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City Council Finance Committee <br />Meeting Minutes <br />07/18/16 <br />Page 4 of 6 <br />Mr. Bise stated that he could change the Fiscal Impact Model in a day or two. <br />The Finance Committee and staff agreed that the cost/value must be weighed <br />and the true impact or benefits of any such changes carefully thought out. <br />City Manager Fleming stated that the primary purpose of the Fiscal Impact Model <br />is to ensure fiscal sustainability by providing for a wide range of possibilities <br />through the input of various assumptions and scenarios. Manager Fleming <br />stated his concerns that the Model is very robust and may be too sophisticated <br />for the City's needs. He stated he is cautious about the level of precision and <br />accuracy that can be attained without investing in substantial staff resources. <br />Mayor Muckle stated his opinion that the Fiscal Impact Model is just one piece of <br />the puzzle to guide the City in quality of life and small area plan issues. Mayor <br />Muckle stated that it should be up to City Council to determine the role of the <br />Model, to consider all other factors, and to find a balance that will ensure Council <br />provides sound policy direction to staff. <br />The Committee requested that an updated version of the model (including <br />changes for office worker spending) be presented at a future meeting. <br />SALES TAX REPORT FOR THE MONTH ENDED MAY 31, 2016 <br />Penney Bolte, Tax Manager, presented to the Committee the monthly sales tax <br />reports for the period ended May 31, 2016. <br />The reports and corresponding narrative can be located in the packet of the July <br />18, 2016 Finance Committee Meeting. <br />FINANCIAL STATEMENTS FOR THE MONTH ENDED JUNE 30, 2016 <br />Kevin Watson, Finance Director presented to the Finance Committee the <br />financial statements for the first six months ending June 30, 2016. <br />Finance Committee Members asked about the low Golf Course revenue. <br />Finance Director Watson stated that the latest Golf Course revenue projections <br />received from the Parks & Recreation Department are down about $600K from <br />budget, but that expenditures may also be lower than anticipated. City Manager <br />Fleming stated that he is disappointed in the numbers but expects future months <br />to improve, and also that the City's payment from the golf course food vendor <br />would be received soon. <br />Committee Members stated that providing a dashboard with visual reference will <br />be helpful. <br />5 <br />