Finance Committee Agenda and Packet 2011 12 19

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City Council Finance Committee Meeting Minutes 11/14/2011 Page 2 of 3 The City Manager presented a schedule of CIP projects completed or scheduled for completion in 2011 and a schedule of projects that will be carried over into 2012. The City Manager indicated that the Automated Materials Handling System would not be completed in 2011. He stated that the need for the system and associated costs had been under review but that based on the continued increase in hard materials it was determined the system would be necessary and is now scheduled for 2012. The Mayor and Councilor Dalton stated their support for the system noting that its implementation would eliminate the need for increased library staffing levels. The Mayor asked how much of the 2011 budgeted CIP expense would be rolled over into 2012. The Finance Director stated it would be approximately $2.3 – $2.4 million. The Mayor and Councilor Dalton stated that the Downtown Drainageways and floodplain work should be a priority for the City in 2012. The schedule can be located in the packet of the November 14, 2011 Finance Committee Meeting. SALES TAX REPORTS FOR THE MONTH ENDED SEPTEMBER 30, 2011 The Tax Manager presented the monthly and quarterly September 30, 2011 Sales Tax Reports. The Tax Manager noted that the last sentence of the Council Communication rd should have read that 3 quarter 2011 showed the largest increase over the prior rd seven 3 quarters reported. The reports and the corresponding narrative can be located in the packet of the November 14, 2011 Finance Committee Meeting. FINANCIAL STATEMENTS FOR THE PERIOD ENDED OCTOBER 31, 2011 The Accounting Manager presented the quarterly Financial Statements through October 31, 2011. The reports and the corresponding narrative can be located in the packet of the November 14, 2011 Finance Committee Meeting. CASH & INVESTMENTS REPORT AS OF OCTOBER 31, 2011 3