Finance Committee Agenda and Packet 2015 04 20

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City Council Finance Committee Meeting Minutes 03/16/15 Page 3 of 5 Director Watson asked the Committee if the amendments provided the level of detail desired throughout the project. Finance Committee members approved the revisions noted and incorporating the same into all proposed financial policies. The draft and the corresponding narrative can be located in the packet of the March 16, 2015 Finance Committee Meeting. SALES TAX REPORTS FOR THE MONTH ENDED JANUARY 31, 2015 The Tax Manager presented the monthly, quarterly and year -end sales tax reports for the period ended January 31, 2015. Councilmember Stolzmann requested clarification of the types of businesses remitting sales tax and classified under the "Outside City" area sector. Tax Manager Bolte stated that in addition to the known outside vendors, such as the telecommunications and utilities sector, outside revenue also comes from all vendors located outside the City that provide internet sales, leasing, financing, and other retailers (office supplies, clothing, furniture, etc.). Resident Leary asked Finance Director Watson, if the telecommunications and utility sales tax revenues for commercial businesses were factored into the assumptions for the old Fiscal Impact Model. The reports and the corresponding narrative can be located in the packet of the March 16, 2015 Finance Committee Meeting. CASH & INVESTMENTS REPORT AS OF JANUARY 31, 2015 The Finance Director presented the monthly investment reports for the period ended February 28, 2015. The reports and the corresponding narrative can be located in the packet of the March 16, 2015 Finance Committee Meeting. LIST OF BILLS A list of the bills scheduled for Council approval on March 17, 2015 can be located in the packet of the March 16, 2015 Finance Committee Meeting. Councilmember Keany asked what the City's total contribution will be for the Windy Gap Firming project and at what point, the project would be complete. Finance Director Watson stated that the CIP estimates approximately $500K annually. City Manager Fleming stated that the IGA includes a negotiated 4