Finance Committee Agenda and Packet 2016 06 14

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City Council Finance Committee Meeting Minutes 05/16/16 Page 3 of 7 funding was necessary information. Finance Committee Members discussed and agreed to keep the source of funding a part of the application. Ms. Stolzmann requested discussion by Finance Committee Members of the goals of the grant program. Mayor Muckle stated his opinion that the program should be to help provide basic human needs. Members discussed and agreed that while basic needs should be the focus of the program, it should not be exclusive of all other applicants. The Finance Committee agreed unanimously that the following statement "One priority of the grant program is to fund basic human services that the City cannot provide on its own", be added by staff to the grant application cover letter. Chairperson Stolzmann requested the Committee Members and staff review section 3.04.100 of the Louisville Municipal Code regarding appropriations for public purpose, stating that section (C) prohibits money from being appropriated to entities which may be "wholly or in part under sectarian or denominational control." Members discussed that this provision applies to many of the organizations to which the City has provided grants in the past. The Finance Committee requested City Manager Fleming have the City Attorney review this section of the Code and provide guidance to the Finance Committee. Members stated that it may be necessary to bring this issue to the full City Council for discussion. Finance Committee Member Stolzmann requested that the Circles Program be added to the list of non-profit organizations to receive the grant letter. The forms and corresponding narrative can be located in the packet of the May 16, 2016 Finance Committee Meeting. DISCUSSION OF CAPITAL IMPROVEMENTS PROGRAM AND CAPITAL PROJECTS FUND Finance Director Watson presented the Finance Committee the summary charts and graphs of the 2017-2019 Requested Capital Improvements Plan, stating that City Manager Fleming would be presenting his final recommendations to the full City Council in June. City Manager Fleming stated that he will be looking for City Council to review and identify any differing opinions on the projects approved, and to prioritize the final listing. Finance Committee Members and staff discussed various funding sources provided in the charts and reviewed the Long-Term Financial Model Assumptions. Councilmember Maloney directed the conversation to what level of fund balance should be maintained. Director Watson stated that there is no policy in place to 4