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<br />City Council Finance Committee <br />Meeting Minutes <br />03/03/08 <br />Page 2 of 2 <br /> <br />BUDGET AMENDMENT <br /> <br />The Finance Director presented the proposed budget amendment scheduled for <br />the March 18, 2008 Council Meeting. The line item detail of the amendment and <br />the corresponding narrative can be located on the City's website at <br />www.ci.louisville.co.us. The Finance Committee recommended the following <br />changes to the proposed budget amendment: <br />. Eliminate $8,000 for the Volunteer Brunch (010-141-53700.03). <br />. Eliminate the additional $5,800 for bus service (010-728-53100.42). <br />· Eliminate the proposal to expend the Nextel lease payment revenue in the <br />amount of $16,200 (010-754-53500.04). In addition, the Committee <br />recommended that the Nextel lease payments be designated for capital <br />projects. <br />. Eliminate the $20,000 addition to the Louisville Arboretum Project in the <br />Conservation Trust - Land Acquisition Fund (028-799-55330.11) and add a <br />rollover of $20,000 to the Louisville Arboretum Project in the Conservation <br />Trust - Lottery Fund (029-799-55330.12). <br />. Eliminate the $500,000 for Radio Frequency Readouts and add a much <br />lesser amount (approximately $15,000) for the purchase of new meters (051- <br />499-55460.04). <br />. The Committee also requested a schedule summarizing the annual budget- <br />to-actual variances by department. <br /> <br />PRESENTATION OF LONG-TERM FINANCIAL MODEL <br /> <br />The Finance Director presented current revenue assumptions, expenditure <br />targets, and projected changes to fund balances from the long-term financial <br />model. The PowerPoint slides can be located on the City's website at <br />www.ci.louisville.co.us. <br /> <br />DISCUSSION ITEMS FOR THE NEXT MEETING <br /> <br />The next regularly scheduled meeting of the Finance Committee will be March <br />17,2008. Discussion items currently scheduled for that meeting are: <br />. Financial Statements for the Period Ended February 29,2008 <br />. Sales Tax Reports for the Period Ended January 31,2008 <br />. Cash and Investments Balances as of February 29, 2008 <br /> <br />ADJOURN <br /> <br />The meeting was adjourned at 5:30 p.m. <br /> <br />3 <br />