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City Council Finance Committee <br />Meeting Minutes <br />10/25/19 <br />Page 4 of 6 <br />that he is taking steps to balance the budget by cutting $1M for (2) projects. This <br />will be in addition to operational staff savings due to vacancies. <br />Finance Committee Chairperson Maloney asked if a 3-year average could be <br />added to the Cumulative Revenue Year over Year graph for Water. Analyst <br />Ahrens stated he would look into the revision. <br />The report and corresponding narrative can be located in the packet of the October <br />25, 2019 Finance Committee Meeting. <br />CAPITAL IMPROVEMENT PROGRAM REPORT FOR THE QUARTER ENDED <br />SEPTEMBER 30, 2019 <br />Accounting Manager Cara Golden presented the Capital Improvements Program <br />report through September 30, 2019 to the Finance Committee. Manager Golden <br />highlighted for the Committee that columns had been added to the report design <br />for "Annum of initial budget approval" and "Not Started". <br />Finance Committee Member Lipton asked to have a column added for the "Original <br />Budget". Member Lipton asked how "scope changes" are captured. The Finance <br />Committee and staff discussed that change orders are generally covered by <br />contingency funds, but that not all capital investments include a contingency. <br />Members and staff also discussed that project delays are sometimes due to a 3rd <br />parties (e.g. Public Service), and sometimes in finding personnel to perform work <br />at a reasonable price in a reasonable time -frame. <br />The reports and corresponding narrative can be located in the packet of the <br />October 25, 2019 Finance Committee Meeting. <br />REVENUE PROJECTION DASHBOARD <br />Director Watson presented the last dashboard for 2019. Director Watson <br />highlighted a substantial increase in sales tax revenue due to audit revenue, and <br />slight increases in the projections for Lodging Tax, Franchise Fees, Marijuana Tax, <br />Court Fines and State Lottery. The projection for Consumer Use Tax was reduced. <br />Finance Committee Members had no questions. <br />The reports and corresponding narrative can be located in the packet of the <br />October 25, 2019 Finance Committee Meeting. <br />FINANCIAL STATEMENTS FOR THE QUARTER ENDED SEPTEMBER 30, <br />2019 <br />5 <br />