Finance Committee Agenda and Packet 2018 03 12

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City Council Finance Committee Meeting Minutes 02/19/18 Page 2 of 7 Committee Meeting for the Fiscal Impact Model, stating that the discussion should be about the use of the Model not the mechanics of the Model." The Finance Committee Members approved the January 19, 2018 meeting minutes as amended. PUBLIC COMMENTS ON ITEMS NOT ON THE AGENDA None. FINANCE COMMITTEE 2018 WORK PLAN REVIEW Finance Committee Members reviewed the latest draft of the 2018 Finance Committee Work Plan. Members agreed the plan is very front-end loaded due to the budget process. Finance Committee Member Lipton requested "for Financial Advisor" be removed from the title of the Second Quarter review item for Bond Council - RFP. Finance Committee Members also agreed to move the Annual "Turnback" Discussion from the March Finance Committee Meeting to April. Finance Committee Chairperson Maloney requested staff make the necessary changes and provide the amended 2018 Work Plan to the Finance Committee at the next regularly scheduled meeting. The draft of the Finance Committee 2018 Work Plan can be located in the packet of the February 19, 2018 Finance Committee Meeting. SALES TAX REPORT FOR THE MONTH ENDED DECEMBER 31, 2017 Tax Manager Penney Bolte presented the sales tax reports for the month, quarter, and year ending December 31, 2017 to the Finance Committee. Finance Committee Member Lipton and Maloney requested the narrative describing sales tax revenue and the comparisons to budget, projections, or prior years, be improved to provide better clarity. Specifically, to exclude audit revenue and provide a clearer indication of the actual sales tax revenue trend. Tax Manager Bolte asked Finance Committee Members for direction regarding the narrative information provided for the Top 50 vendors, and the selection of the Top 50 vendors. 3