Finance Committee Agenda and Packet 2017 04 17

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City Council Finance Committee Meeting Minutes 03/20/17 Page 5 of 8 same. Director Watson stated that there has been no policy established regarding the use of the sales/use tax revenue. Chairperson Stolzmann and City Manager Fleming stated that the Finance Committee and City Council need to work on a policy that identifies the sources of funds and the use of funds by sub- program and fund. Chairperson Stolzmann stated that a timeline is needed for making decisions regarding property acquisitions and possible delayed projects. City Manager Fleming stated that the entire City Council should be included in any policy decision discussions, and that department directors should be present to answer questions or for any discussions of project delays. Finance Committee Member Maloney stated that decisions regarding the sources and uses of funds should be reviewed at a future study session, as well as the review of the Open Space & Parks budget for any potential operational savings. The reports and corresponding narrative can be located in the March 20, 2017 packet of the Finance Committee Meeting. ENTERPRISE DASHBOARDS The Finance Committee Members reviewed the dashboards provided by the Golf Course. Golf Pro David Baril stated that most of the variances are annual pass sales, noting that the sales levels for March have been high with levels not normally seen until May. Finance Committee Chairperson Ashley Stolzmann asked whether or not the golf course intended to purchase a sign this year, stating that it would be a good marketing tool that could increase visits and revenue for the golf course. Finance Committee Member Maloney stated the golf course is the most market driven of all the City's enterprise funds. Parks and Recreation Director Joe Stevens stated that there are not currently sufficient funds to pay for a golf course sign and that he wants to remain cautious and conservative in spending to ensure the golf course provides an appropriate return on investment. Director Stevens stated that the last estimate received in 2013 for a sign was between $50-60K and was dependent on the size, design, landscaping and lighting desired, all which would increase the cost. Member Stolzmann stated that the golf course should not be cut off from using revenue that is anticipated later in the year. Ms. Stolzmann asked Finance Director Watson what the process is to authorize an appropriation. Director Watson stated the golf course could request the expenditure and that a budget amendment would be brought to City Council for approval. 6