Finance Committee Agenda and Packet 2018 11 19

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City Council Finance Committee Meeting Minutes 10/15/18 Page 4 of 8 Finance Committee Members and staff briefly discussed the Recreation/Senior Center sales tax revenue for 2018. City Manager Balser stated that the issue would be discussed with the Finance Committee in March 2019 when year-end revenue is known. Member Lipton asked about the 5% decrease in user fees within the Water Utility Fund. Member Lipton asked about the management strategy to address the shortfall, stating that increasing fees should not be the automatic answer. Committee Members and staff discussed that better estimates are needed for user and tap fees, vacancy savings, and the need for a bridge between the Finance Committee and the Water Committee. City Manager Balser stated that this would be discussed further in March 2019 when year-end revenue and expenses are known. Member Lipton requested Director Watson add footnotes for any funds where there is a planned fund balance reduction. Finance Committee Chairperson Maloney stated that he has no confidence in the revenue or expense estimates provided in the Golf Course financial statement. Staff reiterated that they would be meeting with Golf Course staff later this week to discuss how these estimates were derived. The reports and corresponding narrative can be located in the packet of the October 15, 2018 Finance Committee Meeting. CAPITAL IMPROVEMENT PROGREAM (C-I-P) REPORT FOR THE QUARTER ENDED SEPTEMBER 30, 2018 Accounting Manager Cara Golden presented the report to the Finance Committee Members. Finance Committee Member Lipton asked the purpose of the report and whether items are actionable. Finance Director Watson and City Manager Balser stated that the report was designed to answer Finance Committee questions in advance of budget amendments and carry forwards for various projects. City Manager Balser stated that a significant amount of work has been put into consolidating project information and identifying the data helpful to the Finance Committee for this purpose. Director Watson stated that a new Fixed Asset Accountant would be coming on board soon. The new accountant will take over this report and will be working closely with Public Works staff. Chairperson Maloney stated that he likes the addition of the approved date column, noting that there are a lot of projects listed that will not be completed this year. Chairperson Maloney stated he would be in favor of eliminating projects under $100K from the report. Finance Committee Member Lipton suggested 5