Finance Committee Agenda and Packet 2016 09 19

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City Council Finance Committee Meeting Minutes 08/15/16 Page 4 of 8 increases in income. The Committee discussed what data or methods are available to capture resident spending, and whether items bought on the internet and goods purchased that are not available in the City, could be isolated. Member Stolzmann raised two concerns; one, the reduction in vehicle trip rates for mixed use areas and whether or not that would apply for Louisville, and two, the 80/20 split for resident versus non-resident Police calls. Resident Leary asked how you measure "slack" when using marginal cost analysis. Mr. Leary stated that Council Member Keany recently stated the City has a 10% revenue shortfall and asked what does a 10% slack mean? Member Maloney stated that there needs to be agreement on certain methodologies used in the Fiscal Impact Model, and stated that updates should be done more frequently than every 5 years. Resident, John Leary asked how the Fiscal Impact Model lines up with the Small Area Plan. Mayor Muckle stated the Small Area Plan should be pushed back if progress can be made with the Fiscal Impact Model. Chairperson Stolzmann asked members how they wished to proceed with the Fiscal Impact Model. Council Member Maloney stated that he would plan to meet with Planner Robinson to review the statistical data provided and bring back a recommendation to the Finance Committee prior to the Small Area Plan coming before Council. Chairperson Stolzmann requested that Finance Director Kevin Watson participate in the meetings. The reports and corresponding narrative can be located in the packet of the August 15, 2016 Finance Committee Meeting. SALES TAX REPORT FOR THE MONTH AND QUARTER ENDED JUNE 30, 2016 Penney Bolte, Tax Manager, presented to the Committee the monthly and quarterly sales tax reports for the period ended June 30, 2016. Manager Bolte stated that adjustments were made in June to the McCaslin and Outside City areas, and also to the Food Stores and Automotive sectors due to the miscoding of a few taxpayers earlier in the year. Ms. Bolte stated that the monthly totals for these sectors and areas are skewed, but that the year-to-date totals reflected on the quarterly reports in the packet are correct. The reports and corresponding narrative can be located in the packet of the August 15, 2016 Finance Committee Meeting. 5