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City Council Finance Committee <br />Meeting Minutes <br />07/15/13 <br />Page 3 of 5 <br />Tax Manager Bolte distributed a summary of the results of the Sales and Use <br />Tax Training Workshop evaluation forms completed by attendees of the Spring <br />2013 training sessions. The summary indicated a 97% approval rating. <br />The reports and the corresponding narrative can be located in the packet of the <br />July 15, 2013 Finance Committee Meeting. <br />RFP FOR FRANCHISE FEES, SALSE AND USE TAX AUDITS <br />The Tax Manager presented to the Finance Committee for discussion and <br />direction a draft of an RFP to audit City franchise fees. Tax Manager Bolte <br />stated that since inception of home-rule status and the self-collection of taxes in <br />2002, the City has never audited the entities responsible to remit fees primarily <br />due to the lack of staffing resources. <br />The Finance Committee discussed the pros and cons of such an audit but <br />approved staff to develop and issue a final RFP the results of which would be <br />presented at a future Finance Committee meeting. <br />The draft and corresponding narrative can be located in the packet of the July 15, <br />2013 Finance Committee Meeting. <br />REVENUE TREND ANALYSIS – PROJECTIONS DATED JULY 11, 2013 <br />The Finance Director presented the projection dashboard to the Committee <br />stating that the projections are similar to those presented at the June meeting <br />with the only changes an increase in projected Franchise Tax and a decrease in <br />projected Water User Fees. <br />Finance Director Watson stated it may be prudent to revisit the estimates <br />provided by several departments to ensure revenue estimates are still in line <br />based on the current trends. <br />Mayor Muckle stated concern over the reduced lodging tax revenues and <br />encouraged staff to reach out to the establishments. City Manager Fleming <br />stated he would discuss with the Economic Development Director and inquire as <br />to whether or not links to Louisville Hotels/Motels could be set-up on the City’s <br />web page. <br />FINANCIAL STATEMENTS FOR THE PERIOD ENDING JUNE 30, 2013 <br />The Accounting Manager, Graham Clark presented the financial statements for <br />the month ending June 30, 2013. The reports include the statements for all <br />funds as June represents the end of a quarter. <br />4 <br />