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City Council Finance Committee <br />Meeting Minutes <br />12/15/15 <br />Page 2 of 5 <br />Committee Chairperson, Ashley Stolzmann opened the meeting stating the goals <br />and responsibilities of the Finance Committee for the upcoming year. Council <br />Member Stolzmann started by reviewing the existing business routinely <br />presented to the Committee, including monthly reporting of cash and <br />investments, bills, sales tax reports and financial statements. On an annual <br />basis the Finance Committee reviews the CAFR, annual audit findings, CIP <br />forms and requests, non - profit grant funding, and City fees. <br />Member Stolzmann stated that throughout the upcoming year she would like to <br />see various topics added to the Finance Committee agendas for discussion. <br />These topics include; ERP updates, discussions on reporting out of the new ERP <br />system that would benefit the Finance Committee and staff; program budgeting <br />and description improvements, 2 -yr. and multi -year budgeting, City Fees, and <br />Public Works new asset management software. <br />Council Member Maloney stated that he would like to see financial dashboard <br />reporting for the enterprise and other funds. Member Maloney stated that he <br />would also like to review the City fees but only as a means to develop long term <br />goals by enterprise or fund that cover costs, not with the intent to manage all <br />fees. <br />City Manager Fleming stated that there are hundreds of fees, and that it is not <br />currently possible to provide the level of detail desired by the Committee. <br />Manager Fleming stated that the new ERP should be able help calculate the <br />actual costs and fees more accurately. <br />Member Stolzmann stated that City fees account for a huge amount of the City's <br />revenue and that the fees need to be reviewed in broad categories for ensure <br />they are covering the expenses of various programs. <br />Member Maloney suggested the Committee and staff start with the enterprise <br />funds, such as the Golf Course. He suggested the Finance Committee and staff <br />determine the metric and financial data necessary to provide the Committee with <br />meaningful indicators, and then create a dashboard. Member Maloney stated <br />that each subsequent dashboard could be created using the same process. <br />Mayor Muckle stated that the review of fees is most practical at year -end, but an <br />in depth review would delay setting new fees. Member Maloney stated that <br />indeed the result may be that fees are increased mid -year. <br />Council Member Stolzmann stated that obtaining the necessary information in a <br />usable way would improve the budget process and make funding decisions for <br />the full City Council easier. Member Stolzmann also stated that the Finance <br />Committee needs to coordinate better with other boards and commissions to <br />prevent duplication of efforts. Mayor Muckle stated that he did not want to get <br />