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City Council Finance Committee <br />Meeting Minutes <br />08/18/17 <br />Page 5 of 6 <br />City Manager Heather Balser suggested that supplemental information be <br />provided with budget documents to better reflect the parking expenditures and <br />transfers from the General Fund. <br />Finance Committee Members and staff discussed the Lucky Pie parking, noting <br />that this is public property given to a private party for which the City receives rent. <br />Member Stolzmann asked if this "rent" could be used for capital expenses incurred. <br />Mayor Muckle stated that this revenue is "rent" and not "parking fees". Director <br />Watson stated that the rent is recorded to the General Fund. The Finance <br />Committee Members agreed this classification is appropriate. <br />Finance Director Kevin Watson distributed an example of a revenue and <br />expenditure report for the Recreation Center and Memory Square Pool for Finance <br />Committee review, and to discuss how the new Recreation Center sales and use <br />tax will be recorded. The Finance Committee agreed that the Recreation Center <br />sales and use tax revenue, which will start January 1, 2018, will be recorded in the <br />General Fund. <br />The Finance Committee stated the report was very good and that they would <br />actually like a similar format used for the requested Enterprise Fund Dashboards. <br />The reports and corresponding narrative can be located in the packet of the August <br />18, 2017 Finance Committee Meeting. <br />REVENUE PROJECTION DASHBOARD — PROJECTIONS DATED AUGUST <br />11, 2017 <br />Finance Director Kevin Watson presented the Finance Committee the 2017 <br />Revenue Projection Dashboard. <br />Director Watson pointed out the continuing upward trend for sales tax at 10% <br />above 2016. Finance Committee Members Maloney and Stolzmann asked if there <br />was an update on what projects have been delayed resulting in the significant <br />downward projection for Building Use Tax, Construction Permits, Impact Fees, etc. <br />Interim City Manager Balser stated she would follow-up with an email to Planning <br />and Building Safety Director Rob Zuccaro as to why actual revenue is so different <br />from what was projected. <br />The reports and corresponding narrative can be located in the packet of the August <br />18, 2017 Finance Committee Meeting. <br />CASH & INVESTMENTS AT JULY 31, 2017 <br />6 <br />