Finance

Audit and Finance seeks more input before voting on board and commission changes – Austin Monitor

Published

1 year ago

February 20, 2025

Audit and Finance seeks more input before voting on board and commission changes – Austin Monitor

Thursday, February 20, 2025 by Amy Smith

The City Council Audit and Finance Committee on Wednesday deliberated scaling back about two dozen of the city’s boards, commissions and other governmental bodies but ultimately took no action pending further input from the affected groups.

The discussion centered on a City Council-approved resolution to consolidate or dissolve up to 36 citizen groups, although Council Member Ryan Alter, who sponsored the initiative, reduced the number to 26 after hearing feedback from commissioners and other volunteer members.

After lengthy consideration, Committee Chair Mayor Kirk Watson summarized the conversation by asking staff to gather more feedback from the existing bodies that would be impacted by merging with other citizen groups. A sunset review process should also be used for dissolving those governmental bodies that have been rendered inactive, Watson said.

The city clerk’s office, working with the city manager’s office, received only a few responses to each of the questions posed in an online survey, as part of the resolution’s direction. But Audit and Finance members, along with other Council members, have heard a lot from individual board members and commissioners.

The most vocal opposition came from members of the Resource Management Commission, which had been slated to merge with the Zero Waste Advisory Commission. Alter has since removed that merger from a list of proposed consolidations.

Additionally, the Urban Transportation Commission opposed merging with the Bicycle Advisory Council and the Pedestrian Advisory Council.

Alejandro de la Vega, vice chair of the Bicycle Advisory Council, told the committee that merging the UTC with the bicycle council “would actually diminish, not amplify, cyclist representation” in Austin. He noted that his group had received over 300 signatures in the last five days in support of keeping the Bicycle Advisory Council as a single entity.

Mayor Pro Tem Vanessa Fuentes said she had heard negative feedback from several of her commissioners about the potential changes.

“I certainly cannot support merging some of these commissions and would like further consideration of how that should look … and more time for the community to weigh in,” she said.

Council Member Chito Vela said he couldn’t see the logic of folding the Bond Oversight Committee into the Planning Commission.

“I consider those kind of two completely different functions,” he said. He said a more understandable scenario would be to merge the Planning Commission with the Zoning and Platting Commission; however, Alter countered that the Planning Commission already has a full plate.

Indeed, when City Council formed the two commissions in 2001, the Planning Commission was struggling to consider zoning cases while also trying to plan a future Austin with a more visionary mindset.

While the duties of both commissions have morphed over time, one recommendation under consideration is reassigning the two commissions’ roles, with ZAP taking up all zoning cases citywide while the Planning Commission focuses on planning, code amendments and capital planning.

Other potential changes include merging the Downtown Commission with the South Central Waterfront Advisory Board and the Tourism Commission, plus updating membership requirements for the Airport Advisory Commission.

Another direction from the resolution has already been completed: an online tracker that monitors all the recommendations made by city boards and commissions.

Alter stressed that his resolution would be a continuing conversation and suggested moving forward at a future meeting on any proposed changes that have consensus.

“I think that the staff has really laid out a great process for us to review these bodies, whether it’s for future consolidation or just scope adjustment,” he said. “It will allow for these boards and commissions to ultimately be more effective, and that’s the goal … not to get rid of anybody’s board or commission but to make their work more effective and to make it so that staff is not having to go to three different bodies and make the same presentation.”

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Finance

Houston budget amendment would give financial assistance to help those impacted by a trash fee

Published

3 hours ago

June 3, 2026

Press Room

Houston budget amendment would give financial assistance to help those impacted by a trash fee

HOUSTON, Texas (KTRK) — Houston City Council could soon consider whether to offer financial assistance to help those who may struggle to afford a proposed trash fee.

This month, council will approve a budget. In it, Mayor John Whitmire doesn’t increase taxes.

However, he does want to charge a $5 monthly fee to cover trash services. A plan to help close the city’s nearly $200 million deficit that doesn’t add up to some.

Speaking in front of council on Wednesday, Super Neighborhood 64 president Lindsay Williams brought more than concerns, she had numbers surrounding the mayor’s proposed $5 monthly trash fee.

A plan his team says could climb to $25 a month by 2032. If it does, Williams told council that $300 annual cost would be just .15% of a $200,000 income.

For someone making $15,000, it’s two percent. “More than 13 times the burden for the same trash, same truck and same fee, but not the same pay,” Williams explained.

However, Controller Chris Hollins said the mayor’s not being truthful about the real cost.

“Houstonians are not stupid,” Hollins said. “We should not treat Houstonians like they’re stupid.”

Hollins said the cost may need to be $40 a month. Whitmire didn’t respond to Hollins during the meeting when he asked if he plans to increase the fee.

No matter the cost, some council members want to offer financial relief. Right now, there are no exceptions.

However, an amendment council will consider from Council Member Alejandra Salinas next week would change that.

“If they for whatever reason met the threshold and need an additional need because of the administrative fee, our amendment would allow them to apply for funds through the water fund,” Salinas said.

The trash fee wasn’t the only item from the mayor’s seven and a half billion dollar budget proposal that sparked debate. Hollins said a plan to divert money away from water utilities could drain a billion over the next five years from infrastructure money.

Whitmire disagrees saying there’s more than enough funds to handle the change, and continue with projects.

“We’ve all admitted the budget’s not perfect, but certainly it’s a first start that Houstonians understand and it’s a shame it’s being so politicized because it’s literally people’s lives and death,” Whitmire said.

Council will vote on amendments next week. It has to have a new budget in place by the end of the month.

Finance

How can I illustrate our financial position to a spouse who shows little interest?

Published

13 hours ago

June 3, 2026

Press Room

How can I illustrate our financial position to a spouse who shows little interest?

Reader question: My spouse has little interest in our financial position. As we age, this concerns me. I try to share some basic information (income, spending, account balances, debt, and so on) each month but rarely get a response. I think graphs or charts might be of more interest to her than a bunch of numbers. What recommendations would you have for illustrating our financial position so that I am not the only person aware of how we are situated? Thanks!

Answer: Your situation is pretty common. Most couples I know develop a division of labor over time, where one person is in charge of financial matters and the other person is less involved. That’s definitely the case for my husband and me. He’s in charge of paying all the monthly bills and preparing our tax returns, but the financial planning and investment decisions are up to me. This type of arrangement might work well for a long time, but can become less sustainable with age, particularly if the “finance person” in the relationship dies or develops a major health issue.

Online tools and mind maps

Illustrating your financial situation with charts and graphs is a great idea that might help your spouse become a little more involved. Morningstar’s  Portfolio X-Ray  tool includes a variety of images that help illustrate your financial situation. Websites for most major brokerage firms also include some visual tools. Schwab, for example, offers a Portfolio Checkup and a bar graph illustrating your account’s monthly income from dividends and interest income. Vanguard has a Portfolio Watch tool and a variety of performance illustrations, tools, and calculators.

A  mind map, which we used with clients when I worked for a financial advisory firm, can be another way to picture your entire financial situation on one page. There are various  softwaretemplates  for drawing a mind map, or you can simply sketch it out with a large sheet of paper and a pencil. Start with your names at the center of the page. Then draw spokes connecting to various categories, such as names of other family members; investment accounts; real estate and other assets, insurance policies, estate plans, key goals and values, and contact information for accountants, estate planners, and other professionals. It can be helpful to go through the mind map together and make any updates needed at least once a year.

Other ways to communicate about money

A few other ideas—though not related to charts and graphs—might also be useful.

I like the idea of putting together a  net worth statement  that itemizes cash, taxable accounts, real estate, retirement accounts, and debt for each member of the couple as well as items owned jointly. It’s a good idea to update this document at least once a year and  discuss it as a couple. If you set up the document as a spreadsheet, you can include columns with additional information such as account numbers, what each account is used for, which accounts are subject to required minimum distributions, or tax issues like potential capital gains.

Many couples also put together a  binder  (sometimes humorously called a “Doomsday Book”) that contains information about where to find important paperwork, insurance policies, how bills are paid, what each account is for, steps the surviving spouse will need to take, final wishes, and any other critical information.

A well-qualified financial adviser can bridge the information gap

Finally, you could consider working with a good  financial adviser,  who can help involve your spouse in financial matters while you’re still living and step in to fully manage investments and personal finance decisions if you pass away before your spouse. Make sure the adviser holds the Certified Financial Planner designation and charges fees that are reasonable. Although a 1% fee is still the industry standard for accounts of $1 million or less, it’s possible to find advisers who charge significantly less, including a few who price their services based on hours worked instead of a percentage of assets under management.

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This article was provided to The Associated Press by Morningstar. For more personal finance content, go to https://www.morningstar.com/personal-finance.

Amy C. Arnott, CFA, is a portfolio strategist for Morningstar and co-host of The Long View podcast.

Finance

Proximo Congress 2026: US Energy & Infrastructure Finance | Insights | Mayer Brown

Published

23 hours ago

June 3, 2026

Press Room

Proximo Congress 2026: US Energy & Infrastructure Finance | Insights | Mayer Brown

Mayer Brown is a proud sponsor of Proximo Congress 2026. This senior meeting of the US energy, infrastructure, and digital infrastructure finance community is shaped around the questions credit and investment committees are actually asking in 2026: how asset classes are converging, how risk is being priced in a recalibrated policy and geopolitical environment, and how public and private capital are being structured together to deliver projects at scale.

Mayer Brown has also been recognized for three separate awards which will be presented during the event. These awards include: