Finance Committee Agenda and Packet 2018 11 19

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City Council Finance Committee Meeting Minutes 10/15/18 Page 2 of 8 Finance Committee Chairperson Maloney stated that the daily admissions numbers are a little more positive through the construction than he had anticipated, though both Members Lipton and Maloney stated that Membership Fees declined more significantly. Finance Director Watson distributed a revised Revenue Trend Dashboard which indicates the original amounts budgeted for 2018 will be more probable than the projections most recently provided by Recreation staff. Finance Committee Member Lipton asked who is providing the projections for the Recreation/Senior Center, noting that the latest projection for Memberships is $100K higher than what was originally budgeted. City Manager Balser stated that she would have Recreation/Senior Center staff present at the next Finance Committee meeting in November to answer the Committee's questions. Member Lipton requested the Finance Committee receive more real-time data and trends for admissions by pass type for the next few months. Finance Committee Members discussed the Golf Course dashboard. Director Watson and City Manager Balser stated that they would be meeting with the Golf Course Pro David Baril later in the week to review their budget, and try to get a handle on costs for current service levels. Director Watson stated that the updated information would be incorporated into the budget to be presented to City Council on October 23, 2018. The reports and corresponding narrative can be located in the packet of the October 15, 2018 Finance Committee Meeting. FINANCIAL STATEMENTS FOR THE QUARTER ENDED SEPTEMBER 30, 2018 Director Watson presented to the Finance Committee the financial statements for all (19) of the City's budgeted funds. Director Watson stated that the current estimates included in the statements are the same as was included in the last budget packet presented to City Council. Chairperson Maloney stated that he likes the format of the statements, including the graphs and the footnotes. Finance Committee Member Lipton asked about the impact of the hail storm to sales tax revenue estimates. Director Watson stated that any increase in revenue would be seen primarily in building use tax and minor permit fees. Director Watson stated that Director Zuccaro had recently provided revised projections to reflect these increases, and that such projections would be reflected in the budget to be presented October 23, 2018. Committee Member Lipton stated that he does not want these one-time revenues factored into the 2019/2020 budget. Director 3