Finance Committee Agenda and Packet 2016 06 14

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City Council Finance Committee Meeting Minutes 05/16/16 Page 2 of 7 Finance Director, Kevin Watson presented to the Finance Committee the latest version of the Budget Amendment scheduled to be presented at the May 17, 2016 City Council meeting. Councilmember Maloney stated that it is his first exposure to the budget process, and that he is looking to learn whether these carry-forward amounts are typical or are anomalies. City Manager Fleming stated that the ongoing work on several large projects such as the Waste Water Treatment Plant, South Street Underpass and the bridge reconstruction, are outside the norm and have caused a larger than normal amount of budget carry-over. City Manager Fleming and Finance Director Watson stated that the narratives have been expanded or improved to provide City Council additional information. Councilmember Maloney asked Finance Director Watson to explain the reason for the tax revenue adjustments. Director Watson stated that the adjustments reflect the budgeted percent increase to the actual 2015 revenue received instead of the original estimated tax revenue. Finance Committee Chairperson Stolzmann asked about two line items in Appendix B. First, whether the purchase of a new bucket truck in lieu of a used truck was still cost effective as compared to the cost to contract the services, and second, whether the Hellburg Memorial budget amendment was in addition to the fundraising money. City Manager, Malcolm Fleming stated that he was not certain as to whether a detailed analysis or comparison had been done by the requesting department regarding the bucket truck. Finance Director Watson stated that the new truck had not yet been ordered. City Manager Fleming stated that the Hellburg line item reflects the fundraised money only. The documents and corresponding narrative can be located in the packet of the May 16, 2016 Finance Committee Meeting. REVIEW OF NON-PROFIT GRANT PROGRAM AND RELATED PROCESSES Finance Director, Kevin Watson, presented to the Finance Committee a review of the grant process, letters, and document requests used in past years, and asked the Committee Members for their feedback. The Finance Committee Members discussed whether or not to require the organizations to provide their budgets and financial statements. Members unanimously agreed to remove those two elements from the list of required attachments on the grant application. Councilmember Stolzmann stated that the responses to the questions in the application should be concise. Councilmember Maloney asked if the source of 3