Finance Committee Agenda and Packet 2020 05 19

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City Council Finance Committee Meeting Minutes 04/21/20 Page 3 of 8 Committee Members discussed if any changes to the general processes are necessary. Members discussed potential increases to staff workload to manage past due accounts or resulting from changing compliance process. Finance Committee Member Lipton stated his interest in making sure businesses survive and prosper, but would like to see another month’s worth of information. The Finance Committee informed staff to proceed with assessments for the February filing period, but requested to revisit the matter for future month’s filings. Committee agreed to look at numbers again for March and April. Finance Committee Chairperson Maloney proposed the potential for a special meeting to discuss any action desired to change current compliance policies and procedures, and any subsequent action that may require amendments to the Louisville Municipal Code. The reports and corresponding narrative can be located in the packet of the April 21, 2020 Finance Committee Meeting. “CARRY FORWARD” BUDGET AMENDMENT AND 2020 C-I-P Finance Director Kevin Watson presented a consolidated worksheet of the final department requests to carry forward unspent budget of $17.2M from 2019 to 2020. Director Watson stated the second worksheet provided in the packet combines the carry forward amount with the current 2020 Capital Improvements Plan. Director Watson stated that if all the carry forward requests are approved, the total capital budget for 2020 would be $35.2M. Director Watson added that there are $1.1M of new requests, and that in advance of taking the budget amendment packet to City Council for approval, staff justifications for each amendment would be added. City Manager Heather Balser stated that staff is working to prioritize 2020 projects, with emphasis on maintenance and repair items, and core infrastructure needs. Finance Committee Member Lipton stated that he was shocked by the amount of carry forward from 2019. Member Lipton stated he is unable to understand why the City is unable to spend the budgeted money, and these large carry forwards happen every year. Member Lipton stated that project completion and spending are just not happening. Committee Member Lipton suggested that 2020 may be the year to spend significant time going through the C-I-P list line by line, reviewing how individual CIP requests are prepared, and how they are budgeted. This process may also lead a discussion with City Council on the expectations of Council to have all the projects completed. 4