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City Council Finance Committee <br />Meeting Minutes <br />08/18/17 <br />Page 3 of 6 <br />The report and corresponding narrative can be located in the packet of the August <br />18, 2017 Finance Committee Meeting. <br />SALES TAX REPORT FOR THE MONTH AND QUARTER ENDED JUNE 30, <br />2017 <br />Tax Manager Penney Bolte presented the sales tax reports for the month and <br />quarter ended June 30, 2017 to the Finance Committee. <br />Ms. Bolte informed the Members that the June reports include the amended <br />revenue projections from the 2017 Revenue Projection Dashboard presented last <br />month. <br />Ms. Bolte also informed the Finance Committee that several restaurant entities are <br />delinquent remitting sales tax resulting in lower revenue for the month in certain <br />taxing areas. <br />Finance Committee Member Maloney and Stolzmann raised questions regarding <br />addressing and tax collection issues between the Town of Superior and the City of <br />Louisville. Manager Bolte stated that the City has formed GIS Committee that is <br />working to identify all Louisville addresses. Once the base addressing is complete, <br />this information will be provided to the State -certified database providers for use <br />by out-of-state, and internet retailers, to determine the proper tax rate and <br />jurisdiction. <br />Finance Committee Chairperson Stolzmann asked that the Town of Superior be <br />apprised of the final Louisville addresses to ensure none of their addresses have <br />been incorrectly included. Member Stolzmann stated that Superior has indicated <br />concern that some of their sales tax revenue may be being remitted to the City of <br />Louisville in error. <br />The reports and corresponding narrative can be located in the packet of the August <br />18, 2017 Finance Committee Meeting. <br />FINANCIAL STATEMENTS FOR THE MONTH ENDED JULY 31, 2017 <br />Senior Accountant Graham Clark presented the financial statements for the period <br />ending July 31, 2017. <br />Mr. Clark noted there are two new statements; one for the Recreation Bond Fund <br />and one for the Recreation Center Debt Fund. <br />Accountant Clark stated that the higher revenues in the General Fund are <br />attributed to Court Fines and Business Licenses, and that the increase in the Open <br />4 <br />