Finance Committee Agenda and Packet 2025 01 16

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City Council Finance Committee Meeting Minutes November 21, 2024 Page 6of7 equity. Councilmember Hoefner agrees this will be an interesting topic to discuss in 2025. Councilmember Kern commented that she would like to see these fees go down. Public Comments: None. Q3 2024 Financial Report: The Financial Analyst presented the 2024 Q3 Financial Report to the committee. The report was included in the meeting packet. Committee Comments: None. Public Comments: None. Q3 2024 CIP Report: The Senior Accountant presented the 2024 Q3 CIP Report to the committee. The report was included in the meeting packet. Committee Comments: Councilmember Hoefner commented that there are good reasons for the way we budget for Capital Improvement projects, and he expressed frustration that the percentage of the CIP budget we have spent is low compared to the overall budget. Councilmember Hoefner would like to determine a way to have budgeting tools to reflect economic reality each year, so the reports have more meaning. For example, what does it mean to have spent 20% of a project budget — is it good/bad, etc.? Councilmember Kern commented that the finance committee can discuss benchmark measures for different kinds of expenditures. Councilmember Hoefner asked for details on expectations included in the report. Councilmember Hamlington commented that this also ties into the conversation earlier related to budget amendments. She agreed that having more tracking of this would be helpful in the work of the finance committee. Public Comments: None. Q3 2024 Revenue, Sales, and Bag Tax Report: The Sales Tax Auditor presented the 2024 Q3 Revenue, Sales, and Bag Tax Report to the committee. The report was included in the meeting packet. There will be a Sales and Use Tax meeting for the public on December 18. Committee Comments: 8/37