[00:00:03]
CHECK IS GO.[I. CALL TO ORDER]
EVERYONE.UM, WE ARE HERE AND, AND WELCOME.
WE ARE HERE FOR THE FINANCE COMMITTEE OF THE BOARD OF TRUSTEES AT THE GALVESTON WARS.
ANGIE, MAY WE HAVE A ROLL CALL, PLEASE? YES, MA'AM.
CHAIRMAN, SHEILA LID STONE HERE.
COMMITTEE MEMBER JIM YARBOROUGH.
WE ALSO HAVE CHAIRMAN VIC PEARSON.
TRUSTEE MAYOR CRAIG BROWN, VICE CHAIRMAN JEFF PATTERSON BREAKFAST.
WHAT YOUR, WHAT'S YOUR NAME AT THAT? WE HAVE ROGER AND ANTHONY BROWN.
DID I NAMED EVERYBODY? CHELSEA WANTS TO DO THIS.
SO WE HAVE A, A QUORUM, UM, THE INVITATION PLEASE BY CLER AND JOHN CHERRY.
DEAR HEAVENLY FATHER, I WANT TO ASK YOU TO COME INTO THIS MEETING AND GIVE THESE MEN AND WOMEN THE KNOWLEDGE AND COURAGE TO BE ABLE TO MAKE THE HARD DECISIONS THAT NEED TO BE MADE, THE EASY DECISIONS THAT SEEM TO BE REAL EASY, BUT IT CAN SOMETIMES BE TOUGH.
JUST BE WITH EACH AND EVERY ONE OF 'EM.
THANK YOU FOR ALL THE WORK THAT THEY HAVE DONE, ALL THE WORK THAT THEY WILL DO, AND ALL THE BLESSINGS THAT COME FROM THIS PORT FOR THE COMMUNITY, FOR THE PEOPLE, AND FOR EACH AND EVERY ONE OF US.
ARE THERE ANY CONFLICTS OF INTERESTS THAT NEED TO BE DECLARED AMONG MEMBERS OF THE COMMITTEE OR ANYONE ELSE? SEEING NONE.
[II.A. Approval of Minutes of the Finance Committee]
BUSINESS APPROVAL OF THE MINUTES OF THE FINANCE COMMITTEE FROM LAST MONTH.DO I HAVE A MOTION? I'LL MOVE SECOND.
MOTION BY TRUSTEE YARBOROUGH AND SECONDED BY TRUSTEE GONZALEZ.
UH, ANY QUESTIONS, COMMENTS? ALL THOSE IN FAVOR SAY AYE.
AND THEN COMMENTS FROM THE PUBLIC.
WE DO NOT HAVE ANY COMMENTS FROM THE PUBLIC TODAY.
[III.A. CFO REPORT/CONSENT AGENDA]
UH, ITEM THREE, THREE A IS THE CFO REPORT, CONSENT AGENDA.OKAY, BEFORE I GET STARTED, ON THE TABLE IS PAGE 14 OF THE CFO REPORT.
PLEASE REMOVE PAGE 14 FROM YOUR BOOK IN THE CFO REPORT AND REPLACE IT WITH THIS ONE.
SOMEHOW WE GAVE YOU MARCH INSTEAD OF EIGHT, AND WHEN IT'LL JUST LEAVE IT THAT.
BUT IT'S, UH, BUT ANYWAY, THAT, IF Y'ALL WOULD DO THAT, I WOULD APPRECIATE IT GREATLY.
FOR THE MONTH OF APRIL, APRIL SAW US WITH 5.8 MILLION IN OPERATING REVENUES, WHICH YIELDED 1.3 MILLION IN NET INCOME.
UH, WE ALSO RECEIVED, UH, A MILLION DOLLAR POSITIVE CASH FLOW FROM OPERATIONS DURING THE COURSE OF THE MONTH.
UH, REVENUES AND OPERATING EXPENSES BEFORE DEPRECIATION WERE RIGHT ON TARGET WITHIN THE SMALL VARIANCE.
AND THEN NON-OPERATING INCOME INCOME.
THERE AGAIN, UH, PRIMARILY DUE TO TIMING OF GRANTS WAS OFF $3.7 MILLION FOR THE MONTH.
AND THAT'S STRICTLY A TIMING ISSUE.
WHAT IS ONE TEXT STOCK GRANTS? YES, THAT'S THAT.
UM, WE ACTUALLY, WELL, I'LL GET INTO WHERE WE ARE ON THE
YOU, AS WE GET INTO THE YEAR DATE, UM, LOOKING AT WHERE WE ARE ON CASH FLOW HERE, HERE IS THE, UH, FINANCIAL SUMMARY FOR THE MONTH.
YOU SEE THAT WE'RE RUNNING RELATIVELY CLOSE EVERYWHERE, UH, EXCEPT FOR THE NON-OPERATING INCOME.
AND THAT'S, THAT'S THE, THAT'S WHERE THE TECH STOCK GRANT AND OTHER GRANT FUNDS WOULD COME IN.
UH, CASH FLOW FROM OPERATIONS, 1 MILLION, OUR CAPITAL EXPENDITURES FOR THE MONTH, 13.5 MILLION.
[00:05:02]
NOW, A GOOD BIT OF THAT WAS ALSO WAS, IT WAS A COMBINATION.A LARGE PORTION OF THAT WAS DEBT RELATED AS WORK ON THE SIX, UH, CT 16 COMPLEX PROGRESSES.
WHAT, IS THERE ANY PARTICULAR REASON WHY IT'S DOWN SO MUCH FROM WHAT WE PROJECTED OR JUST BEHIND SCHEDULE? WHETHER ARE WE WELL BUILDING? YEAH.
WHAT YOU'LL SEE, WHAT I, WHAT I SAW WAS, UH, I HAD A DAY, I HAD A $12 MILLION DAY AND THE FIRST WEEK IN MAY.
SO IT'S, IT'S JUST SLIGHT TIMING DIFFERENCES.
UH, BUT, AND OF THAT, I THINK THERE WAS AROUND 10 MILLION OF IT RELATED TO DEBT.
UM, THE WATERFRONT, THE GARAGE, AND THE TERMINAL THAT HAPPENED THAT WE'LL SEE.
YEAH, I, I WAS JUST INTERESTED IF WE WERE INTENTIONALLY PUSHING PROJECTS OR WHETHER IT WAS JUST SOMETHING NORMAL.
IF THAT SOUND LIKE NORMAL PROCESS, IT'S JUST THEM GETTING THE BILLS TO US AND THAT'S GETTING A PROCESS.
IT, IT TAKES A FEW DAYS FOR US TO GO THROUGH, ESPECIALLY AN INVOICE OF THAT SIZE.
WE WANNA BE, WE WANT TO BE SURE WHAT WE'RE LOOKING AT.
HERE'S OUR FINANCIAL REVENUES, UH, YEAR TO DATE.
WELL, NOT, EXCUSE ME, MONTH TO DATE.
IF ANYONE HAS ANY QUESTIONS, WE'D BE HAPPY TO ANSWER THEM.
IF NOT, WE'LL PROCEED ON THIS.
ARE, HERE'S OUR FINANCIAL EXPENSES.
ARE THEY NOT? TOTAL OPERATING EXPENSES? TOTAL OPERATING.
THEY'RE A LITTLE ABOVE BUDGET, ACTUALLY A LITTLE ABOVE BUDGET.
WELL, IT LOOKS LIKE A COMMENT, I GUESS LOOKS LIKE OUR, WE'VE DONE A GOOD JOB OF HIRING.
SO OUR SALARIES, OUR SALARIES ARE CATCHING.
WE ARE STARTING TO, WE ARE STARTING TO DO THAT.
I WAS, I WAS LOOKING AT MY SHEET AND I WAS, EXCUSE ME.
THE REASON I WAS CONFUSED WAS I STILL WAS LOOKING AT THIS PAGE ON MY BOOK.
YEAR TO DATE, 29.6 MILLION IN, UH, OPERATING REVENUES FOR THE YEAR.
WE ARE SEEING 15.6 MILLION IN YEAR TO DATE NET INCOME.
WE RUNNING A $10.3 MILLION CASH FLOWS FROM OPERATIONS SO FAR THIS YEAR.
UH, REVENUES ARE DOWN TWO, AROUND 200,000 AND EXPENSES ARE DOWN ABOUT 400,000.
SO WE'RE RUNNING FAIRLY CLOSE OVERALL TO OUR BUDGET TILL YOU GET DOWN TO THE GRANTS.
ON, UH, HERE YOU SEE OUR CASH FLOWS WERE 10.2 MILLION AND OUR CAPITAL EXPENDITURES YEAR TO DATE WERE $63.5 MILLION IN CAPITAL EXPENDITURES SO FAR SINCE THE FIRST OF THE YEAR THROUGH APRIL.
SO WE ARE, WE ARE MOVING FORWARD WITH ALL THESE CAPITAL PROJECTS.
WE ARE BURNING THROUGH THE CASH, BUT A LOT OF THAT CASH IS DEBT.
UM, I WANT TO, IF YOU DON'T MIND, I'D LIKE TO KIND OF GO BACK.
THIS IS TO, UH, YOUR JANUARY REPORT, WHICH REPORTED ON THE END OF THE YEAR, BASICALLY MAY LAST JANUARY.
UM, YOU HAD OUR, UM, NET OPERATING INCOME AT 30.3 MILLION AND THEN WHEN THE, UH, AUDITED FINANCE AND AND NON AUDITED.
AND THEN WHEN THE FI AUDITED FINANCIAL REPORT CAME OUT, IT SHOWED AT 29 1 OH 9 MILLION, WHICH IS ABOUT A MILLION, TWO OR THREE DIFFERENT I'S JUST WONDERING IF YOU COULD ELABORATE A LITTLE BIT ON WHAT CAUSED THE DIFFERENCE.
AND THEN WE BROUGHT THIS OUT WHEN WE PRESENTED THE FINANCIALS, BUT IT IS REALLY TWO MAJOR THINGS THAT I MENTIONED THAT WE HAD TWO, TWO ADJUSTMENTS WE HAD TO MAKE WHEN I PRESENTED THAT IN JANUARY.
WE HAD TO, WE HAD TO ADJUST FOR GASB 1 0 1.
SO GS B 1 0 1 IS THE ACCRUAL OF, UH, HOST EMPLOYMENT.
WELL, IT IS BASICALLY VACATION AND SICK TIME FOR US.
BUT YOUR LIABILITY FOR IT AND THE LIABILITY FOR IT.
WE, WE HAD TO GO BACK AND ADJUST UNDER GSB 1 0 1 AND GAVE YOU
[00:10:01]
VERY, VERY SPECIFIC INSTRUCTIONS ON WHAT ALL HAD TO BE INCLUDED IN THAT.WE WERE INCLUDING THE, THE, THE TIME, THE, THE AMOUNT AT, AT THE END OF THE YEAR BASED UPON THE CURRENT SALARY.
WE WERE NOT INCLUDING CONTRIBUTIONS TO THE PENSION, UH, DEFINED BENEFIT PENSION PLAN.
WE WERE NOT, UH, AND THE PENSION PLANS AND THE, UH, UH, ANY OF THE OTHER TAXES, WE HAD TO ACCRUE THOSE.
THEN WE HAVE THE DEFERRED INFLOW AND DEFERRED OUTFLOW AND THE DEFERRED INFLOW AND OUTFLOW.
WE CANNOT CALCULATE THAT UNTIL WE RECEIVE THE NY A REPORTS, WHICH WE DON'T RECEIVE UNTIL, UH, SOMETIMES IN MARCH.
AND SO THOSE, WITH THOSE ADJUSTMENTS, THOSE TWO ADJUSTMENTS ALONE MADE THE VAST MAJORITY OF THE, OF THE SWING OF THE DIFFERENCE.
AND THAT'S GONNA HAPPEN EVERY YEAR.
IT'S A, IT IS JUST A BIG SWING.
I WONDER, IS IT POSSIBLE TO GET THE, THE DATA IN TIME TO PUT IN THE USE REPORT? WELL, GAS ME 1 0 1, WE WON'T HAVE THAT PROBLEM NOW 'CAUSE WE, WE'VE GONE THROUGH THE, WE'VE GONE THROUGH THE THAT, BUT THE DEFERRED INFLOWS AND DEFERRED OUTFLOWS, WE CAN, UH, IT, WE HAVE TO GATHER CERTAIN AMOUNT OF INFORMATION, SEND THAT TO THE ACTUARY.
BUT THE ACTUARY GO THROUGH THEIR CALCULATION AND SEE, BASICALLY THEY HAVE TO DETERMINE, BEFORE WE CAN DETERMINE THE DEFERRED INFLOWS AND OUTFLOWS, WE HAVE TO KNOW WHAT THE, UH, REQUIRED CONTRIBUTION IS.
SO, SO THAT'S GONNA BE AN ADJUSTMENT EVERY YEAR.
AND IT'S GONNA BE AFTER THE, IT'S GONNA BE AFTER THE FACT.
WHAT'S THE MAGNITUDE OF THAT, OF THAT PARTICULAR ADJUSTMENT? IF I COULD TELL YOU WHAT THAT MAGNITUDE WAS EVERY YEAR I WOULD BE BE OF THE, THE, THE WONDER TEA KIT, WHAT YOU'VE ALREADY CALCULATED.
RIGHT NOW WE HAVE, NOW IT'S IN, IT'S IN, IT'S, IT REALLY DEPENDS UPON WHAT'S GOING ON IN THE MARKET, HOW THE STOCKS ARE PERFORMING, RIGHT.
HOW OUR, OUR PENSION INVESTMENTS ARE PERFORMING AND WHAT, WHAT OUR UH, WHAT'S GOING ON WITH THAT MARK.
SO WE HAVE, WE HAVE AN ADJUSTMENT TO THE DEFERRED INFLOWS AND OUT, PLEASE MARK, I THINK HE'S ASKING WHAT WAS THE 2024 NUMBER FOR THAT ADJUSTMENT.
I MISUNDERSTOOD YOUR QUESTION.
UM, THE ADJUSTMENT, I CANNOT TELL YOU THAT RIGHT OFF THE TOP OF MY HEAD.
THE, UH, I CAN TELL YOU THAT THE, UH, GSB 1 0 1 WAS AROUND THREE 400,000.
SO IT'S A DIFFERENT, SO IT'S AROUND IT.
I SIX OR 7,000 MAYBE 1 0 1 WAS, WAS A NEW PRONOUNCEMENT.
GSB 1 0 1 WAS A NEW PRONOUNCEMENT.
AND ON NEW PRONOUNCEMENTS, I WAIT AND WE GO OVER 'EM WITH THE AUDITORS.
'CAUSE WE ARE, WE WERE AMONG THE FIRST TO IMPLEMENT, UH, THAT GAS GROUP.
WHAT HAPPENS IS MOST OF THE GAS PEOPLE GIVE YOU AN IMPLEMENTATION DATE FOR, AND, UH, SINCE OUR YEAR IS IN DECEMBER, MOST GOVERNMENTAL ENTITIES HAVE A SEPTEMBER YEAR END.
SO WE END UP BEING AMONG THE FIRST TWO TO DO IT TO, TO, TO DO IMPLEMENT.
SO WE ALWAYS LIKE GOING OVER THOSE WITH THE AUDITORS BEFORE WE MAKE THOSE ADJUSTMENTS BECAUSE IT'S ALSO DUE.
AND WE, WE HAD SEVERAL CONVERSATIONS, UM, ON THAT.
SO I, BOTTOM LINE IS, I GUESS THAT THE, THE YEAR END REPORT IS NEVER GONNA BE, THERE'LL ALWAYS BE CHANGES ALWAYS BE CHANGES.
WE TRY TO GET IT, I'M SURE YOU GET ACCURATE AS POSSIBLE, BUT WE DO.
AND THEN ALSO WHAT THEN THE MORE OF A MINOR PIECE, WE ALSO HAVE, WE, WE DO A CRUS ON BASED ON ESTIMATES RIGHT.
FROM INVOICES, FROM CONTRACTORS FROM OTHER PLACES.
THOSE USUALLY DON'T, THOSE AREN'T HUGE SWITCH NORMALLY.
AND THIS IS, THIS IS ALWAYS A PROBLEM.
WE, THIS IS ALWAYS A PROBLEM WHEN YOU TRY TO PUT FINANCIALS OUT IN JANUARY FOR THE PREVIOUS YEAR FOR INFORMATIONAL PURPOSES.
YOU KNOW, THEY'RE INEVITABLY, THEY'RE ALWAYS GONNA BE DIFFERENT, YOU KNOW, AND, AND THEN YOU END UP TRYING LIKE THE QUESTION YOU HAVE, LIKE, WHY, WHY? AND, AND SO MAYBE THE BEST THING TO DO IS NOT ISSUE IN JANUARY UNTIL WE, MAYBE THE LEARNING QUESTIONS.
I THINK WITH THE EXPLAN, I MEAN, I THINK IT'S, IT'S UNDERSTANDABLE WHAT THE DIFFERENCE.
I THINK THERE WAS, YEAH, THERE WAS A TIME WHEN WE DIDN'T, YEAH, OKAY.
WE DID NOT AWAY FINANCIALS OUT IN JANUARY FOR DECEMBER FOR THAT.
[00:15:01]
THANKS.BUT THAT'S, THAT'S WHY I'M ALWAYS CAUTIOUS ABOUT THAT NUMBER AND SAY, WELL, THIS, THESE AREN'T FINAL, UH, I'M LOOKING AT ROBERT BACK THERE.
DID, DID YOU GET IT RIGHT? NO, I KNOW THE WORD FINAL
UM, WE'VE MENTIONED GRAND DELAY EVERY MONTH THIS YEAR, I THINK.
IS IT, AND I DON'T REMEMBER IT IN YEARS PAST BEING SO MUCH.
IS THERE A PROBLEM? ARE WE DOING SOMETHING WRONG? IS TEX STOCK SLOW? IS THERE ANY PROBLEM? ARE WE GONNA GET THE MONEY AND MAYBE WE SOLVE WHATEVER THE ISSUES ARE.
THE FIRST IN, THIS HAS BEEN MY EXPERIENCE OVER THE YEARS WITH TDOT.
THE FIRST INVOICE YOU SEND INTO THEM FOR REIMBURSEMENT TAKES A LITTLE LONGER.
'CAUSE THEY'RE ALSO GOING THROUGH AND GETTING FAMILIAR WITH THE CONTRACT AND DOING ALL THAT.
AND THEN THEY SEND YOU, THEY FIND LITTLE THINGS THAT THEY SEND BACK AND WE HAVE TO FIX AND THEN THEY HAVE 30 DAYS TO DO SOMETHING.
AND ANYWAY, THE FIRST ONE ALWAYS TAKES A LITTLE LONGER.
HAVE WE BEEN PAID FOR THE FIRST ONE? YES, SIR.
WE GOT, THEY OWE US ANOTHER, WHAT? 10 10.
WE'VE ALREADY SUBMITTED ANOTHER 10.
AND, AND THE CLOCK'S RUNNING ON THAT.
THEY, EVERY, SO THE ENTRY IS, WE DON'T HAVE ANY PROBLEM.
WE JUST GOING THROUGH THE NORMAL PROCESS.
IT JUST, IT JUST TAKES A LITTLE TIME IS THE ANSWER.
JUST ONE POINT FOR CLARIFICATION TOO ON THAT, FOR THE TDOT MARITIME, THE PAST GRANTS WERE FACILITATED THROUGH THE HOUSTON DISTRICT, BUT THIS IS THE FIRST SET OF PROJECTS THAT HAVE BEEN FACILITATED WITH TXDOT MARITIME.
SO THE PROCESS ON THEIR END SHIFTED A LITTLE BIT TOO.
SO WE'VE BEEN LEARNING AS WE GO AS WELL.
WHERE'S TEXT OUT? MARITIME TEXT OUT MARITIME IS OUT OF AUSTIN VERSUS LIKE THE TEXT THAT EXPLAIN MARITIME RELATES ME BACK OVER HERE TO THIS LITTLE CAMPUS OVER HERE.
I WOULD JUST TAKE A MOMENT TO, TO REEMPHASIZE THAT.
THAT'S A GOOD RATIONALE FOR NOT INCLUDING THOSE CAPITAL GRANTS IN THE OPERATING BUDGET.
AND OUR AUDITOR SAYS WE DON'T HAVE TO.
SO WE REALLY SHOULD DISCUSS IT.
IF WE PUT THE, 'CAUSE IT, IT HAS, AS YOU CAN SEE, THERE'S ALL KINDS OF EXCEPTIONS NOW THROUGH ALL THE FINANCIAL REPORTS THAT YOU HAVE TO DEAL WITH IS, AND PRETTY SOON PEOPLE LIKE ME JUST QUIT READING.
I MEAN, YOU KNOW, I CAN'T KEEP UP WITH, WITH ALL THESE CHANGES.
WELL, LET'S, LET'S, WE WE CAN DO THAT WHATEVER THE BOARD, THE, THE BUDGET WE NEED TO DISCUSS ANY WAY THE BOARD INSTRUCTS ME TO IT.
UH, I JUST, A COMPARISON TO THE BUDGET IS REALLY WHAT IS WHAT, THAT'S ALL IT IS.
IT'S, IT'S A COMPARISON TO WHAT WE, WHAT IT IS.
AND THEN WE UPDATE PROJECTIONS ALL DURING THE YEAR.
AND UH, WHEN I GOT HERE, WE DIDN'T INCLUDE GRANTS.
WE DIDN'T INCLUDE DEPRECIATION, IF I RECALL.
WELL, WE WERE DOING MORE OF A CASH BASED BUDGET AND UH, PEOPLE WERE TRYING TO COMPARE THAT TO OUR FINANCIAL GSB BASED FINANCIAL STATEMENTS.
AND THEY WERE STRUGGLING WITH THAT.
SO WE STARTED INCLUDING BUILDING THE BUDGET, UH, TO GO ALONG WITH THE, UH, FINANCIAL STATEMENTS.
BUT WE CAN EASILY EXCLUDE THAT.
WE CAN, QUITE HONESTLY, WE CAN DO JUST, IS THAT SOMETHING WE'LL DO A BUDGET, WE DO A BUDGET ADJUSTMENT HERE PRETTY SOON.
I MEAN, I THINK BECAUSE THIS IS CRAZY.
YOU GO TO THIS EVERY MONTH, THERE'S ALWAYS THINGS, QUESTIONS ABOUT IT.
SO IS TIME TO GO THROUGH AND TRUE.
AND THAT WAS ONE OF THE RECOMMENDATIONS I WAS GOING TO MAKE, IS THERE WAS, THERE WAS A $6 MILLION ITEM IN THE BUDGET THAT GOT MOVED INTO 2024 FOR THE REVENUE AND, AND, AND, AND BELOW THE LINE ITEMS. AND I WAS GONNA RECOMMEND THAT WE HAVE, THAT WE BRING THAT ONE LINE ITEM AS A BUDGET AMENDMENT TO THE BOARD NEXT MONTH.
AND YOU NOTED IT AS A, IT'S BEEN AS A, AS A RATIONALE FOR BEING UNDER IN CORRECT THIS MONTH THAT, THAT WILL ALLOW.
NOW WE MAY HAVE, WE MAY STILL HAVE, UH, VARIANCES, BUT THERE'LL BE TIMING VARIANCES THEN.
WOULD WE PUT THIS UP FOR DISCUSSION THEN AND AS VOTING ITEM THEN ONE OF OUR NEXT MEETINGS THEN? OR YES, IT REQUIRES THE BOARD APPROVED FOR US TO ADJUST THE, BRING IT.
WELL, THE ONE ITEM, THE ONE LINE ITEM IS EASY UNLESS WE WANT TO GO THROUGH AND DO THE WHOLE BUDGET.
'CAUSE THERE HAS BEEN CONVERSATIONS ABOUT DOING A MIDYEAR ADJUSTMENT.
WHAT DO YOU THINK WE, WE CAN BRING THAT NEXT MONTH? I MEAN, I, I, I DON'T WANT PUT WHERE MARK'S MOUTH BECAUSE I KNOW HE'S GOT STUFF GOING ON, BUT WELL SURPRISE.
[00:20:01]
BUT I'M, I'M GOING TO CREATE A LIST OF ALL THE BUDGET STUFF THAT WE'VE TALKED ABOUT AND MAYBE JULY OR SOMETHING, A COUPLE MONTHS DOWN THE ROAD.WE CAN LOOK AT THE WHOLE LIST.
BUDGET AMENDMENTS, UH, WHETHER INCLUDE BUDGETS, UH, GRANTS AND OPERATING BUDGETS ARE NOT.
AND I'VE HAVE SOME OTHER NOTES AND THINGS.
WE WE'RE ALSO GONNA HAVE A DISCUSSION HERE IN A FEW MINUTES ON THE, UH, THE CAPITAL PROJECT WORKSHEET.
UM, WE'VE BEEN MEETING SEVERAL TIMES SINCE THIS LAST MEETING.
AND THERE, THERE'S SOME THINGS IN THERE THAT AREN'T GONNA HAPPEN THIS YEAR.
'CAUSE YOU KNOW, I WAS IN THERE LOOKING AND I DON'T LIKE THAT ENDING NUMBER.
AND SO WE WENT BACK AND LOOKED AT ALL THESE PROJECTS AND, AND JEFFREY, I THINK JEFFREY MARK GONNA COME UP WITH SOME DISCUSSION TODAY.
THERE'S ABOUT FOUR OR $5 MILLION WORTH OF ITEMS THAT JUST AREN'T GONNA HAPPEN IN THIS YEAR.
AND, UH, YOU KNOW, AND BECAUSE WHAT, ONE OF THE THINGS THAT'S COME, AND I DON'T WANNA GET AHEAD OF MYSELF, BUT ONE OF THE THINGS THAT'S THAT'S COME UP IS, IS WE TOOK NUMBERS THE WAY THEY WERE IN THE MASTER PLAN, RIGHT? AND SO THINGS CHANGED SINCE WE DID THAT MASTER PLAN TWO, THREE YEAR, FOUR YEARS AGO, RIGHT? SO THERE'S SOME ITEMS IN THERE THAT ARE, WERE PROJECTED FOR THIS THIS YEAR, AND THEY'RE, THEY MAY NOT BE DONE 27TH.
I CALL THAT MANAGEMENT, WHAT I CALL THAT MANAGEMENT.
THAT'S WHY I THINK WE'VE HAD A LOT OF MEETINGS ABOUT, YOU KNOW, WHERE ARE WE REALLY? RIGHT.
I'LL GET YOU A LIST YOU DISTRIBUTE.
AND HERE'S JUST THE PIE CHART OF OUR REVENUES.
SEE, SO Y'ALL CAN SEE A VISUAL.
UH, OUR FINANCIAL EXPENSES YEAR TODAY, GENERALLY WE'RE RUNNING UNDER BUDGET.
INSURANCE IS SLIGHTLY HIGHER, BUT NOT SIGNIFICANTLY.
UM, SO OVERALL, OUR TOTAL OPERATING EXPENSES ARE RUNNING ABOUT HALF A MILLION DOLLARS UNDER BUDGET FOR THE YEAR.
SO YOU CAN KIND OF SEE WHERE THE MONEY'S GOING.
AND THEN A SUMMARY OF THE PRODUCT LINE.
UH, THERE AGAIN, I'D LIKE TO FOCUS ON NET OPERATING INCOME BEFORE ALLOCATIONS OF DEPRECIATION.
YOU CAN SEE WHAT THE CONTRIBUTION MARGIN IS FOR EACH ONE OF THE LINES OF BUSINESS BEFORE WE, UH, PICK UP THE MISCELLANEOUS, THE UNALLOCATED PORTION OR INDIRECT, UH, WE ARE GONNA BE TALKING ABOUT SOME, UH, SOFTWARE, SOME SOFTWARE THAT WILL HELP US BETTER CAPTURE PART OF THAT SIX, THAT $7 MILLION AND BILL IT TO THE CORRECT AREA INSTEAD OF HAVING IT HAVING TO BE ALLOCATED, UH, A LITTLE LATER.
IT'S ON THIS AGENDA ITEM TODAY THAT'S, THAT'S ON THE AGENDA ITEM TODAY.
WE'RE AT 118,000 SO FAR THIS YEAR.
UM, SEEMS LIKE WE ARE, WE NEVER SPEND EVERYTHING WE, WE BUDGET FOR TRIBAL TRAINING AND DEVELOPMENT, BUT WE, WE PUT IT IN THERE WITH BEST OF INTENTIONS.
UH, CASH WHERE AT 134,000, EXCUSE ME, 134.7 MILLION MILLION, NOT THOUSANDS IN TROUBLE.
UM, UNRESTRICTED IS 14.4 MILLION AT THE END OF APRIL.
LEGALLY RESTRICTED, WE STILL HAD 108.7 MILLION.
UH, THAT WAS, UH, PREDOMINANTLY BOND PROCEEDS AND INTEREST IN SEEKING FUNDS AND BOND SERVICE RESERVES.
AND THEN INTERNALLY RESTRICTED, WE HAVE 11.6 CHECKS TO LOCAL VENDORS.
UH, 5.7 MILLION FOR THE MONTH, UH, NON-LOCAL VENDORS FOR 11.7.
AND THEN, UH, COUNTS OVER 90 DAYS.
WE'VE COLLECTED, UH, ABOUT, OH, BETWEEN 15 20,000 OF THAT.
AND IT IS JUST TWO OR THREE VENDORS THAT WE HAVE, UH, RECEIVABLES FROM RIGHT NOW THAT ARE OVER 90 DAYS.
[00:25:01]
THEM, UH, TO GET THAT CLEARED UP.UH, SAME QUESTION AS LAST MONTH.
WE SEE THE AR RECEIVE, UH, A ARE OUR PAYABLES CURRENT.
OUR PAYABLES ARE CURRENT AS TO THE ONES THAT I HAVE RECEIVED IN AD AND HAVE, AND THEY HAVE BEEN, THAT HAVE BEEN REVIEWED AND SENT TO US FOR PAYMENT.
AND IF SOMEBODY, IF, IF A DEPARTMENT HAS AN INVOICE THAT THEY'RE HOLDING, UH, I CAN'T, I CAN'T PROCESS IT.
BUT IF ONCE IT GETS TO AP, WE'RE GETTING 'EM PROCESSED IN ABOUT, IN, IN, WITHIN A REASONABLE TIMEFRAME.
AND IS THE DEFINITION OF CURRENT 30 DAYS OR LESS? IT'S ABOUT 30 DAYS.
WE MAY HAVE, WE MAY HAVE A FEW THAT GO OVER 30 TO 35, BUT GENERALLY THEY'RE GOING IN ABOUT, UH, 30 DAYS OR LESS.
AND THE, TO THE QUESTION, THE BOTTOM LINE IS WE'RE NOT MANAGING CASH FLOW BY HOLDING BILLS.
WE ARE, WE ARE TRYING TO GET 'EM OUT WHEN THEY'RE DUE.
EVEN IF WE DID, WE WOULD, IT WOULD JUST BE CASH.
WE WOULD ACCRUE THE, WE'D HAVE, WE'D HAVE IT ON THE BOOKS AS A PAPER.
YEAH, I'M GOING CASH AND CASH FLOW AND RESEARCH.
WE'RE NOT, WE'RE NOT DELAYING A WHOLE LOT OF OUR CASH OUTFLOW IS RIGHT NOW IS RELATED TO DEBT.
SO RIGHT THERE, I TEND TO, I TEND TO RELEASE ACHS ON FRIDAY AND THEN THEY SETTLE ON MONDAYS.
THAT, THAT, THAT'S THE GENERAL FLOW OF IT FOR US.
OCCASIONALLY WE'LL DO IT ON THURSDAY AND THEY GET, 'CAUSE IT TAKES THE NEXT BUSINESS DAY.
CURRENT HERE IS JUST TO BREAK DOWN THE CURRENT CASH POSITION.
YOU CAN GRAPHICALLY WHERE IT'S, HAVE SOME QUESTIONS, STABBING LEVELS.
CURRENTLY WE HAVE 134 EMPLOYEES AS, UH, FIVE NINE.
SO CURRENTLY WE, WE ARE 10 UNDER, UH, I DO KNOW THAT WE ARE ADVERTISING THE POSITION IN MY DEPARTMENT TRYING TO GET THAT POSITION FILLED NOW THAT WE GOT PAST THE BUDGET AND, UH, AND BEFORE WE GET BUSY AGAIN.
SO WE JUST HAVE A TIME TO INTERVIEW AND TRAIN.
AND OF COURSE THE POLICE, UH, AND CRUISE TERMINALS OR THE CRUISE TERMINALS, THEY'RE GETTING READY TO START HIRING AS WE GET CLOSER TO OPENING UP THE NEXT TERMINAL.
AND, UH, I THINK SEEING HIM IS CONSTANTLY TRYING TO FIND, WE'VE BEEN HIRING A FEW LANDSCAPERS RECENTLY AND WE'RE, WE'RE, WE'RE STILL WORKING ON SOME OTHERS.
SO WE'RE, WE'RE, WE'RE TRYING TO GET THESE POSITIONS FILLED.
PAYMENT TO THE CITY OF GALVESTON.
MAYOR, WE'VE GIVEN YOU $1.3 MILLION THIS IN THE LAST FOUR MONTHS.
LITTLE MORE ENTHUSIASM IN THAT
CAN YOU REMIND ME HOW MUCH WE IN THE SCHOOL DISTRICT? IT WOULD BE ABOUT 12 AND HALF PERCENT OF THE ONE MONTH'S PAYMENT TO THE CITY.
UM, NOW IT, WE WILL MOVE ON TO THE DOCKETS DISCOUNT.
UH, AND THAT'S, THAT BASICALLY COVERS THAT PORTION.
UH, IF YOU ALL Y'ALL HAVE ANY SPECIFIC QUESTIONS, BE HAPPY TO GET INTO 'EM.
BUT WE HAVE, WE'RE GONNA BE GETTING INTO THE FINANCIAL STATEMENTS A LITTLE BIT HERE IN A MINUTE AS WE TALK ABOUT, UH, STRUCTURE.
DOES THAT INCLUDE GENERALLY THE CONSENT AGENDA? YES.
UH, CHAIR, UH, JUST PROCEDURALLY, ONE OF THE ITEMS, EVEN THE CONSENT AGENDA IS TAB EIGHT.
IT INCLUDES BUDGET AND SO, UH, IT WOULD MAKE SENSE AND THERE'S A COMMITTEE RECOMMENDATION AND THEN A BOARD BY BOARD APPROVING.
WE JUST NOTE THAT SO THAT IT'S IN THERE AND JUST WANNA MAKE SURE EVERYBODY'S AWARE OF IT.
[00:30:04]
YEAH.WHO ALL GOING TO THAT TRIP? THAT'S JUST ME.
IF YOU WANT ME TO GO FCA I'LL FIND A WAY.
NEED SOMEBODY TO TAKE YOUR LUGGAGE.
SO THAT CONCLUDES THE CONSENT AGENDA.
DO I HAVE A MOTION TO APPROVE? SO MOVE SECOND.
I'LL SECOND ANY FURTHER DISCUSSION QUESTIONS.
I GUESS I CAN ASK SOME QUESTIONS RELATIVE TO WHEN WE GO OVER THE MASTER PLAN.
EVERY TO YOU NEED TO BRING SOME FLAMINGO ATTIRE.
I PUT THIS THING I WANT, I WANT, I WANT, I WANT PICTURES.
I WANT, I WANT PICTURES OF THOSE.
[III.B. Discuss Updated Master Plan Spreadsheet Capital Projects]
WOULD GO BACK TO THE FRONT OF THE BOOK AND GO TO THE FIRST TAB TWO.JEFF, YOU WANT TO HELP EXPLAIN OUR PROPOSED CHANGES WE HAVE HERE.
THIS IS THE, UH, OUR MASTER, UH, THE CURRENT MASTER PLAN CAPITAL PROJECTS FOR THE NEXT COUPLE OF YEARS AS WE HAVE PRESENTED.
UH, JEFF IS GONNA GO, WE WENT THROUGH THIS SEVERAL TIMES, UH, AS LAST, THE LAST TIME WE WENT THROUGH WAS LATE FRIDAY AFTERNOON.
AND WE WANT Y'ALL TO BE AWARE OF THE PROPOSED CHANGES THAT WE'RE GOING TO INCORPORATE INTO THIS FOR THE NEXT BOARD MEETING.
UH, AND THAT JEFF NOTICED THESE PROJECTS MUCH BETTER THAN I BE GOOD TO HAVE.
ALL MY NOTES ARE ON THE OLD SHEET.
YEAH, SO IF YOU GO TO THE, THE LAST PAGE OF IT, THE PAGE ONE, IT'D PROBABLY BE THE EASIEST WAY TO FOLLOW ALONG SO WE DON'T FLIP BACK AND FORTH BECAUSE THEY, ALL THE, UM, THINGS WE'RE LOOKING AT ARE ON WHAT ARE CONSIDERED THE ACTIVE PROJECTS.
WE CAN, UM, START AT THE TOP WITH ABOUT, IT'S A SECOND PAGE ONE, MP SIX, WHICH IS THE WAR ROAD IMPROVEMENTS.
UM, THIS PROJECT WE HAD 3.9 MILLION LISTED, UH, PAGE, PAGE TWO.
IT'S ACTUALLY, IT'S LABELED PAGE ONE, BUT IT'S THE VERY LAST PAGE.
THE ONE THAT HAS ALL GREEN, ALL GREEN DOWN SUMMARY DOWN ON, ON MP SIX WAR ROAD IMPROVEMENTS, 20 TO 23RD STREET.
THIS ONE, WE ACTUALLY HAVE, UH, ACTION ITEMS ON TODAY'S AGENDA.
UM, AND IT'S, UH, ANOTHER TEXT GRANT PROJECT.
THE ENGINEERING ESTIMATES WERE COMING IN AT, UH, CLOSER TO, UH, $4 MILLION, $3.9 MILLION.
UM, AND WE ARE, UH, RECOMMENDING AWARD OF A CONTRACT AND SOME TESTING ON THIS PROJECT.
AND SO WITH THAT, THE, THE CONTRACT AWARD IS GONNA BE ABOUT THREE POINT, UH, ONE, JUST OVER $3.1 MILLION.
UM, WE ALSO HAVE SOME TESTING SERVICES ABOUT $60,000, SOME EXISTING CA AND, UH, THE CENTERPOINT STUFF THAT Y'ALL HAVE ALREADY APPROVED.
AND SO RIGHT NOW WE'RE LOOKING AT PROBABLY BEING ABLE TO REDUCE THAT PROJECT BY ABOUT $600,000.
BUT WE'LL, WE'LL SHOW YOU THE, THE FINAL ADJUSTMENT, WHICH WE WERE ABLE TO, UM, LOOK AT ALL THE NUMBERS.
NEXT ONE, MP, I HAVE A QUESTION ON THAT.
UH, WHEN WE, WHEN WE, I KNOW IT'S A RARITY THAT WE ACTUALLY GOT SOMETHING TO COME IN UNDER WHAT WE PROJECT MM-HMM
DOES THE TCO GRANT, THE LOCAL MATCH PRO RATA SAVINGS? NO.
UH, IT, IT'S, IT'S NOT BECAUSE WE WERE ACTUALLY, THE, THE GRANT, UH, THAT WE RECEIVED ON THIS PROJECT COST OF THE ACTUAL PROJECT OR, OR THE ORIGINAL ESTIMATE OF THE PROJECT WAS 2.6 MILLION.
AND SO 1.9 IS A CAPPED AMOUNT THAT THE GRANT PROVIDES.
AND SO OUR, OUR, OUR SHARE GOES DOWN SLIGHTLY BECAUSE THE WHOLE PROJECT COMES DOWN.
BUT TDOT'S STILL GIVING US JUST 1.9 MILLION.
THIS IS ALSO ONE THAT TDOT PAYS THE FIRST 1.9 MILLION ONCE WE GET OUT OF ENGINEERING, ONCE WE GET INTO CONSTRUCTION AND THEN WE PAY EVERYTHING OVER, EVERYTHING OVER AND THEN, AND THINGS LIKE ENGINEERING AND STUFF ARE, ARE COVERED
[00:35:01]
UNDER, WE HAVE TO PAY THOSE.SO, AND SO THAT'S WHY WE GET A BIGGER NUMBER HERE.
BUT WHEN YOU TELLING YOU YOU, WHAT YOU REDUCING IS THE AMOUNT THAT WILL COME OUTTA OUR POCKET, WHICH IS GOOD.
WHICH WE'RE PRETTY MUCH, THIS IS, I'M BEGGING THE QUESTION NOW.
PRETTY MUCH COMPLET THE STUFF DOWN HERE IN THE, IN THIS PART OF THE PORT? YES.
NO, I MEAN, YOU, YOU WILL, YOU WILL BE ABLE TO DRIVE FROM THE WEST END OF THE PORT TO THE EASTERN OF THE PORT, ALL WITHIN THE PORT AFTER THIS ROAD IS COMPLETE.
HOWEVER, I WILL SAY THERE ARE SOME OPERATIONAL CHALLENGES.
WE'RE WORKING AROUND, LIKE WHERE WE HAVE REVERSE TRAFFIC FROM 23RD STREET.
THAT MAY BE ON, ON A NON CRUISE DAY ONLY YOU CAN DRIVE ALL THE WAY.
SO, UH, THE, THE ADJUSTMENT, UH, LEAVES, UH, LEAVES PLENTY FOR A CONTINGENCY IN THE PROJECT.
SO, SO THAT, THAT ADJUSTMENT INCLUDES THE CONTINGENCY AND ALLOWANCES WE ARE ASKING FOR IN
SO THE, THE NUMBER YOU'RE, YOU'RE ADJUSTING DOWN TO INCLUDES CONTINGENCY, CORRECT? YEAH, YEAH.
THE, UH, THE, THE PROJECT, I HAVE IT ON MY SHEET BACK THERE, BUT BASICALLY THE, THE 3.13 INCLUDES 150,000 IN CONTINGENCY, OBVIOUSLY ABOUT 200 AND ABOUT QUARTER OF A MILLION TESTING ALLOWANCES.
AND I'M ASSUMING THE TESTING TO TARRAGON IS CAPITALIZED? YES.
THE NEXT ONE DOWN, ONE MORE THING.
WHAT WE'RE SAYING HERE NOW IS, IS WE'LL COMING BACK WITH A, A NEW PROJECT TOTAL ON THIS FORWARD AND THEN THE CASH, THE CASH LOOKS LIKE IT'S GONNA FLOW THE SAME.
DO WE, DO WE HAVE ANY ADJUSTMENTS? I KNOW 'CAUSE I HAVE ON MY NOTE, WE HAD, UH, I HAVE MINE AT SEVEN 50, BUT UM, I WE'RE LEAVING THE CONTINGENCY IN THERE, BUT SO THE FUNDING IS STILL GONNA BE FLOWING ON THE SAME TIME? THE THE YES.
NOW WE, WE HAD, AND ACTUALLY, WELL I WILL SAY THERE WILL BE A SLIGHT, UM, BECAUSE WE PAY, WE GET REIMBURSED FOR THE FIRST DOLLAR SPENT, THE $1.9 MILLION, THIS IS ABOUT A 12 MONTH DURATION OF A PROJECT.
SO OUR MONEY WE WON'T BE GETTING REIMBURSED FOR WILL COME LIKELY IN 2026 ALSO 20 20, 20 26.
SO WE'RE NOT SHOWING THAT HERE.
BUT IT WILL BE, IT'LL SHOW 1.6 IN 25, RIGHT? YEAH.
RIGHT NOW WE'RE SHOWING YEAH, 1.6 AND 25.
BUT WE WILL ULTIMATELY BE, UH, UM, AND I, I WANT TO SAY, I'M TRYING TO SEE WHY THAT IS, BUT, BUT ULTIMATELY IT'LL BE A REDUCTION BY THE, THE, I DON'T KNOW THE EXACT NUMBER RIGHT NOW, BUT, BUT MY ESTIMATE WAS SOMEWHERE AROUND $650,000.
AND, AND, AND IT'LL PROBABLY SHIFT 2 26 GIVEN THE TIMING OF THE PROJECT.
THE BOTTOM LINE, ROGER, IS WE'RE GONNA SHOW ABOUT A 600,000 PLUS PRODUCTION IN THE WHOLE PROJECT, WHICH WILL BETTER THAN NUMBERS AND TWO WILL PUSH CASH FLOW A GOOD PART OF THAT INTO 26 ON THE LOCAL MATCH PART.
I THINK THAT WOULD BE HELPFUL, SHEILA.
AND IT, SAME WITH ON THESE GRANTS WE'RE TALKING ABOUT SAFE STREETS A CALENDAR AND WE APPROVE A GRANT SUBMITTING THE GRANT TODAY, I HAVE NO IDEA WE'VE GOT 4% INFLATION ONE YEAR.
I HAVE NO IDEA WHAT THE TIMEFRAME IS FROM THE TIME WE APPLY TO THE TIME THE DEADLINE IS TO SUBMIT THE DEADLINE FOR THEIR DECISION.
AWARD PAPERWORK, BID OUT CONSTRUCTION.
IS THAT A THREE YEAR TIMEFRAME? WELL, AND, AND I WOULD TELL YOU FROM, FROM THE PAC STANDPOINT, UH, PORT AUTHORITY ADVISORY COMMITTEE AT TEXTILE, THIS IS A, THIS IS AN ISSUE WE'RE ADDRESSING NOW BECAUSE ALL THE PROJECTS WE JUST WERE ALLOTTED THE MONEY TO IN THE LAST GO ROUND, YOU KNOW, WAS TWO AND A HALF YEARS AGO WHEN WE PUT THOSE IN THE PLAN.
AND THE SAME THING RIGHT NOW, THE, THE PLAN WE JUST PRESENTED TO THE LEGISLATURE HERE AGAIN TWO YEARS AGO, RIGHT.
NUMBERS, EVERYBODY'S HAVING THE SAME PROBLEM IS, AND THAT'S WHAT HAPPENS.
IF IT'S FALSE STATEMENT, THAT'S ONE THING.
BUT IF YOU START GETTING FEDERAL TAX, THEN YOU GET TO THE CONSTRUCTION PHASE AND YOU GOTTA RUSH LIKE HELL TO GET IT COMPLETE.
'CAUSE THERE'S A DEADLINE OF WHEN IT HAS TO BE SPENT.
I DON'T, YOU KNOW, I DON'T THINK ONE YEAR FOUR PERCENT'S A GOOD NUMBER.
NO, BUT IT IS A GOOD, BECAUSE WE'RE, WE'RE ADDRESSING THAT ISSUE NOW BECAUSE IT'S, IT ACTUALLY HAS GOTTEN TO THE POINT WHERE A COUPLE OF SMALL REPORTS NOW CAN DO THE DEAL, RIGHT? YES.
BECAUSE THE MATCH THEY HAD THEN IS NOW A DIFFERENT MATCH.
[00:40:01]
PROJECT'S MORE.AND I DON'T WANT, I DON'T WANT A CALENDAR TO SIT UP HERE AND I RANG ROGER TODAY, YOU MISSED IT BY 60 DAYS.
YOU KNOW, IT'S SOMETHING TO DEVIATE FROM.
IT'S SOMETHING TO KIND OF SET THE TIMEFRAME AND THEN THEY'LL HAVE LEGITIMATE REASON WHY IT GOT PUSHED OR MOVED UP.
AND WE, AND WE HAVE A SCHEDULE, YOU KNOW, THAT I SHOWED IN MY REPORT THAT WE CAN PROBABLY ADD A CALL TO AND EXPAND AND YOU LIST AND PUT THAT YEAH.
JUST SOMETHING THAT I CAN ONLY TAKE ONE PAGE OUT OF THIS.
SO ON IT WITH ALL THIS, SO YOU'RE GONNA, IN SOME OF THIS, IT'LL SHOW SOME SPENDING MOVE OVER TO 2026 FOR THIS PROJECT.
AND, AND THIS IS THE EXERCISE.
WHICH IS JUST EXERCISE SPEED BE REAL.
BECAUSE WHEN NEED ON THE MASTER PLAN, IT WAS 2019.
AND THOSE, THOSE ESTIMATES ARE, YOU KNOW, IT'S TOUGH.
IF YOU'RE NOT ACTIVELY PURSUING THAT PROJECT RIGHT, THEN YOU'RE KEEPING THE SAME NUMBER ON HERE UNTIL YOU GET TO IT AND THEN ALL OF A SUDDEN IT'S A DIFFERENT NUMBER.
I LIKE THE ONES THAT GO BACK TO THAT WAY.
I'VE GOT, UH, I THINK I HAVE SEVEN OR EIGHT TODAY, BUT, WELL, IT'S NOT BAD
UM, SO IT SAYS, UH, CT 28 P 28 REPAIRS.
THIS IS, UH, REPAIRS TO, UH, SOME OF THE OLD AGING FACILITIES OUT, OUT THERE.
AND UH, THIS, THIS PROJECT RIGHT NOW IT'S, YOU KNOW, $950,000 AND THIS JUST BASICALLY, IT'S KIND OF A PLACEHOLDER.
WE DON'T HAVE ANY ENGINEERING DONE ON THIS PROJECT.
IT'S, IT IS KIND OF, IT, IT'S AN ITEM THAT WE DON'T HAVE A DEFINED SCOPE FOR EITHER.
ALL WE KNOW IS THAT WE'VE GOT SOME, UM, MOVEMENT OCCURRING AT THE DOCK STRUCTURE AND WE'VE GOTTA ADDRESS IT.
SO, SO RIGHT NOW, THIS IS A PLACEHOLDER, BUT GIVEN THAT WE'RE ALMOST HALFWAY THROUGH THE YEAR AND WE HAVEN'T STARTED ENGINEERING, WE DON'T BELIEVE WE'LL BE SPENDING THIS MONEY AS QUICKLY AS WE ORIGINALLY THOUGHT.
AND SO WE WERE THINKING CONSERVATIVELY WE COULD, UM, LIKELY SHIFT THIS PROJECT.
AND, AND I DO INTEND TO, TO BRING BACK TO Y'ALL, UM, SOME QUALIFICATIONS AND TO, TO, TO GET STARTED ON ENGINEERING
SO I THINK THERE'S BEEN SOME ENGINEERING.
SO WE WERE LOOKING AT, UM, HOLDING ABOUT 500,000 THIS YEAR AND SHIFTING THE OTHER 450 OR WHATEVER THE PROJECT IS UP BECOMING IN 2 26.
AND THERE'S, YOU KNOW, AND THIS PROJECT'S A GOOD TIME TO PROBABLY TALK ABOUT THIS A LITTLE BIT TOO, BECAUSE THIS IS A PROJECT I, I'VE ASKED JEFF TO GO BACK AND REALLY, LET'S TAKE A, A HOLISTIC LOOK AT WHO'S TURNED 28.
'CAUSE IT'S THE ONLY ONE REALLY THAT WE HAVEN'T PUT ANY MONEY INTO AND WHY ABOUT 10 YEARS.
WE KNOW THAT THERE'S SOME, WE KNOW THERE'S THE ISSUE HE'S TALKING ABOUT HERE.
THERE'S AN ISSUE ON THE, ON THE DOCK ITSELF WHERE IT IS KIND OF MOVING A LITTLE BIT AND UH, YOU KNOW, AND, AND THEN AT THE SAME TIME, DO WE LOOK AT, UH, GANGWAYS, THOSE GANGWAYS ARE, ARE, ALTHOUGH THEY'RE FUNCTIONING WELL NOW.
UM, SO I'VE ASKED HIM TO GO BACK AND GIVE US A WISH LIST ON CRUISE TERMINAL 28 AND WHAT WE WOULD DO, BECAUSE WE READY TO BRING IN, YOU KNOW, TECHNICALLY ANOTHER CRUISE LINE IN THERE AND WE'LL HAVE ANOTHER CRUISE LINE IN THERE THAT'S GONNA BE YEAR FULL AROUND YEAR, A YEAR ROUND IN THAT TERMINAL.
WE'VE ASKED THE TENANTS OVER THERE TO COME BACK AND SAY, WHAT ARE THINGS THAT MIGHT BE HELPFUL TO YOU? AND SO THAT, AS I SAID, THIS WOULD BE A WISHLIST, BUT WE'RE GONNA COME BACK AND, AND JUST HAVE A GENERAL DISCUSSION IN AMONG THE FINANCE COMMITTEE OF WHERE WE ARE 28.
WHAT WOULD WE, IF WE COULD DO SOMETHING, WHAT WOULD WE DO IF 28 WHERE WE NEED SOME WORK ON THE CUSTOMS? UM, WE DO.
CUSTOM
AND WE WERE HAVING CONVERSATIONS BECAUSE, YOU KNOW, THEY GRACIOUSLY LET US DO 16 FIRST.
AND YEAH, I WAS LOOKING, I'M SO SORRY.
UM, I, 'CAUSE I THINK IT WOULD BE THE SAME TRADES.
UM, WHAT ABOUT THIS, WHAT ABOUT FIXING UP THIS PART TOO? YEAH.
IN THERE A GAP RIGHT HERE? MM-HMM.
AND I DON'T KNOW IF YOU REMEMBER THE DISCUSSION YOU'VE HAD ABOUT THAT.
THIS IS THE ONE WHERE THE STATE HISTORICAL SOCIETY SWEARS UP AND DOWN, THERE'S SOMETHING BURIED THERE.
WELL, MAYBE WE COULD GET SOME DEFINITIVE ANSWER.
WE WE JUST ACTUALLY WRAPPED UP OR WE'VE JUST RECEIVED CONCURRENCE ON THE, UH, ANTIQUITIES PERMIT THAT WE HAD TO OPEN 10 YEARS AGO TO DO THAT WORK.
AND WE'VE FINALLY GOTTEN CONCURRENCE ON THAT FINAL REPORT THAT EVERYBODY AGREES ON WHAT'S SAID IN THAT FINAL REPORT, BUT DOES NOT ELIMINATE THE POSSIBILITY THAT SOMETHING ELSE IS DOWN THERE.
COULD BE MY GREAT, GREAT GRANDFATHER'S SHIP.
[00:45:01]
JUST TRYING TO FOLLOW BACK ON 28.I KNOW ON THE, UH, LIST WE GOT TO JIM'S POINT, THE MP 23, WE DO HAVE A-C-C-B-P UH, IMPROVEMENT THERE FOR $5 MILLION, UH, WITH, I GUESS IT SHOWS 2026.
AND THEN THERE'S, I GUESS THIS PROJECT THAT YOU'RE TALKING ABOUT, ROGER, THERE IS A MP 17 CTA 28 IMPROVEMENT, $60 MILLION WITH NO, IT'S NOT ON THE NEXT TWO OR THREE YEARS.
IS THAT THE PROJECT YOU'RE KIND OF, IS THAT THE SAME PROJECT THAT YOU'RE KIND OF LOOKING AT OR IS THIS DIFFERENT? WELL, I THINK WE WILL OVERHAUL THAT PROJECT.
AND YOU, BUT WE HAVEN'T DONE, LIKE YOU SAID, IT'S PART OF WHAT THE MASTER PLAN SAID, BUT WE HAVE, WE HAVEN'T GONE BACK AND REALLY DONE ANY SCOPING OR WHAT WE NEED TO DO WITH THAT.
NO, THAT'S WHAT'S GOING THROUGH MY MIND RIGHT NOW.
'CAUSE ULTIMATELY, LIKE ONE OF THE THINGS IS THIS AND YOU KNOW, WITH RESPECT TO THE LAST PROJECT AND, AND THIS PROJECT, YOU KNOW, THE CBP FACILITY IS VERY FAR AWAY FROM THE NEWER BUILDING WE BUILT.
SO DO WE WANT TO KEEP INVESTING IN A CBP FACILITY IN THE OLDER BUILDING OR, OR MOVING CLOSER TO A NEWER BUILDING AND, AND THOSE ARE SOME
WELL, AND ONE OF THE OTHER CONVERSATIONS WE'VE HAD IS, IS IT A LITTLE SCALED DOWN? YEAH.
BECAUSE WE DID BUILD, YOU KNOW, A REALLY GOOD, NICE FACILITY AT 25, WHICH IS CLOSE BY AND ARE THERE PIECES OF THAT THAT AND, AND CVP HAS SAID THERE ARE PIECES OF THAT WE THINK WE CAN USE.
SO WE'RE NOT LOOKING AT A FULL, SO SOME OF THESE NUMBERS HERE, AGAIN, WERE BASED ON HISTORICALLY WHAT HAD COST US.
SO THIS IS WHAT WE'RE GOING, WE'RE GONNA DEEP DIVE ON NOW.
WE'VE HAD SOME, HAVE SOME TIME TO TAKE A LOOK AT IT.
CAN YOU REFRESH MY MEMORY? WHAT, WHAT MAKES IT AN ACTIVE PROJECT? YOU HAVEN'T BEEN A LITTLE CONCERNED THAT WE HAD THIS MP EIGHT.
WE HAVEN'T DONE ENGINEERING, WE HAVEN'T DONE ANYTHING, BUT IT'S ACTIVE.
WHAT'S THE DEFINITION TO PUT IT IN GREEN? SO, UH, IT IS REALLY SOMETHING THAT WE ARE WORKING ON AT A, AT LEAST A PLANNING LEVEL.
I MEAN, BECAUSE THAT ONE IS VERY MUCH IN THE PLANNING STAGES, BUT WE KNOW GIVEN WHAT'S HAPPENING IN THE FIELD, THAT WE NEED TO DO SOMETHING.
SO THAT ONE IS A LITTLE BIT OF AN OUTLIER AS FAR AS THIS SHEET IS CONCERNED BECAUSE WE'RE TRYING TO HIGHLIGHT THINGS THAT WE WE'RE GONNA NEED TO TAKE ACTION ON, EVEN IF WE HAVEN'T GOTTEN SOMETHING APPROVED YET.
BUT, BUT MOST OF THESE, IT, IT BECOMES AN ACTIVE PROJECT ONCE Y'ALL HAVE APPROVED THE FIRST CONTRACT.
UM, EVEN IF IT'S LIKE A, A A, A CONCEPTUAL OR LIKE A SCHEMATIC LEVEL PLAN, THAT'S WHATEVER WE WOULD TYPICALLY MOVE IT.
BUT THIS ONE IS AN OUTLIER BECAUSE I KIND OF REQUESTED TO BECOME AN ACTIVE PROJECT GIVEN WHAT WE SEE SEAL.
I WAS JUST THINKING THIS MIGHT TIE INTO THE QUESTION I'VE BEEN ASKING EVERY MONTH, WE'VE GOT THE DATA HERE, EXTRACT OUT THOSE PROJECTS THAT WE HAVE UNDER CONTRACT AS AN ADDITIONAL PAGE.
IF WE'VE GOT A CONTRACT ON IT, IT IT'S EXTRACTED OUT AND THEN WE CAN LOOK DOWN THERE AND SEE, OKAY, WE'VE GOT $14 MILLION IN CASH, BUT WE'VE GOT $50 MILLION IN CONTRACTED PROJECTS MM-HMM
IF THAT WOULD BE A POSSIBILITY.
IS THERE A POSSIBILITY? AND IT MAY BE, SURE, I MAY NOT MEAN WE MAY NOT HAVE CONTRACTS ON ANY OF THIS STUFF, BUT THREE OR FOUR OF 'EM, I DON'T KNOW, BUT MM-HMM
ADD ANOTHER PAGE THAT THAT JUST LOOKS AT.
I GOT ANOTHER BASICALLY SHOWING WHAT WE HAVE UNDER CONTRACT IE COMMITMENT, RIGHT? YES.
AND THEN WE CAN LOOK DOWN THE FUNDED OUT OF OPERATIONS AND THAT'S WHAT WE CAN MATCH UP TO WHAT OUR CASH POSITIONS ARE.
THAT SOMETHING WE CAN HAVE AS EARLY AS NEXT MONTH.
I, BECAUSE I KNOW, I KNOW THERE'S LIKE, I BELIEVE IT'S LIKE NOTE FOUR IS WHAT IT'S REFERRED TO, HAS SOME OF THAT STUFF ON THE ONE THAT WE ACTUALLY HAVE CONTRACT ON.
I DON'T WHAT SECTION? PARDON MY NOTE.
YEAH, THERE'S A, THERE'S A REPORT BACK IN HERE.
REPORT BACK THERE THAT SHOWS WHAT'S ACTUALLY COMMITTED.
WE'VE ACT WHAT WE'VE ACTUALLY HAD CONTRACTS ON.
SO IT'S, IT'S JUST ADJUSTING, PULLING THAT, PULLING THAT FORWARD INTO A PUT IT HERE.
YOU DON'T NEED IT ON THE BACK PAGE, YOU KNOW, CAN BE ANOTHER REPORT BE HEADING THIS AND ELIMINATING ANOTHER ONE.
IT'S TAB FOUR, I THINK FOUR UNDER CONSENT.
IT'S, IT'S ON THE, UH, I BELIEVE THE BANK RECONCILIATION YES.
AS YOU GO BACK THROUGH THERE, YOU SEE, YEAH, IT'S THERE.
THAT'S EXACTLY, I THINK THERE BALANCE REMAINING APPROVED, COMMITTED.
I THINK ULTIMATELY I DON'T WANT THAT THERE ARE TWO DIFFERENT SHEETS ULTIMATELY, RIGHT? THAT,
[00:50:01]
THAT THEY'RE BUILT DIFFERENTLY.SO, SO THERE MAY BE SOME WORK BECAUSE THAT ONE OTHER SHEET MIGHT TIE TO OTHER THINGS THAT ON, ON THIS MASTER PLAN SHEET, IT'S ANYTHING THAT WE, THAT WE HAD BUDGETED FOR 2025, WE MIGHT NOT HAVE A COMMITMENT, IT MIGHT NOT BE A CONTRACT, BUT WE AND THE MASTER PLAN, WE THOUGHT THIS PROJECT'S GONNA BE DONE IN 2025.
THIS IS WHAT CATEGORY OF SPENDING WE'RE GONNA DO ANY, THERE'S OPERATIONS GRANT OR DEBT.
UM, SO THAT'S WHY IT'S ON THIS SHEET.
SO IT MIGHT NOT NECESSARILY HAVE A CON CONTRACT YET TO IT.
I GUESS THE QUESTION IS JUST PULLING THE CONTRACT INFORMATION OUTTA THE OTHER TAB FOUR.
NO, NO, IT'S, IT IS DEFINITELY POSSIBLE.
THAT'S, THAT'S SOMETHING CERTAIN WE CAN DO, I BELIEVE ON THAT LAST, UH, PAGE, MR. BOROUGH.
I COULD, SHE SHOULD BE THE SUMMARY.
TAKING THAT INFORMATION WE CAN DISCUSS YEAH, NO PROBLEM.
UH, THE NEXT ONE IS, UH, M 59.
UM, WE HAD THE PROJECT COST HERE IS, THIS IS ONE OF THE PROJECT COSTS THAT CAME FROM THE MASTER PLAN, $1.6 MILLION.
AND WE, WE HAD ASKED, UH, A RECOMMENDED APPROVAL.
WE AUDIT APPROVED, UH, $469,000 ON THIS PROJECT SO FAR.
SO, SO THAT'S THE ONLY PORTION THAT WE HAVE ACTIVELY BEEN WORKING ON.
OF THAT $1.6 MILLION THAT INCLUDED $169,000 FOR THE RAIL REMOVAL OUT HERE IN FRONT OF THE CRUISE TERMINALS.
AND THEN THE $300,000 THAT Y'ALL APPROVED FOR THE PAVING THAT IS CURRENTLY ONGOING.
AND SO WITH THAT, UM, WE HAVE, UH, AN ADDITIONAL SPEND IN THIS YEAR OF, UH, ONE POINT.
UM, THE MAIN THING WE'RE WORKING ON DOING RIGHT NOW IS WE'VE GOT MAYBE CLOSE TO A HUNDRED, UM, THOUSAND DOLLARS LEFT TO, TO FINISH OUT THE PAVING ON THIS PROJECT.
UM, AND, AND THEN THE, THE REMAINDER, WE DON'T HAVE A PLAN RIGHT NOW TO SPEND.
SO, SO WE WERE GOING TO SHIFT THAT INTO A FUTURE YEAR AND WE'VE STILL GOTTA DEVELOP A SCOPE FOR THAT MILLION DOLLARS TALKING ABOUT MP NINE, CT 25 28 GTA IMPROVEMENTS GONNA SHIFT A COUPLE HUNDRED THOUSAND.
AND THAT'S BEEN SPENT, RIGHT? MOST OF THIS ONE, UH, WELL THIS ONE, NO, THIS ONE, THIS ONE WE'VE ONLY BEEN SPENT, WE'VE SPENT ABOUT, UM, 300,000.
WE'VE GOT ABOUT ANOTHER A HUNDRED THOUSAND LEFT IN WHAT'S BEEN APPROVED ON THIS PROJECT.
THIS OUT HERE, OUT HERE IN FRONT OF IT.
UM, THE, THE NEXT ONE IS MP 19 RIGHT NOW WE HAVE, UM, YOU KNOW, ORIGINALLY OUR, OUR MASTERMIND HAD THIS PROJECT A LITTLE BIT MORE AGGRESSIVE AS FAR AS TIMELINE.
NOW GIVEN, UH, THE OVER BUDGET BID WE RECEIVED AND THE PROCESSES WE'RE GOING THROUGH RIGHT NOW TO KIND OF BRIDGE THAT GAP, WE THINK THIS PROJECT IS GONNA SHIFT MORE INTO 2026.
UM, AND SO WHAT WE WERE LOOKING AT IS THE, IN THE 2025 COLUMN FOR MP 19, YOU SEE THERE'S, UH, A MILLION, UH, 2000 IN, IN THE FUNDING OPS COLUMN.
THAT'S DEFINITELY NOT GONNA OCCUR THIS YEAR.
IT'LL, IT'LL OCCUR IN 2026 BASED UPON WHERE THE PROJECT TIMELINE IS CURRENTLY.
JEFF, JEFFREY, WHAT DOES SCP, WHAT IS THAT? IT SAYS SCP IS THE TYPE OF, IT'S THE ACRONYM FOR THE GRANT FUNDING.
IT'S THE SEAPORT CONNECTIVITY PROGRAM.
WHICH THE WALKWAY, RIGHT? IT'S THE WALKWAY PROJECT.
YEAH, THE WALKWAY ALSO, UM, WE TALKED ABOUT THIS BEFORE ABOUT, UM, THE CONVERSATION WITH TECH STOCK AND POSSIBLY COMBINING TWO PROJECTS TO GET THIS ONE DONE BECAUSE THE WEST END, YOU KNOW, WE HAVE THAT ONE PROJECT OUT THERE AND SO WE'VE GONE BACK AND HAD MADE A FORMAL REQUEST TO TDOT TO UTILIZE FUNDS FROM THAT ONE IN THIS ONE.
AND SO WHERE THAT IS RIGHT NOW IS THAT WILL HAVE TO GO TO, UM,
AND SO NEXT TIME TRANSPORTATION COMMITTEE THAT MEETS, THEY WILL TAKE THAT UP AND, AND, AND WE'VE BEEN TOLD, YOU KNOW, BASICALLY THAT, YOU KNOW, YOU, THAT T DOT MARITIME SUPPORTS IT.
AND SO THEY'LL MAKE, THEY'LL MAKE A FORMAL RECOMMENDATION TO THE, TO THE TRANSPORTATION COMMITTEE TO ALLOW US TO COMBINE THIS PROJECT RAISES A QUESTIONS IN MY MIND.
UH, NUMBER ONE, THE BOARD APPROVES GRANT APPLICATIONS
[00:55:03]
AND AWARDS, ACCEPTS AWARDS OF GRANTS.DOES THE BOARD HAVE ANY RESPONSIBILITY TO TONY, WE'RE NOW AMENDING THIS, BUT WE APPROVE, HE MENTIONED WE'RE GONNA TAKE SOME FROM THE WEST END, MOVE IT HERE.
I DON'T EVEN KNOW WHAT THE AMOUNT IS.
WELL, I WOULD THINK ARE, ARE WE REQUIRED TO APPROVE AMENDMENTS? I WOULD THINK SO.
ONCE WE GET A A, A PROPOSED AMENDMENT THAT'S AGREEABLE WITH TDOT, THEY CAN THEN BRING IT TO THE BOARD.
WELL, BUT MAYBE THE BOARD DIDN'T EVEN WANT TO DO THE TAKE MONEY FROM THE WEST END TO 25TH STREET.
YOU KNOW, WE'RE DOING A LOT OF WORK.
IF WE'RE REQUIRED TO ULTIMATELY APPROVE IT, WE OUGHT TO BE ON, ON THE FRONT END.
I DON'T KNOW HOW MUCH MONEY WE TALKING ABOUT.
WE DIDN'T ASK THE FUND APPROVAL, BUT WE'VE BEEN TALKING ABOUT THE LAST TWO MONTHS.
HOW MUCH MONEY WE'RE TALKING ABOUT MOVING TO MAKE THIS POINT.
IS THAT WHAT IT'S, I THINK IT'S, UH, YEAH, IT'S, IT'S ON RIGHT, RIGHT AROUND THERE.
UM, AND AGAIN, I'M JUST ASSUMING THAT THE WEST END PROJECT WE'RE TALKING ABOUT IS THE SLIP FILM BUCKHEAD PROJECT? NO, IT'S 33RD FIRST STREET.
IT PAYS THE ROAD CONNECTIVITY FUND.
WHICH SEPARATE FROM THE, THE OTHER MIP AND THAT, THAT IS GO AHEAD.
IF WE GO DOWN THIS TRAIL TO DO THAT, WILL THAT COMPLETE THE WALK OVER UNDER WHAT WE ORIGINALLY TALKED ABOUT CONNECTING IT TO AND HAVING IT ALL THE WAY ACROSS PROPERTY WHERE WE WANT IT TO LAND.
AND BECAUSE AT SOME POINT WE'RE TALKING ABOUT CUTTING IT SHORT TO MAKE THE NUMBERS WORK.
THE PLAN WE HAVE RIGHT NOW THAT YOU'VE SEEN AND, AND YOU SEE AGAIN PROPERTY AGAIN TODAY, THE PICTURES OF IT IS, UH, WHERE IT GETS CUT SHORT ESCALATORS, RAMP ELEVATORS ON THE OTHER SIDE, AND THEN ON THIS SIDE'S NO RAMP, BUT ESCALATORS AND ELEVATORS AND IT, IT, WE STILL ARE GOING THROUGH, THAT'S PART OF THE TIMING CHANGES BECAUSE WE'RE STILL GOING THROUGH THE, UM, THE VALUE ENGINEERING.
WE'VE GONE BACK TO THE, WE'VE GONE BACK TO THE ARCHITECT HARD TO VALUE ENGINEER 40%
AND SO WE THINK, WE THINK THERE'S A NUMBER THERE.
YOU KNOW, WE THINK THERE'S A NUMBER THERE THAT'S, THAT'S WE CLOSE TO WHAT WE WOULD'VE PUT OUT POCKET ANYWAY.
AND SO THAT'S WHAT WE'VE GONE BACK TO THEM AND SAID, WE NEED TO GET THIS THING DOWN.
'CAUSE YOU KNOW, IT CAME IN AT 10, WE SAID WE NEED TO GET THIS SOMEWHERE AROUND EIGHT.
AND YOU KNOW, UM, SO WE USED THAT OXYMORON, VALUE ENGINEERING AND, UH, OUR YOUTUBE MASTER VALUE, LIKE VALUE LAWYER, LAWYER TAKE, TAKE THE HEAT OFF THE ATTORNEYS HERE.
UM, ANYWAY, WHAT'S GOING THROUGH MY MIND IS WHEN WE NEED TO END UP WITH A PROJECT THAT IS TRULY USEFUL FOR WHAT WE WANT, I DON'T WANT TO BE SPENDING A MILLION OF OUR MONEY IN FOUR OR 5 MILLION OF T OUTS MONEY TO HAVE A PROJECT THAT, THAT FIT WHAT WE WANT DONE.
NUMBER TWO FOR A MILLION DOLLARS.
WE CAN PAY A LOT OF PART-TIME COPS TO WALK PEOPLE ACROSS THE STREET OVER THE NEXT FEW YEARS THAT, YOU KNOW, I'M JUST TRYING TO BACK IN MY MIND, IS THIS A LEGITIMATE PROJECT THAT WE OUGHT TO DO? I KNOW WE GOT THE INFRASTRUCTURE IN PLACE, BUT WE DIDN'T SPEND AS MUCH ON THE INFRASTRUCTURE.
AND SO I DON'T, YOU KNOW, THAT'S, I'M TO THE POINT OF DO WE SAY, HEY, WELL, DO YOU WANT TO GIVE THE MONEY BACK? THAT'S, THAT'S ONE OF THE ISSUES YOU GOT HERE.
I MEAN I, I CERTAINLY, IF WE DON'T USE THE MONEY FOR THE INTENDED PROJECT, THEY GET TAKE IT BACK AND WE GO FISH FOR IT AGAIN.
BUT, YOU KNOW, IT'S STILL A MILLION AND YEAH, I GUESS IF IT'S A MILLION DOLLARS HERE, IT'S GONNA END UP MORE THAN THAT.
'CAUSE TEXTILES GONNA COME BACK AND SAY, YEAH, WE'LL GIVE YOU SOME MONEY MOVEMENT, BUT YOU GOTTA PUT UP ANOTHER HALF A MILLION LOCAL TO INCENTIVIZE US TO DO THAT.
AND IT'S JUST, WE'RE GONNA END UP PAYING MORE EITHER FOR THIS PROJECT OR CONTRIBUTING MORE FOR THE ROAD REPLACEMENT WHEN IT COMES TIME.
UM, THAT BEING KIND OF A FOCAL POINT FOR CREWS AND TRAVEL, UNFORTUNATELY IT, THE, THAT GARAGE DOESN'T PARK A LOT AS FAR AS I KNOW OF THE CRUISERS.
NOW, IF IT HAD TWO STORIES ON TOP OF THAT, THEN YOU'RE TALKING ABOUT BEING ABLE TO USE THAT WALKWAY FOR HIGHEST AND BEST USE AT THAT POINT.
AND I KNOW THAT JEFF'S NOT A BIG PROPONENT OF ADDING TWO STORIES ONTO THAT PARKING GARAGE, BUT YOU KNOW, THAT'S, IT'S A CONS.
IT'S, IT'S SOMETHING WE SHOULD PROBABLY CONSIDER BECAUSE THEN YOU'RE USING IT TO ITS FULL POTENTIAL.
WELL, ANOTHER THING YOU HAVE TO ALSO REMEMBER IS WE'RE NOT SERVICING OURSELVES.
WE'RE SERVICING ALL THIS EVERY HERE THAT, THAT, THAT PARKS AND WALK THIS WAY.
AND WE'RE TRYING TO MAKE A PATTERN FOR THEM VERSUS WALKING OUT HERE ON HARBORSIDE DRIVE AND BRING THEM ACROSS.
THAT'S ANOTHER PARKING YOU SAID THIS, THESE ALL THIS PARKING ALONG THROUGH HERE, YOU KNOW, YOU KNOW, ALL THEY DO HAVE TO DO IS NOW IS WALK THIS
[01:00:01]
AND GO OVER.SO THEN THERE'S ALL THESE LOTS BACK HERE.
YOU'D BE, YOU'D BE SURPRISED ON CRUISE DAYS, EVEN THOUGH SHUTTLES ARE AVAILABLE.
SO THIS IS, IT DOES FEED AND THEN ALSO FROM, FROM OUR STANDPOINT, AND YOU, WHEN YOU GO DOWN HERE ON CRUISE DAYS, TAKE A LOOK WHAT'S GOING ON DOWN HERE ON, ON THE STRAND.
SO THIS, THIS PLACE IS PACKED UP.
AND THIS IS COME DOWN, THIS IS BEFORE PEOPLE GETTING ON THE CRUISES AND THEN PEOPLE COME OFF THE CRUISES AND COMING BACK OVER HERE, SPENDING TIME HERE.
I MEAN OBVIOUSLY WE HAVE CON WE, IT'D BE NICE IF THE MASTER PLAN DID SHOW ANOTHER OVERHEAD WALKWAY FURTHER DOWN, WHICH WOULD BE GREAT.
YOU KNOW, WHICH, WHICH I THINK ANOTHER THING WOULD BE GREAT IS IF WE CAN GET SOME OUTTA HERE ON THE SEA WALL BECAUSE THAT'S, YOU KNOW, THAT'S, THAT'S PRETTY TOUGH OUT THERE.
I MEAN, I, I CAN GRANT, I MEAN I KNOW THAT'S NOT
AND THEN JEFF, THE, UH, THE BID CAME IN AROUND 10 BILLION.
WE'RE NOW LOOKING ON THE SHORT PROJECT OF 4.8.
IS THAT WHAT WE'RE LOOKING AT? WELL, WE'VE GONE BACK FOR VALUE ENGINE.
THE FOUR, 4.8 ON THIS IS, DOES NOT REFLECT THE BIDS WE RECEIVED.
THAT WAS THE ORIGINAL PROJECT.
SO WHEN WILL WE KNOW ON THE VALUE ENGINEERING THAT THAT'S GONNA BID? SO, SO WE RECEIVED A, A LIST OF OPTIONS WE COULD LOOK AT WITH FROM JUST, JUST RIGHT.
AND WE HAVEN'T BEEN ABLE TO GO THROUGH 'EM ALL.
SO, SO I'D SAY IN THE NEXT MONTH WE WILL HAVE A LOOK AT WHAT, WHAT REALLY OPTIONS WE HAVE.
UM, MY CURSORY LOOK IS IS THAT SOME OF THE BIGGER WAYS YOU SAVE MONEY ON THE PROJECT IS BY REMOVING AN ESCALATOR OR PHASING IT TO A LATER DATE.
UM, BUT, BUT I THINK THERE'S OTHER THINGS THAT WE CAN LOOK AT AS, AS WELL AS PHASING OR MAYBE TRYING TO SELF PERFORM SOME OF THE CIVIL TASKS.
UM, THOSE ARE GONNA BE SOME OTHER, BUT, BUT I DON'T HAVE A FULL REPORT FOR YOU TODAY BECAUSE I HAVEN'T PULLED JEFF.
LET'S, LET'S TAKE ONE STEP BACK AND SAY, OKAY, WE'VE GOT 4.9 THAT HAS BEEN ALLOCATED TOWARDS THE WALKWAY, RIGHT? RIGHT, MM-HMM
AND SO OF THAT 4.9 THEY'VE GIVEN US 3.6, RIGHT? CORRECT.
SO THEN WE HAVE POTENTIALLY, UM, A $1.9 MILLION PROJECT FROM, I MEAN, IT'S A 2.6, IT'S A $3 MILLION PROJECT.
THREE POINT THAT SITS ON THE BOOKS IS $3 MILLION PROJECT, WHICH WE HAVE 1.9 MILLION FROM TEXTILES TO COVER.
SO THAT MEANS IF WE WERE TO MOVE THE 1.9 THEN TO, TO THIS PROJECT HERE, THEN WE WOULD ALSO BE SAVING THAT PROJECT TO LATER, WHICH THROUGH OUR CONVERSATIONS WITH MARITIME TXDOT, THEY HAVE NO PROBLEM WITH US MOVING THAT PROJECT AND, AND, AND STAGING THAT PROJECT LATER.
AND SO IF YOU HAVE ON THE BOOKS, YOU HAVE THAT 3 MILLION, CORRECT? CORRECT.
SO THAT WAS 1.1 THAT YOU WERE GOING TO HAVE TO SPEND TO DO THAT PROJECT UNDER THE, UNDER THE SEAPORT CONNECTIVITY FUND.
AND SO NOW ALL OF A SUDDEN YOU, YOU GO BACK TO THE 75% AT 1.9, RIGHT? MM-HMM
SO THE PROJECT DROPS FROM 3 MILLION DOWN TO THE, THE 1.9, WHICH EQUALS 2070 5%, RIGHT? CORRECT.
SO NOW YOUR PROJECT IS, IT'S JUST ROUNDED AT TWO.
SO YOUR PROJECT'S ROUGHLY TWO AND A HALF MILLION NOW.
SO YOU'VE SAVED BY MOVING THAT PROJECT LATER ON OR, OR DOING THAT PROJECT UNDER A DIFFERENT PROGRAM OR A DIFFERENT TIMEFRAME, THEN YOU MOVED WHAT YOU WERE GONNA SPEND ANOTHER 600,000 ANOTHER, LET'S JUST SAY 500,000 BECAUSE YOU WERE GONNA DO THAT PROJECT.
SO YOU SAVED 500,000 ON YOUR, OFF YOUR BUDGET.
AND YOU, AND YOU, SO YOU BROUGHT 1.9 TO THE TABLE, BUT YOU STILL HAVE TO COME UP WITH YOUR MATCH ON THAT.
SO YOU, SO YOU SAVED, YOU'VE GONE FROM 3 MILLION ON ONE PROJECT DOWN TO TWO AND A HALF MILLION ON ANOTHER PROJECT.
SO YOU SAVED THAT 500 BY NOT DOING THAT PROJECT NOW, BUT THEN YOU ARE BRINGING THE 1.9 IN TO THIS PROJECT.
SO NOW YOU'RE AT WHAT, UH, 5 3 4 5, 5 0.5, RIGHT? YEAH.
AND YOU'VE, YOU'VE SAVED 500,000.
I MEAN, IT'S LIKE, YOU KNOW, GOING IN AND SAY THERE WAS A BIG SALE AT THE STORE, YOU KNOW, I SAVED 500,000.
WE REALLY DIDN'T SAVE 500,000 BECAUSE WE DIDN'T SPEND IT.
BUT, BUT ON OUR BOOKS, WE'RE SHOWING THAT PROJECT CORRECT.
SO WE SAVED A LITTLE BIT OF MONEY BY NOT DOING THE PROJECT NOW AND TAKING THE 1.9 AND BRINGING IT OVER TO THIS PROJECT, WHICH IS REALLY NOT 1.9, IT'S REALLY 6 MILLION BECAUSE YOU STILL HAVE YOUR MATCH.
SO YOU'RE NOW SITTING AT $6 MILLION
[01:05:01]
IN GRANT FUNDS FROM THE TWO PROJECTS FOR THE WALKWAY.AND THEN YOU, YOU HAD A $10 MILLION, UH, BID THAT WE'RE TRYING TO DOWN.
SO WE'RE TRYING TO GET THAT DOWN TO EIGHT.
SO THEN YOU WOULD BE, WILL STILL BE OUT OF POCKET 2 MILLION, 2 MILLION PLUS YOUR MATCH, PLUS YOUR, YOU GOTTA PUT YOUR MATCH IN THERE.
AND NOW THAT 2 MILLION, UM, JEFF, WHAT WE'VE BEEN TALKING ABOUT INTERNALLY IS OKAY, UM, WE HAVE A CERTAIN AMOUNT OF TIME WE HAVE TO LET THOSE PROJECTS CORRECT.
EITHER THAT OR WE DON'T DO 'EM, ASSUMING, WHICH I'M, MAYBE THE BOARD WANTS TO VOTE NOT DOING IT, I DON'T KNOW.
BUT, SO THEN WE HAVE A CERTAIN AMOUNT OF TIME THAT WE HAVE TO PUT THESE PROJECTS UNDER CONTRACT.
AND, UM, WE, IS THERE PLACES IN THERE THAT WE CAN IN FACT, DO SOME OF THE WORK HERSELF, COME BACK LATER IN THAT AN ASK ESCALATOR OR DO WE BIKE THE BULLET AND GET THIS PROJECT DONE? YOU KNOW, THAT'S, AND THAT'S KIND OF WHERE I'M AT, IS, YOU KNOW, AS WE GO DOWN MORE OF THE CAPITAL PROJECTS, WE'LL SEE THAT THERE'S ADDITIONAL SAVINGS IN HERE.
AND SO, YOU KNOW, I, I FEEL LIKE LET'S GET THIS THING DONE.
IT'S GONNA COST US A LITTLE BIT MORE MONEY OUT OF POCKET, BUT WE'RE AT OUT, WE'RE, WE'RE ABLE TO PICK ANOTHER $2 MILLION UP, ASSUMING THE TRANSPORTATION COMMITTEE GOES TO DO IT.
AND ROGER, WHAT'S THE TIMING OF THAT BOARD VOTE? JULY.
YOU KNOW, I DON'T KNOW WHEN THE NEXT MEETING, WHEN THEIR NEXT MEETING IS.
HOPEFULLY I'LL HOPEFULLY WRAP IT UP.
OKAY, JEFF? YEAH, I WAS JUST GONNA SAY, HAD THE GOOD DISCUSSION.
I MEAN, TO ME, I AGREE WITH YOU, ROGER.
'CAUSE WE'VE SAID THIS IS A CRITICAL ISSUE, CRITICAL SAFETY ISSUE.
IF WE SAY WE'RE NOT GONNA DO IT, WE NEED TO HAVE ANOTHER SOLUTION.
AND I DON'T KNOW THAT, YOU KNOW, TEMPER KEEPING PEOPLE WALKING ACROSS THAT ROAD IS A GOOD SOLUTION.
OR AT LEAST WE CONVINCED OURSELVES THAT WASN'T A GOOD SOLUTION.
SO TO ME, WE NEED TO, I THINK WHAT YOU GUYS ARE DOING IS GETTING IT DOWN TO A REASONABLE, I MEAN, PERSONALLY, I COULD SUPPORT YOU GET IT DOWN TO $8 MILLION THEN AND, AND GET, GET THE FUNDING THAT YOU'VE TALKED ABOUT.
I MEAN, TO ME, I'D SAY LET'S MOVE FORWARD AND GET IT DONE.
UH, 'CAUSE WE NEED A PER, WE NEED A BETTER SOLUTION TO THIS INTERSECTION.
UH, AND THE LONGER WE PUT IT OFF, AND THE LONGER WE TRY TO, YOU KNOW, GET SOMETHING SCALED DOWN TO WHERE IT DOESN'T WORK, WE NEED TO, WE NEED TO DO ENOUGH SCOPE IN THERE THAT IT'S A MEANINGFUL SOLUTION TO THE PROBLEM.
AND I THINK WE JUST NEED TO MOVE FORWARD AND GET IT DONE, MAYOR.
I I WAS JUST GONNA SAY WE, THAT'S THE DISCUSSION.
I MEAN, YEAH, THAT'S THE PARAMETER.
THAT'S THE THING ARE ON THE TABLE.
SO, I MEAN, OBVIOUSLY WE STILL HAVE OTHER ISSUES THAT WE HAVE TO TALK ABOUT WITH TTO BEFORE WE COME BACK TO THE, TO THE BOARD WITH A SOLUTION.
SO, AND YOU KNOW, I I JUST WANT TO GIVE YOU THE COMPONENTS OF WHAT CAN LOOK LIKE.
AND THEN, SO WE WILL, WE CAN COME BACK LATER ON AND TALK ABOUT IT FURTHER, IF THAT'S OKAY WITH YOU GUYS.
I MEAN, IF NOT MAYOR THAN WILLIE, YOU KNOW, IN MY MIND THE, THE MAIN REASON IS WE WANT TO MOVE INDIVIDUALS ACROSS HARBORSIDE AT THAT 25TH INTERSECTION.
IF WE'RE GONNA DO IT, WE NEED TO DO IT THE RIGHT WAY TO MOVE THOSE PEOPLE.
IF WE DON'T, THEN WE'RE GONNA HAVE A BOTTLENECK DOWN THERE AND IT'S GOING TO BE TURNED INTO A MORE OF A PROBLEM POSSIBLY THAN WE HAVE NOW.
SO, YOU KNOW, IF WE'RE GONNA DO IT, WE NEED TO DO IT AND PUT EVERY BIT OF FOCUS ON MOVING THOSE PEOPLE ACROSS THAT STREET.
IT'S ONLY GONNA GET BIGGER AT 25 OR 28.
IT'S ONLY, THERE'S ONLY GONNA BE MORE AND MORE PASSENGERS THERE.
MY QUESTION IS, MAYOR, THIS IS A LITTLE BIT OUTSIDE THE BOX, BUT ARE WE ABLE TO ACCEPT A MILLION DOLLAR GIFT FROM PARK BOARD? THOSE ARE, YOU SAY PEOPLE, BUT THOSE ARE TOURISTS.
THEY'RE ALL TOURISTS THAT, THAT WALK ACROSS THERE.
WOULD THAT BE SOMETHING THAT THEY WOULD WANT TO GET IN ON? GREAT.
WELL, LET, LET ME PUT IT THIS WAY, WE'RE ALREADY HEARING THAT WE, AS YOU KNOW, WE'VE TAKEN THE TWO PARKS AWAY BACK TO THE CITY THAT IS THEIR MONEY MAKERS OVER THERE.
I'M ALREADY HEARING THAT THEY'RE CUTTING THEIR BUDGET FOR THIS COMING YEAR, THREE AND A HALF MILLION DOLLARS TRYING TO MAKE IT WORK.
SO, UM, LET'S PUT IT THIS WAY.
I DON'T THINK THEY HAVE THE RESOURCES TO DO IT, BUT THAT WOULD BE YEAH, ALWAYS REFERRING TO IS HOT, HOT, HOT OR JUST, YES, IT'S, IT'D BE A WHILE BEFORE ALL THE PAPERWORK WE BE DONE BEFORE WE DO IT, BUT A GIFT WE COULD ACCEPT THAT OVERNIGHT.
IT SOUNDS LIKE RICHARD, UM, THIS, THIS MAY SOUND LIKE
I I THINK THE FACT THAT IT'S THERE NOW AND WE'VE CONTEMPLATED
[01:10:01]
MAKING IT WORK HAS LED US TO NOT FIX THE SURFACE CROSSING APPROPRIATELY FOR 10 YEARS.YOU KNOW, I THINK PERSONALLY I THINK WE SHOULD FOCUS ON FIXING THE SURFACE CROSSING.
YOU'RE JUST TALKING ABOUT HOWEVER MANY FEET IT IS ACROSS THE HIGHWAY.
IF, IF, IF ONE OF THE SOLUTIONS IS TO BRING IT DOWN AFTER YOU GET OVER THERE, YOU'RE NOT REALLY DOING NOTHING, BUT BRINGING PEOPLE ACROSS THE HIGHWAY, BRINGING 'EM DOWN, I THINK WE SHOULD MAKE IT A REALLY ATTRACTIVE SIGN FOR THE DOWNTOWN AREA AND, AND FORGET ABOUT THE WALKWAY.
WELL, YOU, YOU MAY NEED TO DO BOTH.
YES,
UH, IF WE CAN FIX, AND I THINK WE CAN FIX UP THE CROSSING THERE TO MAKE IT SAFE AND ATTRACTIVE AND EASY FOR PEOPLE TO GET ACROSS THE STREET AND SAVE SOME MONEY.
IF AND WHEN WE GET THE WALKWAY OPERATIONAL AND IT'S DONE, ARE WE SHUTTING OFF ANY AID ENTRY AT 25TH FOR PEDESTRIANS? YES, THAT'S THE PLAN.
I MEAN, THE PLAN IS TO SHUT THAT DOWN.
THEY'LL FORCE THEM TO TAKE THE BOAT AWAY.
BECAUSE IT'S JUST GONNA BE, I MEAN, YOU'RE STILL TAKING PEOPLE ACROSS UPGRADE WHERE CARS BUILT.
NUMBER TWO IS, UM, AGAIN, I DON'T WANT TO SPEND, I WOULDN'T SPEND MONEY OF THAT MAGNITUDE IF IT DIDN'T DO WHAT WE FULLY INTENDED.
I'D BE REAL INTERESTED, WHAT ARE WE GIVING UP FOR GOING FROM 10, WHICH IS THE UTOPIAN PERFECT FIT TO 8 MILLION? WHAT ARE WE GIVING UP? AND UH, YOU KNOW, WITH RESPECT TO TRANSFERRING MONEY AND SAVING A HALF MILLION ON PAPER, YOU DON'T LAY THAT PROJECT A COUPLE YEARS.
YOU'RE GONNA HAVE INFLATION ON THAT THING THAT'S GONNA EAT A GOOD PART OF THAT HALF MILLION UP, UH, WHEN YOU FINALLY GET AROUND TO DOING A PROJECT THAT YOU'RE QUOTE ROBBING MONEY FROM.
SO I DON'T THINK IT'S A REASONABLE SAVINGS.
MY MY CONCERN, UM, IS FORCING PEOPLE TO USE IT AND WE CAN PUT GREAT FACILITY AVAILABLE IF THEY'RE NOT GONNA USE IT.
AND I WORRY ABOUT AN ESCALATOR AND THESE ELEMENTS BECAUSE IT'S GONNA BE A PROBLEM.
I MEAN, I KNOW WE HAVE TO HAVE THAT, BUT, UM, AND I THINK SOMEWHERE ALONG THE WAY, SOMEBODY SAID WE WERE GONNA TAKE OUT SORT OF A MANUAL RAMP.
DID I GET THAT CORRECTLY OR IT SO FAR? NO, I MEAN I, WE HAVEN'T THOUGHT OF THAT AS A PROPOSITION.
'CAUSE THAT'S THE ONE THING THAT'S A VERY ROBUST THING.
UM, SO, YOU KNOW, I HEAR WHAT EVERYBODY'S SAYING AND IT IS THERE AND WE COULD MAKE IT WORKABLE, BUT NONE OF THAT MATTERS IF PEOPLE DON'T USE IT.
IF THEY'RE GONNA STILL CONTINUE TO DRIVE ACROSS, BUT THERE'S NO SIDE, ALL THAT SORT OF STUFF.
SO I'D REALLY LIKE TO SEE HOW WE'RE GOING TO FORCE PEOPLE TO USE STUFF FOR THEIR OWN SAFETY.
WELL, YOU'RE GONNA, YOU'RE GONNA CLOSE THE GATE, RIGHT? YOU'RE GONNA CLOSE THE GATE, SO THERE'S NO WAY TO GET IN OH, GREAT.
AND THEN YOU, YOU'RE BUILDING A, ON THE OTHER SIDE, YOU'RE BUILDING A, UH, LANDING AREA AND IT'S TAKING, UM, IT'S ALLOWING PASSENGERS TO, WHEN THEY COME DOWN, STYLE TRAFFIC, AND THIS IS EVEN THE TRAFFIC THAT WE HAVE OR OVER THERE, GET A PASS THE TRAFFIC.
THIS, THIS IS ONE OF THE THINGS THAT WE, WE HAVE NOT FOCUSED ON VERY MUCH, IS HAVING PEOPLE WALK OVER ONCE THEY GET OVER THERE, THERE'S AS MUCH DANGER ON THE INSIDE OF THE TERMINAL AS THERE IS ON THE, ON HARBORSIDE DRIVE.
AND WE, AND I WILL TELL YOU THIS IS THE BIG THING WE'VE TALKED ABOUT INTERNALLY A LOT IS ALL WELL AND GOOD TO GET A, GET EVERYBODY WALKING ACROSS HARBORSIDE DRIVE.
BUT ONCE YOU GET TO THE OTHER SIDE, YOU KNOW, IT'S TRAFFIC.
AND I THINK THE ISSUE, WE ALL GOTTA REMEMBER THE, THE BIGGEST BY HAVING PEOPLE WALK, ONCE THEY GET ACROSS HARBOR SIDE, WALKING ACROSS ALL THAT MIX MASTER OF ROADWAYS, WE BLOCK, WE END UP BLOCKING OUR OWN TRAFFIC AND PUSHING IT BACK OUT ONTO HARBOR SIDE.
SO PART OF THIS AND ENFORCEMENT THERE IS, IS, IS, IS A PROCESS.
IT'S NOT ONLY SOLVES THE HARBOR HARBORSIDE ISSUE, BUT IT ALSO, I SAY GREATLY OR SIGNIFICANTLY IMPROVES THE INTERNAL TRAFFIC FLOW TO THE PAST.
SO I THINK IT'S A WIN-WIN, GETTING PEOPLE NOT TO WALK ACROSS HARBORSIDE AND OUR INTERNAL ROADWAYS.
[01:15:01]
ONE OF THE THINGS THAT REALLY BRINGS UP A GOOD POINT IS, IS THAT, AND, AND I'VE SAID THIS SINCE I'VE BEEN HERE, IS WHAT ABOUT THOSE TWO FLOORS? YOU KNOW, WHAT ABOUT THOSE TWO FLOORS THAT IT CERTAINLY SEEMS LIKE TO ME NOW, TODAY'S CONSTRUCTION, EXCUSE ME, TODAY'S CONSTRUCTION COST WAS NOTWITHSTANDING YEAH, TWO MORE FLOORS ON THIS DECK RIGHT HERE.UM, WOULD CERTAINLY MAKE SOME SENSE.
I THINK IT'S OVER WHAT, 2, 2 50? WHAT DO WE CALL, WE HAVE 300 IN, THERE'S 300, IT'S ABOUT A HUNDRED PER FLOOR, ABOUT A HUNDRED PER FLOOR.
SO WE'D ADD ANOTHER 200 PARKING SPACES AND THEY DUMP YOU RIGHT AT THE LEVEL, WHICH WOULD HELP PAY FOR THE PROJECT ALSO, THEY DUMP YOU RIGHT AT THE LEVEL OF THE, OF THE, OF THE WALKWAY, OF THE WALKWAY ITSELF, THE WAY RIGHT THERE.
AND, AND SUPPOSEDLY, UM, YOU KNOW, THAT WAS BUILT THAT WAY TO HANDLE TWO FLOORS ON TOP OF THAT DECK.
AND THAT WOULD BE A GOOD, THAT WOULD BE A GOOD, UH, EXPANSION PROJECT.
UM, YOU KNOW, IF IT CAN BE DONE RIGHT.
YEAH, I KNOW JEFFREY HAS RESERVATIONS ABOUT, YOU KNOW, PUTTING TWO MORE FLOORS ON THERE AND, AND HAVING AND USING THE EXISTING STRUCTURE TO DO THAT.
UM, WOULD YOU HAVE TO CREATE A NEW SUPPORT STRUCTURE FOR TWO MORE FLOORS? YEAH.
THE BIGGEST THING ABOUT THAT, AND THEN I'LL POINT OUT IS THAT THE EXISTING VESTIBULE THAT WE SEE OUT HERE ON 25TH STREET IS ACTUALLY ON TOP OF THE GARAGE STRUCTURE.
AND SO IN ORDER TO COME UP, IF, YOU KNOW, WE WORK THROUGH ALL THE FEASIBILITIES OF IT, YOU'D HAVE TO REMOVE THAT STRUCTURE ANYWAYS TO COME UP WITH TWO MORE FLOORS.
FLIP SIDE IS THE CHAIR DOWN? YEAH.
THE FLIP SIDE, CARRY GARAGE DOWN.
CAN YOU PUT YOUR PORT OFFICES ON THAT TOP LEVEL? WE SHOULD PUT A NEW GARAGE OVER THERE.
CAN YOU PUT YOUR PORT OFFICES ON? TAKE THAT FIRST, THAT TOP LEVEL OF PARKING OFF, OUT OF COMMISSION.
ARE WE, ARE WE SPINNING OUR WHEELS? SHOULD WE JUST BUILD A PARKING GARAGE ON THE NORTH SIDE? RIGHT? AMEN.
SHOULD WE JUST LOOK SERIOUSLY AT PUTTING A PARKING GARAGE ON THE NORTH SIDE AND JUST MOVE ALL THOSE CARS AND PEOPLE NORTH SIDE? WELL WE, AND WE DO.
WE WE WE'RE, THAT IS IN PART OF THE PLAN, BUT I, I WOULD SAY THAT THIS IS A MULTI-USE GARAGE.
I MEAN, YOU, YOU BE SURPRISED HOW MANY PEOPLE THAT COME INTO THE STRAND HERE USE THIS GARAGE.
THE MARY'S STILL HAVE A PROBLEM WITH THE PRIVATE LOTS.
MOST THE PEOPLE CROSSING OR PRIVATE ARE NOT OUR CUSTOMERS.
WELL, YOU KEEP DOING IN THE PARKING GARAGE, YOU KNOW, THE SURFACE PARKING WELL, I MEAN THE SURFACE CROSSING.
I DON'T, VIC I WOULD, I WOULD HAVE TO SAY THAT THEY ARE OUR CUSTOMERS IF THEY'RE GOING TO THE CRUISE TERMINAL.
BUT THEY'RE NOT OUR COLLECTING CUSTOMER.
WELL, I UNDERSTAND THAT, BUT THEY'RE SAFELY PLENTY FOR EVERYBODY.
WELL, I MEAN, WE, WE CAN MOVE ON.
I THINK IT'S CONTINUE DISCUSSION, RIGHT? I MEAN, I WOULD LIKE, THE ONLY THING I'D SAY I'D LIKE SOME FOLLOW UP FOR ME AS MY RESPONSIBILITY ON GETTING STAFF AND TONY'S INPUT ON A PROCESS THAT WOULD ALLOW US TO HAVE, IF WE'RE LEGALLY REQUIRED TO SIGN OFF ON AMENDMENTS AND STUFF, WE NEED TO WORK ON OUR INTERNAL PROCESS TO COURT FOR THE, YOU'RE REQUIRED TO DO IS IS ACTUALLY AFTER THE GRANT IS GRANT IS GIVEN TO US AND THERE IS A SIGN OFF ON A RESOLUTION TO ACCEPT.
HOW, AND THAT'S PART OF THE, A FFA UH, AGREEMENT.
WHAT'S OUR TIMELINE, ROGER, ON THIS WALKWAY? WHEN IS THE THING EXPIRED ON THAT? SO THAT'S, YOU KNOW, THE, THE EXPIRATION.
SO, AND THE WAY TDOT MEASURES THAT IS WHETHER OR NOT YOU LET OR LET YOU KNOW, RECEIVE YOUR BIDS BY A CERTAIN DATE, BUT WE CHECKED THAT BOX BY RECEIVING OUR BIDS BY A CERTAIN DATE.
SO RIGHT NOW WE'RE IN A PROCESS OF KIND OF, THAT'S PART OF THIS LETTER IS WE'RE SAYING, HEY, THIS IS, THIS IS WHAT WE'RE DOING TO TRY AND RECTIFY THE, THE BUDGET DEFICIT THAT WE HAVE ON THIS PROJECT.
AND, AND SO WE'RE IN THIS PROCESS THAT, I DON'T THINK THERE'S A TIMELINE ASSOCIATED WITH THAT PROCESS THAT WE'RE IN RIGHT NOW, BUT WE, WE CHECKED THE BOX OF WE LET THE PROJECT BY THE APPROPRIATE DATE.
CRAIG, I THINK WHAT WE'RE LOOKING AT, BASED ON MY MENTAL CALENDAR FROM WHERE WE ARE NOW TO GET DEPARTMENT APPROVAL, IS IT T PC'S KIND USE? NO, THAT'S, THAT'S THE COMMISSION.
BY THE TIME YOU GET INTERNAL APPROVAL, COMMISSION APPROVAL PAPERWORK, YOU'RE SIX MONTHS, YOU GOT A YEAR AND A HALF TO TWO YEAR PROJECT.
SO YOU'RE LIVING AT TWO AND A HALF YEARS BEFORE YOU'D SEE A FINISHED PROJECT AT THE EARLIEST FROM NOW.
AND THAT TIES BACK INTO RICHARD'S COMMENT, DO WE WANT TO WAIT TWO AND A HALF YEARS BEFORE WE MAKE ANY IMPROVEMENTS TO THAT INTERSECTION? SIMPLER, EASIER,
[01:20:01]
LESS EXPENSIVE STUFF.BUT YOU'RE LOOKING AT TWO TO THREE YEARS FROM NOW TO BE WALKING ACROSS THAT THING.
IT COST AS MUCH NOW, TWO MORE YEARS FROM NOW WITH THE COST THERE WHILE, WELL, I MEAN I I I'M NOT SURE IT'S THAT LONG TO BE HONEST WITH YOU, BUT, UM, BECAUSE WE'RE, WE'VE LEFT, I MEAN WE'VE LEFT THE PROJECTS AND WE HAVE, YOU KNOW, A UM, YOU'RE GONNA HAVE TO REBID IT.
YOU'RE GONNA HAVE TO REBID IT.
WE MAY HAVE TO, I WAS GONNA SAY BY THE TIME WE GET THESE APPROVAL AND PAPERWORK, THAT BID'S GOING TO BE FOUR OR FIVE MONTHS OLD.
OUR BID IS, IS GOOD FOR 60 DAYS ON OUR TYPICAL, AND I MEAN THEY, ARE WE INTO THAT 60 DAYS? YEAH.
AND WE, WE DID FORMALLY REJECT THOSE TWO BIDS BECAUSE THEY'RE OVER OVER.
YOU'RE GONNA HAVE TO REBID THE PROCESS.
I THINK HOW BEST TO, HOW BEST TO DECIDE IF THIS IS A THUMBS UP OR THUMBS DOWN IF WE BRING IT BACK NEXT MONTH FOR A DECISION.
BECAUSE I'M HEARING SOME PEOPLE DON'T WANT TO EVEN PURSUE THIS.
OTHERS SAY, WELL, YEAH, LET'S GO AHEAD AND LOOK AT IT AGAIN, SEE IF THE COST WILL BE WHAT THE TIMELINE WILL BE.
SO SHOULD WE BRING IT BACK AS AN ACTION ITEM? I, YOU KNOW, I PERSONALLY COULD MAKE A MISTAKE.
MY OPINION IS WE'RE MAKE A MISTAKE.
IF YOU, YOU GO BACK TO TDOT AND SAY, WE DON'T WANT YOUR MONEY.
WE, WE DID THAT ONE OTHER TIME WITH THE EDA AND THEN WE'LL GET SOME TIME OF DAY NOW.
I MEAN, I JUST, I THINK THIS IS A, I THINK THAT WOULD BE A FATAL MISTAKE.
BUT, YOU KNOW, THIS BOARD COULD MAKE DECISION.
HOWEVER, I MEAN, HERE AGAIN, TO ANSWER YOUR QUESTION, WE'LL, WE'LL, WE WILL CONTINUE TO RESEARCH THIS AND WE'LL, AND WE WILL BRING BACK TO THE BOARD ONCE WE CAN GET VALUE ENGINEERING, WE CAN PLUG THESE NUMBERS IN AND I MEAN, I KNOW THAT, UH, MARITIME TEXAS, UH, T STOP MARITIME IS, UH, VERY, I MEAN, THEY WANT TO SEE THIS PROJECT DONE LIKE JEFF SAID, YOU KNOW, AND THAT'S WHY THEY CAME DOWN HERE WHEN, WHEN WE WERE DOING THE PRELIMINARY DISCUSSIONS ON IT AND SAID, YOU KNOW, WE'RE CONCERNED, WE'RE CONCERNED ABOUT, I BELIEVE WE'RE CLOSE CLOSER THAN WE'VE EVER BEEN.
BUT, UM, TO WAIT ANY LONGER WOULD JUST, IT WOULD BE THAT MUCH MORE DIFFICULT DOWN THE ROAD.
I THINK YOU JUST FOLLOW YOUR PROCESS, RIGHT? I MEAN, YOU, YOU, WE ARE, YOU GUYS ARE, YOU GUYS ARE GONNA VALUE, YOU'RE GONNA COME UP WITH A COME UP WITH A, THE SCOPE THAT WE, YOU'RE GONNA BRING IT TO THE BOARD AND WE'RE GONNA VOTE YES OR NO.
WE DON'T HAVE ANYTHING ON THE AGENDA.
THAT'S WHY I WAS, SHE WAS TALKING ABOUT SOMETHING NEXT MONTH.
THAT'S WHAT THAT'S WHY I WAS ASKING ABOUT NEXT MONTH.
YOU KNOW, I THINK REALITY IS WE'RE TOO FAR DOWN THE WALKWAY TO TURN BACK A HUNDRED PERCENT.
PROBABLY A BETTER TIME WOULD BE TO HAVE THAT ULTIMATE VOTE.
WHETHER WE MOVE FORWARD IS WHEN THEY GET APPROVAL OR NOT APPROVED FROM, UH, THE COMMISSION.
WE GET THE VALUE ENGINEERING THAT GETS US AN $8 MILLION PROJECT AND WE HAVE ALL THE PIECES WE GIVE UP THINGS WE REALLY THINK ARE IMPORTANT FOR THE 2 MILLION, NOT WORTH IT AND HAVE THAT VOTE AT THAT TIME.
WE, WE GO OUT AND SELL BRICKS.
SO WE'RE, WE'RE GOING TO PROCEED WITH YOUR, YOUR PROCESS AS UM YES.
I LIKE THE CONVERSATION ON A BAKE.
LET'S GO GET SOME MOCK MONEY FOR THIS PROJECT.
AND JUST A SIDE NOTE, GREG, GREG A SIDE NOTE, I BET AT THE END OF THE DAY YOU GET MORE THAN THE TWO CLERK YOU ASK FOR, YOU'RE GONNA GET IT ALL BACK.
MADAM CHAIR, WE, I ASK NO COMMENT AT THIS MORNING.
IF YOU COULD GIVE US THE BOARD AN UPDATE OF THE TIMELINE OF WHEN YOU THINK IF IT JULY, JUNE, WHENEVER THE NEXT MEETING IS.
SO WE HAVE A, IN OUR MIND, WE KNOW WHERE WE CAN AND, AND I'LL TELL YOU, WE HAD CONVERSATIONS MARITIME DAY TEXT OFFICERS DOWN HERE AND WE HAD CONVERSATIONS ABOUT THIS PROJECT AGAIN, SO WE'LL, AND HERE AGAIN, I THINK I, I'M NOT I AT ALL.
I, I DON'T KNOW WHEN THAT, WE CAN PROBABLY FIND OUT WHEN THE NEXT MEETING IS BEFORE THIS MEETINGS OVER.
I I KNOW IT'S JUNE, I BELIEVE SHE SAID AUGUST WOULD BE THE, WHEN THE COMMISSION WAS
WE'RE TALKING ABOUT SEPTEMBER, JUNE.
AND PROBABLY THE OTHER THING IS WHEN YOU, WHEN YOU BRING THAT IS WHAT WOULD BE THE CONSTRUCTION TYPE, THE TIMELINE OF WHEN YOU COULD EXPECT TO START A CONSTRUCTION AND WHEN IT WOULD BE FINISHED.
SO WE COULD KIND OF HAVE A GOOD TECHNICAL INPUT ON WHAT THAT WOULD LOOK LIKE.
I THINK FOR, FROM MY PERSPECTIVE, ANYTHING THAT WE CAN DO TO EXPEDITE THIS TIMELINE, NAME IT.
BECAUSE I, FOR ONE, HAVE FATIGUED OVER THIS PROJECT AND WE TALKED ABOUT IT
[01:25:01]
IN MY VERY FIRST MEETING, WHICH WAS FOUR AND A HALF YEARS AGO.AND HARRY WAS HERE BEFORE THEN AND Y'ALL WERE TALKING ABOUT IT BEFORE THEN.
SO LET'S PULL IT TOGETHER, BRING IT TO THE BOARD, SAY YES, WE SAY NO, WE'VE GOTTA CHANGE THE NAME BECAUSE WE HEARING NOW'S WAS THE DICK PEARSON.
OH, THERE'S, THERE'S THREE MORE PROJECTS I CAN MENTION REAL QUICK.
SO, SO THE NEXT ONE, MP 21, CT 28 PD REPLACEMENTS.
THIS ONE IS, UM, WE, WE HAVE NOT LED ANY CONTRACTS ON THIS ONE EITHER, BUT GIVEN THE 20 YEAR AGE OF THOSE, THEY ARE KIND OF IN GETTING CLOSE TO THE END OF THE USE OF A LIFE.
BUT THE GOOD THING ON THIS PROJECT IS THAT, UM, UH, CREW TERMINAL MANAGEMENT STAFF AND THEIR STAFF HAVE DONE SOME REPAIRS AND THEY'VE FIXED ALL THE, UM, ISSUES THAT WE WERE CONCERNED ABOUT AT THIS POINT IN TIME.
I DON'T THINK THAT MEANS WE DON'T NEED TO GET 'EM, BUT I THINK IT ALLOWS US SOME MORE TIME ON THIS PARTICULAR PROJECT TO, TO KIND OF BE A LITTLE MORE STRATEGIC.
WELL, AND WE, WE KNOW FROM, WE KNOW FROM EXPERIENCE THAT THE 10% DOWN PAYMENT OR WHATEVER IT IS TO GET THE CONTRACT STARTED IS NOT GONNA HAPPEN THIS YEAR.
I MEAN, IT'S NOT GONNA HAPPEN THIS YEAR BECAUSE, YOU KNOW, IT'S, UM, THERE'S ALL, ALL THE WORK TO GET TO THAT POINT WHERE YOU SPEND MONEY AS LONG AS, AS LONG AS BILL DELL AND HIS GROUP HAVE GOT TO KNOW THOSE THINGS LIKE THE BACK OF THEIR HAND.
THEY SPENT A LOT OF TIME WORKING ON THOSE THINGS AND, AND SO THEY'RE FUNCTIONAL AND THEY'RE FUNCTIONAL FOR THE SHIPS THAT ARE COMING IN THERE, WHICH IS KEY WHAT YOU NEED.
SO WHAT WE'RE SAYING IS THAT PROJECT IS GONNA GET PUSHED OFF.
YEAH, THE MILLION THREE WILL NOT BE, THE MILLION THREE WILL NOT BE SPENT THIS YEAR.
AND THEN THE, THE, UH, LAST ONE IN THE MID COURT IS, UH, THE EXPRESS LOT RAIL REMOVAL Y'ALL HAD APPROVED, UM, $2.8 MILLION FOR THIS PROJECT.
AND, UH, WE STILL HAVE SOME OF THAT MONEY ON THE BOOKS.
THE MAJORITY OF IT RIGHT NOW HAD TO DO WITH THE CANOPIES THAT COVERED WALKWAY.
UM, YOU KNOW, AS WE WERE KIND OF GOING THROUGH THAT PROJECT, YOU KNOW, THE ORIGINAL PROJECT HAD A PEDESTRIAN COVERED WALKWAY.
AND SO WE'RE RETHINKING, RATHER THAN INVESTING SO MUCH MONEY INTO JUST A PEDESTRIAN COVERED WALKWAY, CREATING COVERED SPACES OUT OF IT TOO.
AND THAT'S KIND OF WHY THAT WE HAVE NOT STEEPED THAT REMAINING AMOUNT THAT YOU HAD APPROVED.
UM, SO, SO RATHER THAN JUST COVER THE WALKWAY, ALSO COVER SOME SPACES AND ALSO POTENTIALLY PROVIDE A, A HIGHER VALUE PRODUCT TO THE, SO WHERE ARE WE ON THAT, JEFF? SO, SO RIGHT NOW WE WERE LOOKING AT, THERE'S A LITTLE BIT OF WORK WE HAVE TO DO STILL ON, UH, SOME LIGHT POLES TO PUT UP THERE, UH, THIS SUMMER.
BUT THEN REALLY THE, THE WE'RE WE'RE LOOKING AT CONSERVATIVELY SHIFTING A MILLION DOLLARS OUT OF 25 AND, UM, INTO A FUTURE YEAR ONCE WE ARE ABLE TO COMPLETELY IDENTIFY THAT COVERED PARKING PRODUCT THAT WE CAN POTENTIALLY OFFER WITH THAT MONEY HERE, AND WE ACTUALLY DO A LOT OF THAT OURSELVES.
ALL, ALL THE UNDERGROUND WORK WE DID OURSELVES AND THE PAVING
THAT MILLION DOLLARS THAT WOULD DO THE WALKWAY AND THE PARKING SPACES OR JUST, IT'S, IT'S, IT'S, UH, THAT GRADE WALKWAYS THROUGH AND, AND SO IT WAS JUST GONNA BE LIKE A COVERED WALKWAY.
UM, AND SO WE WERE THINKING RATHER THAN FOCUS IT JUST ON THE WALKWAY, WE KIND OF WANT TO REPROGRAM THE SQUARE FOOTAGE AND MAYBE COVER THE SPACES ON EITHER SIDE, BUT THEN WE HAVE TO LOOK AT HOW WE, YOU KNOW, CHARGE THAT AS A DIFFERENT PRODUCT RATHER THAN THE OTHER SPACES AROUND IT.
SO WE'RE WORKING THROUGH A COUPLE OF DIFFERENT THINGS THERE TO TRY AND OPTIMIZE MAYBE, MAYBE RATHER THAN JUST SPEND A MILLION DOLLARS ON CANOPIES, BE ABLE TO INCREASE REVENUE ALSO BY SPENDING ON CANOPIES.
ANY OTHER QUESTIONS, JEFF? YEAH, THERE'S ONE OTHER ONE TOO.
UH, IT'S ON THE WESTPORT, BUT WE ALREADY TOUCHED ON IT AND THAT'S DEPENDING ON WHAT HAPPENS WITH THE OTHER SEAPORT CONNECTIVITY GRANT, THAT WOULD ALSO SHIFT SOME OF THAT MATCH ON THAT PROJECT OUT.
BUT IT WOULD ULTIMATELY BE SPENT ON THE WALKWAY PROJECT, BUT IT WOULD NOT BE THIS YEAR.
SO WP FOUR A WP FOUR A, SO THAT, THAT 654,000 THAT WE HAVE IN 2025 IS LIKELY NOT TO OCCUR THIS YEAR AS WELL.
AND SAME AGAIN, YOU, YOU WERE AT MP 21.
MP 21 IS NOT GONNA HAPPEN THIS YEAR.
MP 21 AND THEN I LEFT THE ROOM.
Y'ALL SHOULD HEY GUYS MY STAR BECAUSE IT WAS ACTUALLY, IT WAS A REALLY GOOD PROJECT FOR US.
UH, WP THREE, WP THREE, THE PIER 41 PAVING.
UM, THAT PROJECT IS, IS GONNA RETURN ABOUT A HALF A MILLION DOLLARS BECAUSE WE DIDN'T, UH, USE ALL OF OUR ALLOWANCE.
WHERE IS THAT? JEFF? UH, WP THREE PIER 41.
UH, IT'S THE, THE WAY THE MASTER PLAN PROJECT IS, IT, IT'S A LITTLE CONFUSING READING THE TITLE, BUT THE MASTER PLAN PROJECT KIND OF SHOWED
[01:30:01]
IMPROVEMENTS GENERALLY TO PIER 38 THROUGH 41.SO WHENEVER WE BROUGHT THE, UM, THE PIER 41 PAVEMENT REPAIRS TO IT, WE BROUGHT IT UNDER THAT MASTER PLAN PROJECT.
THAT'S WHY THE MASTER PLAN PROJECT IS $12 MILLION.
BUT WE ONLY HAVE, UH, ABOUT $6 MILLION OF ACTIVE, UH, UH, PROJECT HAPPENING ON THAT.
YOU SAID YOU RETURNED HOW MUCH? SAID ABOUT HALF, HALF MILLION.
THE, THE SUBGRADE ALLOWANCE, THAT'S SAVINGS.
SO NEXT MEETING, WE'LL BRING THESE BACK FOR A VOTE TO AMEND THE BUDGET.
IS THAT CORRECT? IS THAT WHAT WE DID THIS FOR ROGER? EXCUSE ME.
WE'RE GONNA BRING THESE BACK NEXT MEETING FOR A VOTE.
WHAT WE'RE GONNA DO IS WE'LL DO, LIKE WE'VE BEEN DOING, WE'LL MAKE CHANGES ON HERE AND INDICATE WHAT THOSE CHANGES ARE AND THEN WE'LL HAVE THAT DISCUSSION NEXT WEEK, NEXT MONTH, AND A VOTE.
IF THAT'S HOW, AND WE BEEN VOTING ON THIS EVERY WEEK.
WELL, I THINK WE'VE, I MEAN SINCE, SINCE IT'S AN AMENDMENT TO THE CAPITAL BUDGET, I, I WOULD THINK WE, YEAH.
I MEAN THE ONES THAT WE'LL ADDRESS TODAY ARE THE MP SIX, THE WAR ROAD.
BECAUSE ONCE YOU APPROVE THOSE ITEMS AND THEN WE WOULD TYPICALLY GO IN AND UPDATE THOSE ON THE SHEET.
BUT THAT WOULD BE THE ONLY ONE.
YEAH, IT'S, IT'S APPROVED THE PROJECT.
WE'VE NEVER AMEND THE BUDGET SINCE I'VE BEEN HERE.
WE DON'T HAVE A FORMAL PROCESS TO AMEND THE BUDGET.
I'M SORRY, I THOUGHT YOU OKAY.
ANYTHING ELSE ON THE MASTER PLAN? THAT WAS A GOOD, IT TOOK A WHILE, BUT IT WAS A GOOD DISCUSSION AND A GOOD ANSWER.
I ONLY HAVE 12 MORE QUESTIONS.
VERY, VERY INFORMATIVE, ROGER.
[III.C. Discuss and Consider Consent Agenda Reports Prepared for the Board - Reports to be Discussed in May are Financial Reports and Cash Flows - Mark Murchison]
THREE C, UM, WHICH IS DISCUSS AND CONSIDER A COUPLE OF DIFFERENT REPORTS, UH, FINANCIAL REPORTS AND CASH FLOWS.THE, LET'S TALK ABOUT THE FINANCIALS FIRST.
IF YOU'LL GO OVER UNDER CONSENT AGENDA AND FLIP TO TAB TWO, THAT WILL BE, YOU WILL SHOW UP AT THE HEADER, UH, BUSINESS ITEM B, CONSIDER FINANCIAL STATEMENTS HERE, DATE THROUGH APRIL 30TH.
WE'LL JUST GO THROUGH, WE'RE GONNA GO THROUGH THESE PAGES AND Y'ALL TELL ME WHAT YOU WANT.
IT, IT'S, IT'S NOT ON YOUR REPORT, BUT ON THE COVER SHEET, UH, YOU REFERENCE, UH, CONSOLIDATED OPERATING REVENUES OF 25.6 MILLION AND THEN THROUGH THE REST OF THE REPORTS YOU JUMPED TO 29.6 MILLION.
I'M ASSUMING THAT THE COVER COVER SHEET IS AN ERROR.
WE MAY BE TALKING ABOUT OPERATING INCOME VERSUS NET INCOME.
NO, THAT WOULD'VE BEEN THE REPORT I'M TALKING ABOUT ON THIS SHEET RIGHT HERE.
I, I KNOW WHAT YOU'RE TALKING ABOUT.
I'M, I'M CHECKING ONE THING JUST TO BE ABSOLUTELY SURE THAT I, THAT, UM, YOU AND I, THAT I'M ON THE SAME PAGE.
THE REST OF THE NUMBERS ARE RIGHT.
I WAS TRYING TO SEE IF THAT WAS, YEAH, IT'S 20, IT'S 29 AND YOUR SLIDE SIX GOES 29.
SO IT'S, EVERYTHING ELSE IS 29 3.
WELL, MY, YOU GET EXTRA POINTS.
MOVING PAST THAT AND GOING ON, THE FIRST THING WE DO IS PROVIDE Y'ALL A MORE DETAILED EXPLANATION OF EACH MAJOR LINE.
WE GO THROUGH EACH ONE OF THESE AND PROVIDE Y'ALL A MORE DETAILED EXPLANATION THAN WHAT THAT I'M GIVING YOU IN THE CFO REPORT.
THEN WE GO INTO THE EXPENSES AND TALK ABOUT THE MAJOR EXPENSES IN MORE DETAIL.
[01:35:02]
UH, I WOULD, I WOULD SUGGEST NOT CHANGING THIS 'CAUSE THIS, THIS IS GONNA GIVE Y'ALL AN OPPORTUNITY TO SEE, IT'S STILL A SUMMARY, BUT IT'S A MORE DETAILED SUMMARY THAN I'M GONNA GO OVER IN THE CFO REPORT.IF YOU HAVE A QUESTION IN SPECIFIC AREA, IT'S EASY TO FLIP INTO THIS, FIND THAT EXACT AREA AND SEE MUCH, UH, A GOOD BIT MORE DETAIL.
I MEAN, PERSONALLY, I I I USE THIS.
SOMETIMES I'LL HAVE A QUESTION.
AND WHEN, WHEN YOU READ THIS, IT ACTUALLY GIVES YOU, I'VE ANSWERED SEVERAL OF MY, OF MY QUESTIONS BY READING THIS AND THIS JUST TO GIVE Y'ALL A HISTORY OF THIS.
IN 2010, THIS WAS MY TALKING NOTES.
AH, AND IT MORPHED INTO A REPORT.
I GUESS HOW, HOW MUCH TIME DOES IT TAKE YOU GUYS TO PUT THIS TOGETHER? THERE'S HALF A DAY.
ISN'T THAT ABOUT RIGHT? UH, THIS FIRST PAGE, ABOUT A FEW, A FEW HOURS.
DEPENDS IF BEEN, DO NOT INTERRUPT IT OR NOT INTERRUPT IT.
BY THE TIME WE GET TO WRITING THIS, WE, WE'VE ALREADY SAT DOWN, GONE OVER THE FINANCIALS AND, AND WE KNOW WHAT, WE KNOW WHAT, WHERE THE BIG SWINGS ARE.
UH, AND THEN WE JUST PUT IT DOWN ON PAPER.
'CAUSE WHAT WE DO, WHAT, WHAT STAFF AND I DO, ONCE WE GET TO A, UH, ONCE WE GET TO A CERTAIN POINT IN THE FINANCIALS, WE'LL SIT DOWN AND GO THROUGH AND I'LL ASK QUESTIONS.
THEY'LL ASK QUESTIONS AND WE WILL MAKE SURE THAT WE UNDERSTAND WHERE ALL THE VARIANCES ARE.
SO I THINK WHAT I'M HEARING IS THAT EVERYBODY SEES VALUE IN THIS REPORT.
AND MARK, I THINK MARK, YOU SAY YOU SEE VALUE IN IT.
I YOU'RE NOT, YOU'RE NOT ADVOCATING TO, TO NOT DO IT.
BECAUSE I THINK IT'S ALSO YEAH, WE PUBLISH IT.
RIGHT? SO IT'S OUT THERE FOR THE PUBLIC TO SEE YES.
SO IT'S, IT'S A GOOD, I GUESS IT'S A GOOD SUMMARY.
IT'S A VERY IMPORTANT FOR US, NOT FOR US NON-ACCOUNTANTS TO BE ABLE TO UNDERSTAND THAT.
AND IT'S KIND OF WRITTEN IN PLANNING.
ANY QUESTIONS FOR MARK ON THIS REPORT? I DO WANT TO GO THROUGH THE OTHER REST OF SURE.
THE NEXT THING YOU ARE GONNA SEE IS WHAT WE CALL THE BLUE REPORT.
OBVIOUSLY BLUE, BECAUSE IT, IT'S HIGHLIGHTED IN EVERY OTHER LINE IN BLUE.
THIS IS OUR FINANCIAL STATEMENT.
IT'S UH, IT'S PRINTED DIRECTLY OUT OUT, UH, SOFTWARE.
IT'S, IT'S JUST A MATTER OF IT'S JUST RUNNING.
THIS DOESN'T TAKE ANY TIME TO PREPARE.
IT JUST, WE JUST PRINT, IT'S PROGRAMED AND THEN RIGHT BEHIND IT FOR SOME OF Y'ALL WHO REALLY NEED, NEED A WAY TO GO TO SLEEP AT NIGHT, THERE IS A MORE DETAILED INCOME STATEMENT THAT TELLS YOU MORE INFORMATION ABOUT THE BLUE REPORT.
GIVES YOU ALL, GIVES YOU A LOT MORE DETAIL.
AND THIS IS AS LOW AS I GO WITHOUT GETTING INTO TRANSACTIONAL INFORMATION.
THIS IS EVERY ACCOUNT, THIS IS EVERY ACCOUNT THAT HAS ACTIVITY.
WE DON'T GET THIS IN THE BUDGET CYCLE.
THIS IS, WE GIVE OVER A RECAP IN A SUMMARY.
JUST ONCE WE APPROVE THE BUDGET AND, AND THIS WE BUDGET IS ON THAT.
WE, YEAH, BUT DURING OUR BUDGET PROCESS, WE DON'T GET ANYTHING THIS DETAILED.
AND THIS AGAIN IS GENERATED BY THE SYSTEM.
YOU'RE NOT HAVING TO THAT'S CORRECT.
WE JUST MANUALLY SPEND TIME PUTTING IT TOGETHER.
ROBERT PUSHES A BUTTON OR A FEW BUTTONS PAGES.
AGAIN, THIS IS AT THE ACCOUNT LEVEL FOR ME TO GO OVER.
SO THIS SHOWS YOU, UM, ALL, ALL OF OUR BALANCE SHEET ACCOUNTS AND HOW, WHAT THE BALANCE IS.
WE DO NOT BUDGET THE BALANCE SHEET.
SO THE BALANCE SHEET IS COMPARED TO, UH, THE PRIOR YEAR END.
[01:40:04]
SO THEN BALANCE SHEET, EVERYBODY LIKES THE BALANCE SHEET.THIS GIVE YOU, GIVE YOU DETAIL OF WHERE THE ACCOUNT IS.
WHAT IS, I MEAN, I THINK WHOLE SECTION.
AND THEN THE, THE LAST SECTION OF THIS IS PRODUCT LINE.
NOW WE'VE BROKEN CRUISE DOWN TO THE MAJOR CRUISE LINES.
WE'VE BROKEN PARKING DOWN TO THE MAJOR CRUISE LINES.
AND THEN WE HAVE GROUND TRANSPORTATION.
WE'VE TRIED TO, WE HAVE THAT BROKEN DOWN TO THE MAJOR CRUISE LINES.
I'M NOT GONNA SAY THAT, THAT THIS, THESE ARE, WE DON'T SOMETIMES PUT SOMETHING IN FROM DISNEY THAT GOES TO CARNIVAL AND CARNIVAL.
BUT IT'S, IT'S NOT A MATERIAL VARIANCE.
THEN WE GET INTO THE OTHER PRODUCTS, UH, FERTILIZER, GENERAL CARGO.
WHEN YOU NOTICE GRAIN IS GONE FOR ALL PRACTICAL PURPOSE, LIQUID BULK, WE HAVE THAT.
UM, LIGHTER RAILROAD, VPC WIND.
AND THOSE ARE MAJOR PRODUCT LINES FOR US.
THIS GIVES YOU A DETAIL OF, UH, WHAT OUR COSTS ARE THAT WE HAVE TRACKED DIRECTLY.
THIS IS GENERATING SYSTEM, THIS IS SYSTEM GENERATED.
AND ON THE VERY LAST PAGE WE'VE ADDED GRAND TOTAL.
SO YOU CAN TIE IT SO YOU CAN SEE WHAT IT IS COMPARED.
WHEN YOU LOOK AT THE P AND F, I SUGGEST NO CHANGES IN THIS SECTION.
THIS IS IF YOU REALLY WANT TO GET INTO THE FINANCIALS AND SEE WHAT WE'RE DOING, THE INFORMATION.
UNTIL PUT A TARIFF ON THE PAPER.
CASH FLOWS A TRICKY, I DON'T CARE WHERE I'VE BEEN.
IT IS, I WANT TO BRING MY CRACKING CLOUDY CRYSTAL BALL IN.
AND THAT'S ABOUT HOW ACCURATE CASH FLOWS CAN BE.
I MEAN, WE'RE, WE'RE PROJECTING WHAT WE THINK IS GOING TO HAPPEN.
WE'RE DOING AN EDUCATED GUESS AND THAT'S WHAT IT IS.
IT'S NOT IN THE FUTURE MONTHS.
WE SPEND A GOOD BIT OF TIME ON THAT.
WE, WE ARE LOOKING AT, WE'RE, WE'RE TYING THIS INTO CAPITAL EXPENDITURES AND AS WE WENT THROUGH, WE SAW WHAT WE'RE DOING ON CAPITAL EXPENDITURES AND WHAT WE'RE PROJECTING, WE'RE TRYING TO GET TO IS AT LEAST GETTING THROUGH THE, TO THE END OF THE YEAR.
WHAT TAB IS THAT UNDER MARK? OH, I'M SORRY.
SO I THINK IT'S, IT'S, I MEAN IN THIS, IN THIS TIME PERIOD WE SPEND MONEY.
I THINK IT'S GOOD TO HAVE THIS.
AND I THINK WE'VE MADE SOME IMPROVEMENTS TO IT.
UH, GOOD SUGGESTIONS OVER THE YEAR.
I GUESS THE QUESTION, IS THERE ANY OTHER, ARE THERE ANY OTHER CHANGES, COLUMNS, ROWS THAT WE'D LIKE TO, THAT WE'D LIKE TO SEE? I THINK, I THINK YOU GUYS HAVE DONE A GOOD JOB OF LISTENING TO THE INPUT MAKING IMPROVEMENTS TO IT.
WELL THIS MARK SAYS ONCE YOU GET IT PAST THE CURRENT MONTH, YEAH.
I MEAN IT'S, IT'S A GOOD GUESS, BUT IT, IT'S A GOOD GUESS.
IT TAKES INTO ACCOUNT THE DEBT AND THOSE PAYMENTS AND ALL THOSE KIND OF THINGS THAT WE KNOW THEY'RE SCHEDULED.
UM, AND WE TRY TO PROJECT WHEN CASH INFLOWS COMING IN.
UH, YOU GUYS, YOU GUYS HAVE DONE A REALLY GOOD JOB OF SIMPLIFYING THIS AND PUTTING IT ALL IN ONE.
THERE'S A LOT OF WORK BEHIND THIS ONE PAGE.
THERE'S MANUAL WORK HERE, RIGHT? YES.
THERE'S, THERE'S A CERTAIN AMOUNT OF MANUAL WORK WHEN YOU GET INTO THE PROJECTIONS.
[01:45:01]
THE ACTUALS.IT'S PRETTY MUCH OUT OF THE SYSTEM.
THAT'S THE, UH, PROJECTIONS WE GO THROUGH THAT WE HAVE TO GO THROUGH THAT MANUALLY TO, UH, PRETTY MUCH, BUT IT'S A GOOD EXERCISE.
EVERYTHING RELATED TO OPERATING INCOME THAT'S OFF THE BUDGET.
BUT WITH ONE OF THE THINGS WE SAY, IT'S OFF BUDGET, BUT ONE OF THE THINGS WE DO, IF WE HAD SOMETHING IN THE BUDGET AND THAT WE KNOW THAT'S GOT MOVED OVER, THAT'S TIMING DIFFERENCE.
AND THE CASH FLOW, WE'LL MOVE IT OVER.
IT FALLS THAT CAPITAL PROJECT SHEET, THE CAPITAL ONE IS, IS THE BIG CHANGES.
AND THEN GRANT FUNDING, UH, WHEN WE TURN IT IN BASED, ONCE WE TURN, ONCE WE SUBMIT FOR REIMBURSEMENT FROM, FOR A GRANT, THERE'S GOING TO BE A PERIOD OF TIME BEFORE WE GET PAID.
AND UH, IF WE'RE OFF A DAY OR TWO, IT COULD MAKE IT, IT COULD MAKE IT SLIP INTO ANOTHER MONTH IN THE SUBMITTALS.
SO WHEN YOU PRODUCE A BILL TO SOMEBODY, DO YOU PUT IT IN HERE AS A RECEIVABLE? YEAH, WE, WE, WE ACTUALLY TAKE INTO CONSIDERATION NOT THE INDIVIDUAL BILLS, BUT THE CHANGE IN RECEIVABLES AND THE CHANGE IN PALES.
SO THAT'S TAKEN INTO CONSIDERATION.
SO WE HAVE A, WE INSIDE OF OUR SYSTEM WHEN, WHEN A SHIP TIES UP, THE BILLING PROCESS STARTS AT THAT POINT.
SO THEN IT, AND THEN IT ENDS WHEN THAT SHIP LEAVES.
AND FOR EXAMPLE, WHEN YOU SEE THIS, IF YOU GO DOWN THIS, YOU SEE CHANGES IN OPERATING ASSETS AND LIABILITIES.
WE'RE GONNA LOOK AT THE CHANGE IN ACCOUNTS RECEIVABLE IN THE, ON THE BALANCE SHEET, CHANGING PREPAID ITEMS. 'CAUSE WE'RE AMORTIZING PREPAID, BRINGING OTHER THINGS ON IN THE PREPAY.
WE'RE LOOKING AT THE CHANGES IN ACCOUNTS PAYABLE, CHANGES IN ACCRUED EXPENSES, UH, CHANGE IN UNEARNED REVENUES AND RENTS.
BECAUSE WE HAD, WE HAVE, WE HAVE THOSE, WELL, IF YOU REMEMBER, I THINK IT WAS LAST YEAR, IT COULD BEEN LATE THE YEAR BEFORE WE, WE WENT TO THE REAL FORMAT.
I MEAN WE WENT TO THE, THE GAP FORM OR GA B FORMAT.
WE WERE DOING A MUCH HIGHER LEVEL.
WE WERE JUST DOING NET OPERATING PLUS APPRECIATION.
SO THIS IS, THAT WAS A BIG, I THINK FOR YOUNGER BOARD MEMBERS, THAT WAS A, A BIG IMPROVEMENT.
I MEAN, I THINK THIS HAS BEEN, YOU, YOU KNOW, BEEN KIND OF, WE, WE'VE DONE SOME CHANGES IN INPUTS OVER THE, OVER THE YEAR.
BUT IT, I THINK YOU'VE GOT A, YOU'VE GOT A REALLY GOOD REPORT.
GIVES US A LOT OF GOOD INFORMATION ON ONE PAGE.
THE SUMMARY IS HOW PRESENTED, RIGHT? YEAH.
AND THANK, AND AGAIN, THANKS TO STAFF FOR ALL THE, TAKING THE INPUT AND WORKING TO IT.
'CAUSE I THINK YOU, YOU ADDED SOME TOTALS ON HERE THAT WEREN'T HERE BEFORE.
SO WE, WE, WE GET, WE, YOU GUYS HAVE BEEN, SOMETIMES IT TAKES US A LITTLE WHILE TO GET, GET EVERYTHING FLOWING FORWARD.
YOU GUYS, YOU GUYS HAVE DONE GOOD? YES, SIR.
ONE MORE WITH A SMILE ON YOUR, SHOULD I TAKE US A GO
ONE THING THAT WOULD BE HELPFUL TO ME.
WE HAVE HAD SEVERAL MEETINGS OF DISCUSSIONS ON REPORTS AND THEN WE HAD A BREAK FOR A COUPLE OF MONTHS WHILE WE DID AUDITS AND ALL THOSE THINGS.
COULD STAFF RECAP WHAT WE, WHAT THEY HEARD WE DID AS FAR AS ELIMINATING REPORTS AND STUFF.
'CAUSE THEN AT LEAST IN MY MIND, WE WERE GONNA COME BACK WITH KIND OF ONE SWEEPING VOTE TO MAKE THESE CHANGES OR MEMORIALIZE IT.
AND SO IF THEY COULD KIND OF GO BACK TO WHAT WE DID PRIOR TO THIS MONTH AND JUST KIND OF RECAP.
THESE ARE THE CHANGES THAT WE'VE DISCUSSED THAT WE THOUGHT THERE WAS CONSENSUS ON.
AND YOU HAD THAT, YOU HAD THAT WHEN, WHEN YOU DID YOUR COVER, WHEN YOU JUST COVER PAGE.
YOU HAD THAT, I SAID THIS TOO MUCH INFORMATION
THAT WAY WE CAN KIND OF JUST ONCE OKAY.
I MEAN, AND TO ME THE, THE PURPOSE OF THIS IS ONE, ARE THERE REDUNDANCIES THAT WOULD SAVE STAFF TIME? SURE.
AND ARE THERE TABS IN HERE THAT ALL OF US JUST KIND OF FLIP OVER AND DON'T EVEN LOOK AT MM-HMM
AND IF THAT'S THE CASE, WE NEED TO MODIFY IT.
IT'S GOOD TO WALK THROUGH THEM.
[01:50:02]
DO WE REALLY DO IT? YES.OUR NEXT, TONY'S OUR NEXT ITEM IS, UH, OUR
[IV. Discuss And Consider Action On Revision To Bylaws - Tony Brown]
LAST ITEM IS 3D DISCUSSING CONSIDER ACTION, BUT NOT LEAST ON REVISION.I DID ASK TONY, HOW IS THIS UNDER AGENDA ITEM ON THE COMMITTEE? WHY IS IT ON THE COMMITTEE? I, I HAD ASKED FOR IT JUST TO RIGHT.
I I WANT TO TALK ABOUT IT, BUT IT SHOULD BE ON THE BOARD AND IT IS, IT IS ON THE BOARD.
I WAS JUST TRYING TO GET ALL THE CONVERSATION HERE WHERE WE GOT TO THE BOARD.
AND I TOLD TONY I'M OKAY WITH IT, BUT I DON'T WANT THE FINANCE COMMITTEE TO BE A WORKSHOP.
SO, AND THAT WAS MY, THAT WAS MY REQUEST.
BUT AS I MENTIONED, OH, YOU DID THAT.
I DIDN'T SEE IT AS A FINANCE COMMITTEE ITEM, BUT I, LET'S GO AHEAD AND KEEP FOUND CHAIR.
LET'S CONTINUE WITH IT FOR DISCUSSION SINCE ALL TRUSTEES ARE HERE.
WELL, THE AGENDA ITEM REFER TO THE BYLAWS AND THERE'S A COPY OF THE BYLAWS WITH ONE PROPOSED UNDER TOP TAB FOUR OF YOUR BUSINESS ITEMS. LAST TAB FOUR IN YOUR BOOK? YEAH.
WELL, THERE'S ONE, THERE'S ONE FIRST FOUR AND THEN THERE'S FINANCE TAB FOUR.
SO IN THIS, THE ONE REVISION THAT'S SHOWN, UH, IT WAS SOMETHING THAT, UH, TRUSTEE YARBOROUGH POINTED OUT.
UH, YOU KNOW, THE WHOLE THEORY OF THIS WAS THAT COUNCIL ELECTIONS TAKE PLACE IN MAY AND THEN THEY WOULD GATHER AND MAKE APPOINTMENTS TO THE BOARDS IN JUNE.
AND THEN A TRUSTEE'S TERM WOULD BE, UH, UH, START IN JULY.
UH, AND, BUT THAT AS A PRACTICAL MATTER HAS VARIED.
SO THE IDEA HERE IS INSTEAD OF HAVING A FIXED DATE, IT WOULD COMMENCE ON THE DATE EACH PERSON IS APPOINTED BY COUNSEL.
UH UH AND THAT'S WHEN THEIR THREE YEAR TERM WOULD START.
I MEAN THAT'S, YOU KNOW, BECAUSE COVID, COVID GOT IT OFF.
WELL WHAT WE'VE BEEN DOING IS WE MOVED EVERYTHING WHEN JIM WAS THERE TO OUR SEPTEMBER GIVE NEW COUNCIL TIME AS OPPOSED TO DOING IT RIGHT, RIGHT THEN.
'CAUSE SOMETIME WE DIDN'T EVEN, EVEN HAVE, WE HAD A RUNOFF.
WE DIDN'T EVEN HAVE FOOT COUNCIL.
SO EVERYTHING WE COULD MOVE, WE MOVED TO OUR FISCAL YEAR, SEPTEMBER 30TH TYPE OF APPOINTMENT.
EXCEPT FOR THOSE THAT ARE MANDATED BY LAW PARK BOARD BEING ONE OF 'EM IS EARLIER.
AND THE CHARTER OF COURSE SAYS THREE YEAR TERMS, BUT IT DOESN'T FIX FIX THE START.
SO I MEAN, WHENEVER WE APPOINT IT, YOU GOT A THREE YEAR TERM WHENEVER YOU GET APPOINTED.
TONY, I HAD ANOTHER CHANGE IN LOOKING AT ON PAGE TOP PAGE ONE, I THINK WE DO APPROVE THIS TODAY.
WE NEED TO PUT A COMMA AFTER 2018, TAKE OUT, TAKE OUT THE PERIOD AND PUT ANN MAY 27TH.
TO MATCH THE TYPE OF, UH, PAGE TWO.
IF, AND I'M IN FAVOR OF THESE CHANGES.
SO, BUT THIS, THAT'S EXACTLY WHAT YOU'RE SAYING.
IT WAS, WE DID UPDATE THAT IN THE ITEM ITSELF, BUT YOU PUT IT IN THE, AT THE VERY TOP PREPARATORY LANGUAGE AT THE BEGINNING.
DO I HAVE A MOTION TO APPROVE JIMMY? I'VE GOT SOME OTHER COMMENTS.
ON PAGE FIVE, YOU KNOW, WE HAD SOME DISCUSSIONS ABOUT WHETHER WE WANT TO FINANCE COMMITTEE MEETINGS.
OUR CHARTER SAYS THAT THE SECRETARY WILL PREPARE AND RECORD THE MINUTES AND PROCEDURE OF THE BOARD AND BOARD COMMITTEES IN A SUITABLE FORMAT.
SO ALL OUR COMMITTEE MINUTES, REAL ESTATE, EVERYTHING, WE'VE TALKED ABOUT THAT.
WELL, FINANCE COMMITTEE, WE ADDED, WE DO ADDED, WE ADDED MINUTES HERE A FEW MONTHS AGO.
AND I THINK THE REAL ESTATE COMMITTEE IN BATTLE SCHOOL, WE HAVE PUBLISHED, IF YOU GO DOWN ON PAGE FIVE UNDER ARTICLE NINE, I DON'T KNOW WHY IT SAYS BYLAWS MAY BE AMENDED BY MAJORITY VOTE AFTER AT LEAST FIVE DAYS NOTICE IN WRITING TO THE TRUSTEES.
SO TECHNICALLY WE COULDN'T VOTE TODAY 'CAUSE WE ONLY GOT THREE DAYS NOTICE.
[01:55:01]
WOULD HAVE TO COME BACK FOR A FINAL APPROVAL NEXT MONTH.SO I DON'T KNOW WHY WHY'S FIVE.
WHY DON'T WE JUST DO THREE LIKE OPEN MEETINGS, POSTING POST.
YOU WANNA MAKE IT THREE DAYS? IS THAT I JUST FOUND THAT UNUSUAL.
YEAH, SO SAME FIVE TO THREE, HUH.
AND THEN ON THE NEXT PAGE SIX, THERE SHALL BE ONE STANDING COMMITTEE.
AND IF WE DO THAT, WE'LL ALSO HAVE TO CHANGE THE LANGUAGE AS AMENDED.
IF YOU GO TO THE NEXT PAGE ON SIX, WE HAVE ONE STANDING COMMITTEE ENTITLED FINANCE COMMITTEE IS THE PENSION AND THE, AND THE, UH, COMPENSATION COMMITTEE, NOT A STANDING COMMITTEE.
AND WHAT'S THE DEFINITION? WE HAVE THREE COMMITTEES.
SO I DIDN'T KNOW WHY PENSION AND COMPENSATION WEREN'T LISTED.
THE SITS, THOSE ARE SITTING COMMITTEES, NOT STANDING COMMITTEES.
INSTEAD OF VOTING, OBVIOUSLY WE CAN'T VOTE ON IT TODAY.
WHY DON'T WE HAVE TONY DO WITH THESE CHANGES THAT WE'RE TALKING ABOUT.
THAT'S A GOOD AT LEAST FIVE DAYS IN ADVANCE SO WE CAN COMPLY WITH THIS.
YEAH, NO, THAT AND THAT'S WHY I WANTED TO HAVE A DISCUSSION.
UH, AND THEN WHEN YOU GET OUTTA THE NEXT PARAGRAPH, UM, THE CHAIRMAN HAS THE AUTHORITY TO CREATE AN APPOINT COMMITTEES AND THEN IT GOES DOWN ANY MEMBERS OF THE COMMITTEE THEREOF WHO MAY INCLUDE PERSONS WHO ARE NOT MEMBERS OF THE BOARD.
FROM A PERSONAL PERSPECTIVE, I HAVE AND FULLY SUPPORT THE CHAIRMAN HAVING THE ABILITY TO CREATE AD HOC COMMITTEES AND APPOINT THE MEMBERS AND THE CHAIRMAN AND VICE CHAIRMAN.
I THINK IF WE'RE GOING TO APPOINT A COMMITTEE WHERE THERE ARE NON BOARD MEMBERS, IT OUGHT TO BE APPOINTED AND APPROVED BY THE FULL BOARD.
SO FOR EXAMPLE, IF WE WERE GONNA HAVE THAT STEERING COMMITTEE FOR A STRATEGIC PLAN, THAT WOULD BE A COMMITTEE THAT WOULD BE APPROVED BY THE BOARD, NOT JUST THE CHAIRMAN.
THE OTHER THING IN THAT PARAGRAPH, I THINK ALL THESE COMMITTEES OUGHT TO SUNSET AT THE ANNUAL MEETING EVERY YEAR.
THAT WAY WE'RE FORCED TO LOOK AT 'EM AND SEE WELL, ALL THE AD HOC COMMITTEES YES.
THAT WAY WE'RE FORCED TO LOOK AND SEE.
YEAH, THE REAL ESTATE COMMITTEE IS STILL NEEDED.
BATTLESHIP COMMITTEE'S NOT NEEDED.
AND SO WE HAVE A PROACTIVE DETERMINATION TO CONTINUE OR WE HAVE A SUNSET THAT KILLS IT.
WHERE, WHERE ARE WE PROPOSING THAT GO? THAT WOULD BE SOMEWHERE IN THE, UH, SECOND PARAGRAPH UNDER NUMBER 12.
THE SECOND AND THIRD PARAGRAPHS ARE PARALLEL.
ONE OF 'EM HAS THE FULL BOARD INVOLVEMENT.
THE OTHER SAYS THE MAJORITY OF BOARDS CAN CREATE, OR OF THE TRUSTEES CAN CREATE.
AND THAT PARAGRAPH'S GOOD IN THAT.
I MEAN I DOUBT WE WOULD'VE A SITUATION WHERE THE BOARD WAS IN CONFLICT WITH THE THINKING OF THE CHAIR.
BUT IT DOES GIVE THE BOARD THE FLEXIBILITY THAT IF THEY WANNA CREATE AN AD HOC COMMITTEE, THEY CAN.
AND THEN THE FINAL ONE IS, UH, AT THE VERY LAST PARAGRAPH, MINUTES WILL BE KEPT OF ALL COMMITTEE MEETINGS BY SECRETARY APPOINTED BY THE COMMITTEE CHAIR.
SUCH MINUTES SHOULD BE DISTRIBUTED TO THE BOARD.
MY MEMORY'S GETTING FAULTY AS I GET OLDER.
I DON'T KNOW IF WE'VE BEEN GETTING MINUTES OF THE BATTLESHIP COMMITTEE OR THE REAL ESTATE COMMITTEE, BUT THE CHARTER SAYS WE'RE SUPPOSED TO, I THINK, I THINK WE, WE MAY HAVE.
SHE SENT THOSE OUT LAST TIME WE TOOK A TOUR FOR THE REAL ESTATE COMMITTEE.
SHE HAS BEEN SENDING, I THINK SHE BUT SHE SHOULD.
AND, AND SENDING THEM OUT CAN BE JUST PUTTING IT ON THE CONSENT AGENDA AND HAVING THE BOARD APPROVE THE MINUTES OR ACCEPT THE MINUTES OF THOSE COMMITTEE.
SHE DOESN'T HAVE TO SEND IT OUT SEPARATE.
BUT IF WE GOT IT, IF WE GOT IT IN HERE, WANT TO DO IT.
IF WE DON'T WANNA DO IT, NO PROBLEM.
IT'D PROBABLY BE GOOD IF PUT IT ON THE, I JUST THINK IT OUT LOUD.
'CAUSE I KNOW I THINK SHE'S PRETTY, YOU'VE SENT THOSE OUT TO THE BOARD, BUT YOU GET AN EMAIL AND MAYBE PEOPLE LOOK AT IT, MAYBE PUT ON THE AGENDA, BUT WE AT LEAST TALK ABOUT IT AND IT'LL BE IN THE SAME PLACE.
AND TECHNICALLY IT BE ONE PLACE.
WE'RE NOT APPROVING THOSE MINUTES.
WE'RE ACCEPTING THEM BECAUSE WE WEREN'T EXCEPT.
AND THEN ON THE LAST PAGE, ITEM 14, ALL PORT EMPLOYEES SHALL BE BONDED WITH A RESPONSIBLE BONDING COMPANY UNDER THE COMMERCIAL BLANKET BOND OR SIMILAR FIDELITY BOND.
THE AMOUNT OF COVERAGE AND OTHER ITEMS OF THE BOND SHALL BE PROVIDED TO THE BOARD IN JANUARY OF EACH YEAR.
AND I DON'T KNOW IF WE HAVE EVERY EMPLOYEE BONDED AND I'M NOT SURE WE NEED EVERY EMPLOYEE BOND.
[02:00:01]
AGAIN, DON'T NEED TO MAKE DECISION TODAY, BUT THAT WE NEED TO DETERMINE IF THAT'S WHAT WE WANT.MAYBE STAFF CAN COME BACK AND SAY, THESE PEOPLE NEED TO BE BONDED TO CERTAIN MAINTENANCE CONSTRUCTION DOESN'T NEED TO BE SECURITY GUARD WALKING ACROSS THE STREET.
DON'T NEED TO BE AND CLEAN THAT SECTION UP WHERE WE CAN BE IN COMPLIANCE WITH IT.
I THINK IN THE LAST SIX YEARS WE'VE TO TWEAK.
SO THOSE ARE MY HAVE READ ANY, ANY OTHER COMMENTS? SO THE ONLY OTHER THING I HAD, SHOOT, AT THIS POINT, WE HAVE A LOT OF THINGS THAT MIGHT BE HELPFUL FOR ANDREW TO PROVIDE IN THE BOARD, ESPECIALLY A NEW BOARD MEMBER.
THEORETICALLY, BONDS ARE SUPPOSED TO COME IN JANUARY, INSURANCE RENEWALS COME IN APRIL, PENSION TRAINING COMES IN SEPTEMBER, WHATEVER.
IT'S KIND OF A CALENDAR OF ITEMS WE HAVE ON OUR AGENDA WHERE IF YOU GET A NEW BOARD MEMBER, YOU CAN GIVE 'EM A PACKAGE, SAY, HEY, THESE ARE THE KEY THINGS.
THESE ARE THINGS THAT ARE REQUIRED TO COME TO YOU OR BY HISTORY COME TO YOU.
AND WE HELP HER BE ABLE TO MAKE SURE SHE DIDN'T MISS SOMETHING THAT WAS REQUIRED BY SOME OF OUR CRAZY POLICIES.
AND IF, IF WE HAVE THAT, SHE CAN JUST PROVIDE IT.
WELL, YOU KNOW, WE SEND THE STUFF WITH THE GOVERNING DOCUMENTS.
WE TALK ABOUT ONE PAGE CALENDAR THAT YEAH, WE DO BUDGET NOVEMBER APPROVAL.
WE DO WHATEVER AUDIT IN MAY OR JUNE AND APRIL.
JUST BE AN INTERNAL MANAGEMENT TOOL THAT WOULD HELP THE BOARD, ESPECIALLY NEW MEMBERS COMING ON BOARD.
SO, UH, TONY WILL TAKE THESE SUGGESTIONS AND BRING THEM BACK TO US NEXT MONTH AND LET US SEE 'EM, UH, FIVE SO THAT WE CAN GO.
AND THANK YOU FOR YOUR THOUGHTS ON THIS, JIM.
ANY OTHER QUESTIONS, CONCERNS? OKAY.
ANY ADDITIONAL COMMENTS FROM ANYONE ON THE FINANCE COMMITTEE, IF
[VI. SET DATE AND TIME OF NEXT MEETING]
NOT, ANGIE? DATE AND TIME OF THE NEXT MEETING? UH, JUNE 24TH AT 5:00 AM AND WITH THAT WE ARE ADJOURNED AND IT'S 1102.WE'LL TAKE ABOUT A FIVE MINUTE BREAK AND THEN.