Finance Committee Agenda and Packet 2015 09 14

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City Council Finance Committee Meeting Minutes 08/17/15 Page 2 of 5 SUSPENSION OF RETAILER HELD HARMLESS SECTION OF THE LMC Tax Manager, Penney Bolte reviewed for the Finance Committee a draft Council Communication and Resolution for the two -year extension of the hold - harmless suspension provision contained in the Louisville Municipal Code. Manager Bolte stated that the provision pertains to the collection and remittance of sales tax, and the use by out -of -state retailers of the State of Colorado certified address database providers' data. The City has determined these databases have errors, specifically along the south McCaslin Blvd. and Dillon Road areas, resulting in Louisville sales taxes being remitted in error to the State of Colorado as Town of Superior revenue. The communication and related documents can be located in the packet of the August 17, 2015 Finance Committee Meeting. UPDATE ON GOLF COURSE ENTERPRISE FUND Finance Director, Kevin Watson, Director of Parks and Recreation, Joe Stevens, and Head Golf Pro, David Baril, presented to the Finance Committee an update on the revenue, expenses, and trends for the golf course since its reopening in July 2015. Finance Committee Member Stolzmann asked whether or not the golf course projections are on track for the year, and what data metrics are being used to measure the current usage and revenues, and to establish future goals. Director Stevens stated that, while the golf course is currently performing below the revenue forecasts, the golf courses expenses have also been lower than anticipated. Director Stevens and Head Pro Baril both discussed with the Finance Committee that there have been many positive indicators and that they are very happy with the number of rounds being played and the driving range usage. Head Pro Baril stated that they have started sending emails with promotional offers, that he is looking for opportunities to build in additional rounds, and that he anticipates improved Pro Shop sales as they refine their merchandise base. Director Stevens stated that they will need to work to develop per round fees for the long term, and discussed that the fixed pricing for the Peak and Summit passes has somewhat skewed the anticipated fees projected. Both Director Stevens and Pro Baril, stated that much work is still needed to market the golf course effectively, but that their main focus has been to ensure the condition of the course and to ramp up and train staff.