Finance Committee Agenda and Packet 2012 11 19

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City Council Finance Committee Meeting Minutes 09/17/12 Page 2 of 4 Cash & Investment Report as of August 31, 2012 – Update from Scott Prickett, Davidson Fixed Income Management, City Investment Advisor Finance Director Watson introduced Scott Prickett of Davidson Fixed Income Management, to the Committee. Mr. Prickett reviewed Davidson’s analysis of the current economic outlook emphasizing their attention on four main indicators, the Federal Reserve, the European Union, Employment and Housing. Mr. Prickett indicated that Davidson expects the Fed will most likely maintain current interest rates into 2015 in order to promote a stronger economic recovery, and that the upcoming Presidential election and any adverse actions in the Middle East could also affect markets for an unknown duration. In reviewing Louisville’s position, Mr. Prickett stated that Louisville remains in a fairly conservative position favored by both Davidson and the City’s Investment Policy. The goal of Davidson is to reinvest the City’s money into the market in a diversified manner with an average three-year maturity to retain the short-term and long-term goals of the City. Mr. Prickett summarized the City’s performance from 4/1/10 through 7/31/12 which had an average yield of 1.44% which is well above CSAFE, Colotrust Plus, and 2Yr Agency investments over the same period. Council member Keany asked how the City of Louisville compares with its investments to other Colorado Front Range cities. Mr. Prickett stated that Louisville is average in its investments and investment performance but is financially in a very strong position. Mr. Pickett noted positive indicators like housing in Colorado, which is only 6% below its peak is improving much faster than other areas of the country which are still experiencing 30% declines. The corresponding narrative can be located in the packet of the September 17, 2012 Finance Committee Meeting. SALES TAX REPORTS FOR THE MONTH ENDED JULY 31, 2012 The Tax Manager presented the monthly and quarterly sales tax reports for the period ended July 31, 2012. The reports and the corresponding narrative can be located in the packet of the September 17, 2012 Finance Committee Meeting. REVENUE TREND DASHBOARD – PROJECTIONS OF SEPTEMBER 12, 2012 The Finance Director presented the preliminary projections for all City funds based on the actual amount received during the first eight months of the year. 3