Finance Committee Agenda and Packet 2016 10 17

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City Council Finance Committee Meeting Minutes 09/19/16 Page 5 of 7 that the objective for all Enterprise Funds in the next year or two should be to set out the long term goals and needs, and then set target reserve amounts needed to pay for future capital expenditures and growth. CONTINUED DISCUSSION OF FISCAL IMPACT MODEL Finance Committee Member Maloney provided the Committee an update on the review of the Fiscal Impact Model stating that he had met with Planner Scott Robinson. Mr. Maloney shared that there are many "defaults" in the Model that reference no specific data source, such as income level. Conversations held with the Tischler Bise consultant confirmed that these "defaults" are typical to those used by similar firms in the industry. Committee Member Maloney stated for example, that the build -out assumptions for McCaslin seem very aggressive and that he would anticipate a much slower rate of growth. Mr. Maloney stated that he, Planner Robinson, and Director Watson would be meeting on Wednesday to look at the revenue projections from the Model. Member Dennis Maloney stated that the implications of using the Model with so many unknown data "defaults" imbedded, needs to measured and analyzed. Mr. Maloney requested continued discussion on the Fiscal Impact Model be added to the next Finance Committee Meeting agenda. DASHBOARDS STATUS Finance Director Kevin Watson stated that he had not been provided any dashboards to include in the Finance Committee Packet. Finance Committee Member Dennis Maloney stated that he believed a Golf Course dashboard with graphs and projections was being distributed tonight at the Golf Course Advisory Board Meeting. Chairperson Stolzmann stated that she had not seen the Golf Course dashboard and commented that she would like the Recreation Center dashboard put on a future Finance Committee Meeting agenda. Member Maloney stated that dashboards should be provided to Director Watson for inclusion in the Finance Committee packet for Finance Committee Member comments and suggestions. Senior Accountant Graham Clark presented to the Committee drafts of two sample financial reports created from Munis, one for the General Fund summarized by Program, and one for the Water Fund summarized by Division. Mr. Clark asked for feedback from the Finance Committee Members as to whether one of these reports reflected how they would like to see revenue and expenditures reported. 6