Finance Committee Agenda and Packet 2016 12 19

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City Council Finance Committee Meeting Minutes 11/28/16 Page 4 of 8 Watson stated that the reserve policy for the Open Space & Parks Fund provides for the purchase of the top three properties plus 15% of the operation costs. Finance Committee Members discussed the Capital Projects Fund and the timing of the grant reimbursement for the bridge project. Senior Accountant Clark stated it would most likely occur the first part of 2017. Finance Director Watson stated this fund will need to be monitored as part of the costs of construction for the new Recreation Center will need to be paid up front out of the Capital Projects Fund and in advance of the issuance of bonds scheduled for the end of 2017. Senior Accountant Clark stated that user fees are at 103% of budget in the Water Fund due to the dry Fall, and that capital expenditures for the wastewater plant will impact the Wastewater Fund late in the year. Finance Committee Member Maloney asked Public Works Director Kowar if the Water Committee reviews the financial statements of the utility enterprise funds. Director Kowar stated that it is the Water Committee's responsibility to make or review policy questions and not review operations. Member Maloney stated his opinion that it should be part of the duties of the Water Committee to look over the financials. The reports and corresponding narrative can be located in the packet of the November 28, 2016 Finance Committee Meeting. PRESENTATION OF ASSET MANAGEMENT SYSTEM AND DISCUSSION OF ENTERPRISE DASHBOARDS Chairperson Stolzmann asked Director Kowar for an update on the status of the Asset Management System. Director Kowar stated that they are trying to get the mobile application working in order to test the workflow with field personnel. Director Kowar stated that the City server is not communicating with the mobile application and that he is still trying to work on the issue with staff at Lucity and coordinate a resolution. Finance Committee Chairperson Ashley Stolzmann stated that the Committee wants to receive high-level dashboards on a monthly or quarterly basis for each of the Enterprise Funds. Member Stolzmann stated that the initial request was made in January 2016. Kurt Kowar, Public Works Director, stated that data collection could be done but that he does not have available staff time to compile the data and complete dashboards on a monthly basis. City Manager Fleming stated that the Finance Committee is interested in rate, revenue, usage and weather data that will provide trending information.