Finance Committee Agenda and Packet 2014 12 15

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City Council Finance Committee Meeting Minutes 11/18/14 Page 2 of 3 REPORT OF NET SALES TAX PRESENTED AT DRCOG Councilmember Stolzmann presented the 2012 Net Sales Tax Value report to the Finance Committee. Member Stolzmann stated that the Boards has shifted focus from population as an indicator to determine small community support to using net sales tax values A copy of Councilmember Stolzmann's presentation, the DRCOG sales tax report, and corresponding narrative can be located in the packet of the November 18, 2014 Finance Committee Meeting. NON - PROFIT FUNDING REQUESTS FOR 2015 Finance Director Watson presented a summary of the organizations requesting grants /contributions for 2015. Committee Members unanimously agreed that more time would be needed to review the submittals, and before they make their recommendations. Members discussed the need for a consolidated accounting of the City's contributions, and to include funding to the DBA, Chamber of Commerce, Louisville Cultural Council, and Habitat for Humanity to gain a full understanding of the City's current community funding levels. Councilmember Keany and Mayor Muckle indicated their desire to increase the budget for City non - profit grants in the future based on the City's overall increase in tax revenues over the last few years. Councilmember Stolzmann stated that she wants to ensure contribution efforts are not duplicated and believes the City currently funds entities such as Community Food Shares and the Louisville Cultural Council which may also allocate a part of its funds to certain applicants requesting City grants. Member Stolzmann stated that better coordination efforts could result in funds being available to a broader group of non - profits. The Finance Committee requested staff to include the grant applications again in the packet for the December 15, 2014 meeting but omit the financial statement data. FINANCIAL STATEMENTS FOR PERIOD ENDING OCTOBER 31, 2014 3