Finance Committee Agenda and Packet 2011 09 19

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City Council Finance Committee Meeting Minutes 08/22/2011 Page 2 of 4 APPROVAL OF THE MINUTES FROM THE JULY 18, 2011 MEETING The Committee approved the minutes from the July 18, 2011 meeting as presented. SALES/USE TAX LICENSING AND BUSINESS REGISTRATION DISCUSSION Deputy City Manager, Heather Balser presented a summary of the present licensing and registration requirements and outlined the fee changes due to take place for the 2012 renewal cycle. The Deputy City Manager stated that if no changes occur, all in-City businesses will be required to pay a $25 fee for a Business Registration and a $25 fee for a City Sale/Use Tax License since all businesses must now hold a Sales/Use Tax License based on the November passage of the use tax. In December 2010, the Committee had requested a review of the forms and related fees and asked if the process could be combined and simplified. Deputy City Manager Balser passed around a draft copy of a two-page combined Sales/Use Tax License and Business Registration application for Committee review and requested direction regarding the application fee. The Committee discussed the current fees and the desire for all businesses to be subject only to the Sales/Use Tax License fee (including outside businesses). This would result in an approximate $12,375 overall reduction of Business Registration fees for all Louisville retail businesses which are currently required to pay for both the sales/use tax license and business registration. The Committee directed staff to prepare a Resolution amending the Business Registration fee from $25 to $0 to be presented to Council at a future meeting. SALES TAX REPORTS FOR THE MONTH ENDED JUNE 30, 2011 The Tax Manager presented the June 30, 2011 Sales Tax Reports. The reports and the corresponding narrative can be located in the packet of the August 22, 2011 Finance Committee Meeting. The Mayor noted the renovations occurring at Kohl’s and requested staff to pay them a visit in the near future. REVENUE TREND ANALYSIS – PROJECTIONS DATED AUGUST 17, 2011 The Finance Director presented 2011 Revenue Trend Analysis with projections dated August 17, 2011. The reports and the corresponding narrative can be located in the packet of the August 22, 2011 Finance Committee Meeting. í