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City Council Finance Committee <br />Meeting Minutes <br />09/15/14 <br />Page 2 of 4 <br />DAVIDSON HIGHLINE DITCH COMPANY, PERMIT FEE WRITE -OFF <br />Finance Director Watson presented to the Finance Committee a communication <br />prepared by the Director of Planning and Building Safety, regarding a request to <br />write -off a $32,338 accounts receivable balance related to the Steel Ranch <br />Subdivision. <br />The Subdivision Agreement required the City of Louisville to perform certain <br />public improvements including piping of the Davidson Highline Ditch (Outlots 1 <br />and 2). The work was completed and the bill from Davidson Highline Ditch <br />Company was forwarded to the developer for payment. The developer declined <br />payment under the provisions of the Subdivision Agreement, citing it as a City <br />expense. <br />Upon review by the City Attorney and staff, it is recommended that this amount <br />be written off. The Finance Department requests the approval of the Finance <br />Committee. <br />Committee members unanimously approved the write -off of $32,338. <br />The communication and subdivision agreement can be located in the packet of <br />the September 15, 2014 Finance Committee Meeting. <br />FINANCIAL STATEMENTS FOR PERIOD ENDING AUGUST 31, 2014 <br />Senior Accountant, Graham Clark presented the fund balance statements to the <br />Finance Committee for the first eight months of 2014. <br />Accountant Clark informed the Committee that approximately $2.5M was <br />transferred from the General Fund to Capital Projects, with $2.3M of that amount <br />transferred to the Golf Course. Accountant Clark stated that FEMA funds <br />received for the Golf Course will be booked directly to the Golf Course Fund. <br />Committee members discussed capital projects budgeted for 2014, payment due <br />dates for South Street, City Services Facility, and the DDI, and which projects <br />would rollover into 2015. <br />The reports and the corresponding narrative can be located in the packet of the <br />September 15, 2014 Finance Committee Meeting. <br />SALES TAX REPORTS FOR THE MONTH ENDED JULY 31, 2014 <br />The Tax Manager presented the monthly and quarterly sales tax reports for the <br />period ended July 31, 2014. <br />3 <br />