Finance Committee Agenda and Packet 2015 10 19

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City Council Finance Committee Meeting Minutes 09/14/15 Page 2 of 8 The Committee approved the minutes from the August 17, 2015 meeting as amended. PUBLIC COMMENTS ON ITEMS NOT ON THE AGENDA Resident John Leary stated that the City's budget process should be transparent and reflect not only fund balances but also the source of revenues, both restricted and unrestricted. Mr. Leary stated that he hoped this process would become transparent and not precipitate a Louisville Taxpayer Bill of Rights. UPDATE OF FISCAL IMPACT MODEL Planner, Scott Robinson, presented several data output schedules produced from the marginal cost Fiscal Impact Model created by TischlerBise. Various inputs were used to create the schedules. Planner Robinson stated that, as the Committee requested at the June 29 Finance Committee meeting, staff is currently working to obtain updated City facilities inventory information and updated trails numbers, which information should be available shortly. Planner Robinson also stated that the Fiscal Impact Model includes the City's amended budget. He stated that in running the models, an error was identified in the Urban Renewal Authority formulas, and TischlerBise is working to correct the error. Planner, Scott Robinson stated there are several items not presently included in the Model, and requested feedback from the Finance Committee. Those items include: • Small /Neighborhood Parks — not included, the City does not build but may maintain • Facility Replacement Costs — will be updated and included in the Model based of the Impact Fees Study • Arts, Museum and Niehoff Facilities — not included, uncertain how to measure • Open Space — will be added to the Model • Shared Space with School District — not included Councilmember Stolzmann stated that the City should track acres per person or green space per resident data, and incorporate the information obtained into the Fiscal Impact Model to help determine levels of service. City Manager Fleming and Councilmember Keany agreed. Member Keany stated that he hears feedback from residents that the parks and recreation areas are beyond capacity, and not being taken care of like they used to be. Keany stated that ongoing maintenance expenses for the small and neighborhood parks 3