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City Council Finance Committee <br />Meeting Minutes <br />04/17/17 <br />Page 4 of 6 <br />The reports and corresponding narrative can be located in the April 17, 2017 <br />packet of the Finance Committee Meeting. <br />FINANCIAL STATEMENTS FOR PERIOD ENDING MARCH 31, 2017 <br />Senior Accountant Graham Clark presented the financial statements to the <br />Finance Committee. <br />Mr. Clark noted higher trends in the General Fund for Cultural Services and <br />Admin & Support programs, but also that the City's insurance premiums for the <br />full year have also been paid. Finance Committee Member Maloney asked <br />Accountant Clark if the General Fund is trending as expected. Mr. Clark stated it <br />is. <br />Senior Accountant Clark stated there is no rate increase reflected for the Water <br />Utility Fund as has been in prior years. For the Wastewater Utility Fund, Mr. <br />Clark stated the average winter consumptions will be calculated in April and the <br />7% rate increase would take effect in May. Chairperson Stolzmann asked Mayor <br />Muckle if the Wastewater Plant was over budget. City Manager Fleming and <br />Mayor Muckle concurred that the project is within budget with 1-1.5M in <br />contingency. Mayor Muckle stated that the new rates assumed full use of the <br />contingency. <br />Senior Accountant Clark informed the Finance Committee Members that the <br />City's auditors from Eide Bailley have started their audit fieldwork, and that based <br />on limited activity, no 1st quarter CIP listing was prepared for this meeting. <br />Finance Committee Member Stolzmann asked City Manager Fleming if the City <br />was holding off on projects intentionally. Manager Fleming stated that impact <br />fee -related projects are being delayed. <br />Director Watson stated that the reallocation of costs for the program budgeting <br />resulted in negative equity in the Solid Waste & Recycling Utility Fund. Senior <br />Accountant Clark also noted that the Golf Course Fund is $47K higher this year <br />than the same time last year, and that 2016 ended as a break-even year. <br />Finance Committee Members and staff discussed a policy is still needed to <br />designate fund balances for the Golf Course. <br />The reports and corresponding narrative can be located in the April 17, 2017 <br />packet of the Finance Committee Meeting. <br />SALES TAX REPORT FOR THE MONTH ENDED FEBRUARY 28, 2017 <br />5 <br />