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Home My Public Portal About20160519 Finance Committee Agenda.docxCITY OF TYBEE ISLAND FINANCE COMMITTEE MEETING AGENDA May 19, 2016 Approve minutes for last finance committee meeting Old Business FYI – May 13, 2016 Equity Report and Cash Balances Alternatives to Financing/Reducing the FY2017 budget Health Insurance – Update Current plan period is July 1, 2015 to June 30, 2016 FY2017 plan period is July 1, 2016 to Dec. 31, 2017 – 18 months to change the plan from a fiscal year to a calendar year – Insurance premiums will increase by 6% from $763,000 to $808,780 After Dec. 31, 2017 insurance premiums may possible increase by 60% from $808,780 to $1,294,048 based on communication from Blue Cross Blue Shield to our insurance broker Debt refinancing – Update Risked Based Analysis Suggestions for City’s Comparable to Tybee: Other similar cities that have experienced similar events that Tybee Island is susceptible to as well Detailed capital project list and replacement cost Finance Committee Council members discussions Establish date for next finance committee meeting