Finance Committee Agenda and Packet 2011 09 19

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City Council Finance Committee Meeting Minutes 08/22/2011 Page 3 of 4 The Finance Director stated there would be a decrease of approximately $13,000 in HUTF revenue based on CML estimates and that the Xcel Franchise Fees continue to decline. The Finance Manager also stated that several of the trend figures have been revised to reflect the actual projections of the responsible departments. The City Manager responded to last month’s inquiry regarding the decline in the Recreation Center user fees stating that while there is a decrease in daily user fees, there is an increase in annual membership fees. The City Manager also stated that the recent loss of a popular swim instructor has decrease enrollment for that area. The Mayor requested additional information on the reason the swim instructor left the City and questioned whether the Recreation Center might be losing market share. The City Manager stated that he would follow-up with staff are provide an update. The Committee members also remarked on the recent Recreation Center maintenance, remarking that the shut-down appeared to be earlier and that it was odd they were closed four day one week and 3 days the next week. Members asked for follow-up regarding the maintenance scheduling, which was previously done over the Labor Day holiday, and the lack of obvious signage directing Recreation Center members to the Lafayette Recreation Center. FINANCIAL STATEMENTS FOR THE PERIOD ENDED JULY 31, 2011 The Accounting Manager presented the July 31, 2011 Financial Statements. The reports and the corresponding narrative can be located in the packet of the August 22, 2011 Finance Committee Meeting. The Mayor asked whether the installation of the radio-read meters has resulted in money and personnel time savings as was expected upon approval of the project. The Finance Director and Accounting Manager stated that the time needed to read the meters has decreased substantially although other meter related functions, such as shut-offs and testing still remain. The Committee requested an accounting of the time savings and redistribution of duties for those Public Works employees involved in water meter functions. CASH & INVESTMENTS REPORT AS OF JULY 31, 2011 The Finance Director presented the Schedule of Cash & Investments as of July 31, 2011. The schedule and corresponding narrative can be located in the packet of the August 22, 2011 Finance Committee Meeting. ì