Finance Committee Agenda and Packet 2017 09 18

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City Council Finance Committee Meeting Minutes 08/18/17 Page 2 of 6 ENTERPRISE DASHBOARDS The Finance Committee Members reviewed the dashboard provided by the Golf Course and had no questions. Finance Committee Members requested David Baril provide the dashboard through August for the Committee to review in September. Thereafter, until the season starts again next spring, the Finance Committee would only request the dashboard be provided quarterly. Finance Committee Member Maloney asked if the expectation of, and timeline for receiving the dashboards for the other enterprise funds, including the Recreation Center, has been conveyed. Member Maloney stated that providing the dashboards needs to be matched to the budget process and include operations data in addition to revenue. Member Stolzmann agreed that the requested dashboards should be provided quarterly and should tie in any capital needs. Interim City Manager Heather Balser stated that she would communicate the needs and timeline of the dashboards and make sure all are provided by the end of the year. The Committee Members and staff agreed that beginning 2018, all the requested dashboards would be received quarterly. The Finance Committee Members discussed and agreed that they would issue a memo to department directors outlining the dashboard request and frequency. The reports and corresponding narrative can be located in the August 18, 2017 packet of the Finance Committee Meeting. UPDATE ON AUDIT PROPOSALS Finance Director Kevin Watson informed the Finance Committee Members that five audit services proposals have been received by the City in response to the Request For Proposal (RFP). Director Watson stated that finance staff will be reviewing the technical and cost proposals later in August and will have a recommendation for the Finance Committee in October. Director Watson also informed the Finance Committee that he had been working to extend the current Banking Services agreement with 1st National Bank as previously approved by the Committee. Director Watson stated that 1St National is proposing increases in fees citing that the City of Louisville has been assessed below-market fees for some time. Director Watson stated that he would update the Finance Committee if no agreement can be reached. Finance Committee Members and staff discussed how intertwined banking services are with new ERP system. 3