHEATER PROJECT. A LARGE PORTION OF THIS SEWER STRETCHES UNDERNEATH US. 131 THIS PROJECT WILL REQUIRE US TO INSTALL BULKHEADS, REMOVE SLUDGE AND FLOWABLE, FILL IT TO SECURE THAT SECTION OF 131 AND MAKE SURE THAT IT IS SECURE. QUESTIONS. I JUST HAD A QUESTION. I KNOW THERE'S A LOT OF CONVERSATION BECAUSE I FEEL LIKE PEOPLE HAVE ASKED ME THIS, YOU KNOW, THE MDOT'S REIMAGINING OF. 131. I MEAN, I THINK THAT'S PROBABLY GOING TO TAKE A MINUTE. SO IT'S NOT LIKE THIS PROJECT COULD ALIGN TO ANYTHING THAT THEY'RE DOING WITH THAT. IS THAT CORRECT? IS THAT IS THAT MY CORRECT ASSUMPTION TO SAY, BECAUSE I FEEL LIKE THAT PROJECT IS QUITE ALIGNED WITH FUTURE PROJECTS, IT WILL ALIGN WITH FUTURE PROJECTS. OKAY. ALL RIGHT. YOU HEARD IT HERE FIRST, PEOPLE.OKAY. ALL THOSE IN FAVOR? AYE, AYE. ANY OPPOSED? ITEM CARRIES. THANKS SO MUCH. ITEM NUMBER
[9. Ordinance Amending Section 1 of the Budget Ordinance 2026-11 for Fiscal Year 2027 (Amendment No. 03)]
NINE IS THE ORDINANCE. ORDINANCE. ORDINANCE AMENDING SECTION ONE OF THE BUDGET ORDINANCE 2026-11 FOR FISCAL YEAR 2027. AMENDMENT NUMBER THREE TO HAVE A MOTION. SO MOVED. SUPPORT. MISS CLAIRE, IS THERE ANYTHING. GOOD MORNING, COMMISSIONERS. WE JUST HAVE A VARIETY OF GRANTS. I'LL GO THROUGH THEM QUICK. THE THE CHIP LEAD HAZARD CONTROL GRANT.MICHIGAN INDIGENT DEFENSE FUND. WE ALSO HAVE THE DRUG SOBRIETY COURT GRANT NUMBER FOUR AND FIVE. WE GET INTO APPROPRIATING OUR BOND SERIES 2026 WE JUST ISSUED. SO WE HAVE AN APPROPRIATION GOING TOWARDS THE REMAINING THE REMAINING WORK ON SCRIBNER. THIS IS NOT YOU'LL SEE FUTURE APPROPRIATIONS, BUT STARTING TO PUT THAT MONEY TO WORK. SO TOWARDS SCRIBNER. AND ALSO NUMBER FIVE IS THE FIRE TRAINING CENTER FACILITY APPROPRIATING 11.3 MILLION OVER THERE. THEN WE HAVE SMART GRANTS LIKE THE SOBRIETY COURT EXPANSION PROGRAM. AUTO THEFT PREVENTION AUTHORITY GRANT. AND THEN, YOU KNOW, MISS CLAY PULLS UP HERE TALKING ABOUT PARKS AND REC. BUT WE HAVE THE MICHIGAN NATURAL RESOURCES TRUST FUND GRANT APPROPRIATION FOR RIVER EDGE TRAIL. LEONARD AN WHICH WAS DISCUSSED 61ST DISTRICT COURT, A SUBSTANCE ABUSE AND MENTAL HEALTH SERVICES ADMINISTRATION GRANT. SO ALL IN ALL, MAJORITY OF THEM ARE GRANTS AND APPROPRIATING BOND FUNDS. AND THEN OUR CONTINGENT BALANCE REMAINS UNCHANGED AT 1.5 MILLION. THANK YOU, MISS KAREN. QUESTIONS, COLLEAGUES. ALL THOSE IN FAVOR? AYE. ANY
[10. Bid List Resolution for September 22, 2026]
OPPOSED? ITEM CARRIES. THANK YOU. NEXT IS OUR BID LIST RESOLUTION ITEM NUMBER TEN FOR SEPTEMBER 22ND, 2026. SO MOTION SO MOVED. SUPPORT AND SUPPORTED MISS KAREN. YEAH. PRETTY RUN OF THE MILL ITEMS ON THE BID LIST. NOTHING TOO EXCITING. IF YOU DO HAVE QUESTIONS, MYSELF OR THE DEPARTMENTS ARE HERE TO ANSWER THEM. GREAT. THANK YOU. ALL THOSE IN FAVOR? AYE. ANY[11. Comptroller's Warrant Report for the period of August 25, 2026 through September 7, 2026 in the amount of $23,778,750.89]
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OPPOSED? ITEM CARRIES. AND NEXT, THAT TAKES US TO OUR REPORTS. AND THE FIRST ONE IS OUR CONTROLLERS WARRANT REPORT FOR THE PERIOD OF AUGUST 25TH, 2026 THROUGH SEPTEMBER 7TH, 2026, AND THE AMOUNT OF $23,778,750.89. AND I'LL TURN IT OVER TO OUR DEPUTY CONTROLLER. GOOD MORNING, COMMISSIONERS AND EVERYONE. AS SHARED, OUR PAYMENTS ISSUE TOTALED 23,778,000, INCLUDING 6,400,000 FOR PAYROLL, 127,000 FOR INCOME TAX WARRANT IN THAT WERE 251 INCOME TAX REFUNDS AND 1036 ACCOUNTS PAYABLE TAX ISSUES. AND THAT'S OUR REPORT.THANK YOU SO MUCH. THANK YOU. THAT REPORT IS RECEIVED AND FILED. AND NEXT WE'LL TURN OVER
[12. Treasurer's Report for the Period of August 26, 2026, through September 8, 2026]
TO OUR TREASURER'S REPORT FOR THE PERIOD OF AUGUST 26TH, 2026 THROUGH SEPTEMBER 8TH, 2026.MR. TREASURER. GOOD MORNING COMMISSIONERS, WITH OUR REPORT TODAY, WE DID SEE THAT THE FED RAISED THE RATE BY 0.25%. SO WE'RE UP TO 3.75 TO 4%. IT WAS A UNANIMOUS VOTE. IT WAS A 120 VOTE ON THAT, WHICH WAS FOR ME MORE ENCOURAGING THAT THEY'RE THEY'RE ACTUALLY SETTLING ON THINGS THAT ARE THEY BELIEVE THROUGH THE ECONOMIC DATA, THROUGH WHAT'S HAPPENING, THAT THEY'RE GOING TO START MAKING SOME MOVES. IT IS NOW PREDICTED THAT THEY'RE TALKING ABOUT ANOTHER ONE BEFORE THE END OF THE YEAR, AND POSSIBLY TWO MORE INTO 2027. THE REASON BEING IS THAT THEIR MIDPOINT RIGHT NOW OF WHAT THEY'RE THINKING THAT THE RATE SHOULD BE IS 4.1% OR SLIGHTLY HIGHER OF THE PARTICIPANTS IN THIS TYPE OF POOL, THE 1816 OF THE 18 ARE LOOKING AT 4.125 TO 4.375% FOR THAT FOR FED FUNDS RATE. SO OBVIOUSLY, IF THEY'RE ONLY HIKING IT BY A QUARTER OF A POINT, THAT MEANS WE'RE PROBABLY GOING TO SEE 2 OR 3 MORE POSSIBLY SHOWING UP. BUT AGAIN, THEY ARE DATA DRIVEN. SO IT ALL DEPENDS ON WHAT THE ECONOMIC DATA IS. IT DEPENDS ON WHAT'S HAPPENING IN THE THE GLOBAL SITUATIONS THAT WE'RE FACING, AS WELL AS WHAT WE'RE FACING AT HOME. ONE THING I RAN LAST WEEK IS I DROVE MY PAST BY MYERS ON KALAMAZOO IN 28 AND SAW THE GAS AT $4.99. SO I, I, I WILL SAY THAT I CAN GIVE A SHOUT OUT TO THE STATE OF MICHIGAN BECAUSE THEY DID SOMETHING FAVORABLE FOR US, AND THAT IS THAT THEY FIXED THE TAX RATE ON OUR GAS. IF THEY HADN'T FIXED THE TAX RATE, THAT PRICE WOULD HAVE GONE EVEN HIGHER BECAUSE AS THE COSTS GO UP, OBVIOUSLY A PERCENTAGE OF SOMETHING IS GOING TO CONTINUE TO INCREASE TAX AMOUNT THAT YOU WOULD PAY AT THE PUMP. SO THAT'S SOMETHING THAT TOOK EFFECT JANUARY 1ST OF 2026. SO FOR OUR STATE, THANK YOU TO OUR STATE FOR FOR EXAMINING THAT. SO WE'RE NOT PAYING EXTRA ON TOP OF THAT. BUT AGAIN, IT TAKES TIME FOR TO GET BACK. THERE ARE A LOT OF EXTENUATING FACTORS FROM THE FACT THAT WE'RE SWITCHING OVER FROM OUR SUMMER GAS MIX TO OUR WINTER GAS MIX, TO THE POINT THAT WE HAD A REFINERY SHUT DOWN FOR A WEEK DOWN IN IN ILLINOIS THAT CAUSED A SUPPLY SHORTAGE. SO THERE'S SOME SHORT TERM THINGS THAT ARE HAPPENING, BUT IT'S THERE'S ALSO THE LONG TERM. SO WE'RE FEELING MORE. THE SHORT TERM RIGHT NOW IS THAT PRICE SPIKED UP THIS MORNING AS I DROVE BY A DIFFERENT GAS STATION. IT WAS DOWN TO 48474. SO THAT'S A QUARTER COMING BACK DOWN. IT'S JUST WE'RE GOING TO FEEL THESE BECAUSE MOST MOST OF OUR SOCIETY IS, IS CHECK BY CHECK, RIGHT? SO AS YOU GET YOUR PAYCHECK, YOU'RE SPENDING IT ON YOUR GAS, FILLING THE TANK, GETTING YOUR GROCERIES, PAYING YOUR RENT, PAYING YOUR UTILITIES. AND THERE'S MORE AND MORE PRESSURE ON THAT. WE DO SEE THAT CPI IS AT 3.4%. OUR PRODUCER PRICES ARE AT 5.4%.
AND WHEN WE LOOK AT THESE NUMBERS, THE FED TARGET IS 2%. WELL WE HAVEN'T BEEN 2% INFLATION TARGET FOR FIVE YEARS. SO SOMETHING YOU KNOW, SOMETHING HAS TO GIVE WHETHER THEY'RE GOING TO START HIKING RATES MORE IN ORDER TO START TO TRY TO BRING THAT INFLATION RATE DOWN. BUT THERE'S OTHER ECONOMIC DATA THAT COULD POTENTIALLY IMPACT THAT. I'M GLAD THAT THEY'RE DATA DRIVEN AS MUCH AS JUST LISTENING TO PEOPLE CHIRPING IN THEIR EAR, BECAUSE THAT THAT CAUSES BAD DECISIONS. OUR PORTFOLIO STANDS AT $735 MILLION. WE'RE EARNING 3.26%. BUT IN A RISING RATE ENVIRONMENT OR IN THIS ENVIRONMENT, THERE WERE WERE PROJECTED TO BE IN. WE'RE ANALYZING THE ASSETS THAT WE HOLD TO SEE IF THERE'S SOMETHING WE SHOULD BE SELLING AND REPOSITIONING, BECAUSE RIGHT NOW I'M LOOKING AT THREE SECURITIES THAT ARE ABOUT $35 MILLION, THAT IF WE SOLD THEM, WE WOULD SELL THEM AT A LOSS OF $120,000, BUT WE WOULD GAIN AN ADDITIONAL $750,750,000 IN ANNUAL REVENUE. SO WE'RE LOOKING TO SEE WHAT MAKES SENSE TO REPOSITION SOME OF THE SECURITIES WE'RE HOLDING TO GO OUT FOR A HIGHER INTEREST RATE, AND ALSO CONTINUE TO HAVE THE SAFETY, LIQUIDITY AND YIELD OUR
[00:20:03]
THREE BASIC TENANTS FOR OUR INVESTMENT PROGRAM. SO THOSE ARE THE TYPES OF THINGS THAT WE'RE DOING RIGHT NOW IS LOOKING FOR OPTIONS THAT WE HAVE TO REPOSITION SOME OF OUR INVESTMENTS TO ACTUALLY EARN A HIGHER RATE FOR US. THANK YOU SO MUCH, MR. TREASURER. ALWAYS GOOD WITH THE BIT OF THE THE MACRO AND THE MICRO, BECAUSE I DROVE BY THOSE GAS STATIONS TOO, AND I WAS REMINDED THAT I'M LIKE, GOSH, FIVE, OH, THIS IS $5, YOU KNOW? AND I REMEMBER DRIVING IN ALGER HEIGHTS WHEN THERE WAS A GAS STATION WHERE THE LIBRARY WAS AND GRANDPA TELLING ME IT'S 99. THAT'S THAT'S GETTING HIGH. I KNOW YOU WEREN'T BORN MARSHALL. OKAY.YOU KNOW. I IT SOUNDS LIKE YOU'RE. LET ME RELIVE THIS. YOUR GRANDFATHER AND MY GRANDFATHER WERE ONE AND THE SAME BECAUSE MINE KEPT A LITTLE LOG IN HIS. YEAH. THE PRICE OF MILK. THEY DID. WHAT WAS THE PRICE OF A GALLON OF MILK? A POUND OF GROUND BEEF AND GAS.
YEP. SO YOU HAVE THAT. RIGHT. SO THERE'S BEEN THESE CHANGES IN THE BOND MARKET. THERE'S BEEN OBVIOUSLY CHANGES AT THE GAS TANK. AND THEN, YOU KNOW, WHAT'S GOING TO HAPPEN IS, YOU KNOW, WE'RE SEEING PEOPLE WHO HAVE, YOU KNOW, CONTINUED TO USE CREDIT, CREDIT CARDS. THOSE RATES WILL BE WITH WITH THESE CHANGES ARE GOING TO ADJUST. AND I THINK A LOT OF TIMES PEOPLE DON'T UNDERSTAND. THEY'RE LIKE, OH, THE FED MEETS, BUT THEN THAT'S GOING TO BE THAT. AND ESPECIALLY WORKING WITH SMALL BUSINESS OWNERS WHERE REFINANCE, BUT SOMETIMES THEY'RE ALSO USING CREDIT CARDS TO FINANCE AND THEY WILL SEE THAT INCREASE AS WELL FOR THAT BORROWING. AND THINK OF ANYBODY THAT STILL HAS A VARIABLE RATE MORTGAGE. ABSOLUTELY. BECAUSE NOW YOU SHOULD SEE THAT TICKING UP AGAIN AND HIGHER PAYMENTS. YEP. ABSOLUTELY. WELL THAT REPORT IS RECEIVED AND FILED AND IT IS. 851. AND WE WILL
* This transcript was compiled from uncorrected Closed Captioning.