Finance Committee Agenda and Packet 2019 05 17

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City Council Finance Committee Meeting Minutes 04/22/19 Page 4 of 8 but also that he liked Director Watson's statement that the City Council could determine by resolution, the use of the funds. Member Maloney stated he did not mind the phrase "and other general fund purposes", but understands the perception and would also like to see a separate fund. The Finance Committee and staff discussed that the amount of tax collected in the first year still needs to be determined. Deputy City Manager Davis that she would provide an analysis of the cultivation excise taxes of other cities and report back to the Committee with a recommendation. City Manager Heather Balser stated both Ballot questions would be brought to the full City Council for discussion at their June 4 meeting. The reports and corresponding narrative can be located in the packet of the April 22, 2019 Finance Committee Meeting. DASHBOARDS FOR FIRST QUARTER 2019 Golf Course The Finance Committee reviewed the Q1 dashboard for the Golf Course. Finance Director Kevin Watson stated that for 2018, the Golf Course exceeded its total appropriation and will be disclosed in the annual financial statements. Finance Committee Member Lipton stated that the dashboard provided includes certain revenue sources and expenses that skew the actual performance analysis; such as insurance recovery revenue, annual pass revenue, and one-time expenses. Member Lipton stated that there needs to be better and more accurate matching of the two, and that the budget numbers are wrong. Director of Parks & Recreation Nathan Mosley stated that golf course rounds were down by about 2K, and that David Baril had been working hard to minimize expenses. Head Golf Course Professional Baril stated that they had recently experienced the highest revenue day ever recorded for the Golf Course, and acknowledged that it is very difficult to anticipate revenue for each Q1 and Q4. Chairperson Maloney stated that the dashboard needs to annualize revenue and provide a snapshot by quarter after any anomalies for revenue and expenses is removed. Director Mosley stated that adding comparisons to the same last quarter may help with dashboard analysis as well. Recreation/Senior Center 5