Finance Committee Agenda and Packet 2015 11 23

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City Council Finance Committee Meeting Minutes 10/19/15 Page 4 of 5 The report and the corresponding narrative can be located in the packet of the October 19, 2015 Finance Committee Meeting. REVENUE PROJECTION DASHBOARD — PROJECTIONS DATED OCTOBER 8, 2015 Finance Director, Kevin Watson, presented the latest dashboard to the Finance Committee members and noted that it represents the final projections for the year. Of note, Director Watson stated that the revenues for Consumer Use Tax, Court Fines and Solid Waste & Recycling Fees were lowered, and the revenue projections for Auto Use Tax, Franchise Tax, Specific Ownership Tax, Water Use Fees and Wastewater Use Fees were increased. Councilmember Keany asked about the disparity in the Water Tap Fees and Wastewater Tap Fees. Specifically, why the Water Tap Fees are coming in above budget, but the Wastewater Tap Fees are significantly below budget. Director Watson stated that the forecast is provided by the Planning & Building Department. City Manager Fleming stated that irrigation taps vary by project, and that the fee rates were unknown at the time the budget was established. Member Keany requested a discussion with Director Troy Russ regarding Tap Fees for the next Finance Committee meeting, November 23, 2015. Finance Committee members discussed the increased impact of the reduced revenue in Solid Waste & Recycling Fees. They discussed the goal to increase working capital and allow for payment of trash services in advance of billing customers. Finance Committee Member Keany asked staff if they know the amount of funding in the Xcel Energy Undergrounding Fund. Keany stated that such available funds should be used to underground the utilities in the 900 block of the Lafarge alley as part of the anticipated work to be done in the area. Tax Manager Bolte stated that the City's current franchise agreement with Xcel provides for the City to request an audit of the undergrounding fund and subsequent report. Member Keany requested staff to initiate the audit request with Xcel. Resident, Angie Layton, asked about providing City -wide WI -FI similar to what the City of Longmont provides. Member Keany stated that Longmont owns its own electric utility and can therefore easily add fiber optic lines, but that Louisville has no similar distribution network. Mayor Muckle stated that City -wide WI -FI would require a ballot issue to voters, and that it is something that has been considered. 7