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City Council Finance Committee <br />Meeting Minutes <br />11/28/16 <br />Page 7 of 8 <br />• Senior Accountant Graham Clark asked for clarification of the Re -use <br />Water Fee which revised fee states it is to be 75% of Residential Rate. It <br />was discussed that this percentage would be based on the base rate of <br />the lowest residential tier. City Manager Fleming and Director Watson <br />stated that clarification should be sought from Public Works Director <br />Kowar. <br />The draft amendment and fee schedules can be located in the November 28, <br />2016 Finance Committee packet. <br />2016 BUDGET AMENDMENT <br />Kevin Watson, Finance Director, presented a draft of the Resolution and <br />reviewed with the Finance Committee Members the tables reflecting the <br />adjustments. <br />Director Watson stated that with the defeasance of the Interfund loan between <br />the Golf Course Fund and Wastewater Fund, the Golf Course Enterprise Fund <br />will lose its TABOR status for one year. <br />The reports and corresponding narrative can be located in the packet of the <br />November 28, 2016 Finance Committee Meeting. <br />DASHBOARDS <br />Finance Director Kevin Watson presented to the Finance Committee Members <br />the Golf Course dashboards received from staff. <br />Finance Committee Members stated that the dashboards were heading in the <br />right direction but needed to be pared down. Committee Members commented <br />that new members would be appointed to the Golf Course Advisory Board, and <br />that they could work to refine the dashboard reports. <br />The dashboards can be located in the packet of the November 28, 2016 Finance <br />Committee Meeting. <br />CASH & INVESTMENTS AT OCTOBER 31, 2016 <br />Finance Director Kevin Watson presented the monthly report from Chandler <br />Asset Management to the Finance Committee Members. <br />Finance Committee Member Maloney asked Finance Director Watson what the <br />current YTD return on investment rate was running. Director Watson stated <br />approximately 0.70%, noting that the actual ending rate of return for the year <br />would be the rate used to book interest for all Interfund loans. <br />8 <br />