Finance Committee Agenda and Packet 2015 08 17

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City Council Finance Committee Meeting Minutes 07/20/15 Page 3 of 4 FINANCIAL STATEMENTS FOR THE PERIOD ENDING JUNE 30, 2015 Kevin Watson, Finance Director, presented to the Committee the financial statements for the months ending June 30, 2015. Committee Members discussed concern at the lower than expected revenues for Water Utility Fund. City Manager Fleming and Finance Director Watson stated that the tap fees expected have not yet been recognized and that the revenues would be reassessed in the Fall. Also noted by the Finance Committee was the less than expected expenditures in the Capital Projects Fund. Finance Director Watson stated that many projects were delayed by the wet Spring, but that projects should start to catch up in the next few months. The reports and the corresponding narrative can be located in the packet of the July 20, 2015 Finance Committee Meeting. SALES TAX REPORTS FOR THE MONTH ENDED MAY 31, 2015 Tax Manager Bolte presented the monthly sales tax reports for the period ended May 31, 2015. The reports and the corresponding narrative can be located in the packet of the July 20, 2015 Finance Committee Meeting. REVENUE PROJECTION DASHBOARD Finance Director, Kevin Watson stated that the revenue line items highlighted in yellow on the report reflect the actual projections received from the various City departments, and such projections may be revised as the year progresses. Again, Committee Members stated they were concerned at the projections for Water User and Tap Fees. Finance Committee Member Keany stated that the projections for Lodging tax should be monitored as two new hotels are scheduled to open in Boulder late 2015, early 2016. The reports and the corresponding narrative can be located in the packet of the July 20, 2015 Finance Committee Meeting. CASH & INVESTMENTS AT JUNE 30, 2015 The Finance Director presented the Finance Committee with a review of the City's current assets. 4