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City Council Finance Committee <br />Meeting Minutes <br />06/23/20 <br />Page 8 of 9 <br />Finance Committee Member Lipton stated that these are unique times and that the <br />City needs to be dynamic in updating the assumptions. Member Lipton stated <br />additional months of revenue trends and sales tax data are needed. <br />Chairperson Maloney stated he believes additional information will be available for <br />July, but that he is also concerned that recovery could take two or more years. <br />Member Maloney stated that no one knows if or when a COVID resurgence may <br />occur but that the City's reserves will have to cover whatever events come. <br />Chairperson Maloney stated that while the Citizen Survey rating of the Recreation <br />Center was very high, current surveys indicates smaller percentages are ready to <br />return. <br />Finance Committee Members and staff agreed there are many unknowns making <br />this budget cycle challenging. <br />The reports and corresponding narrative can be located in the packet of the June <br />23, 2020 Finance Committee Meeting. <br />6'1/_1a0: 4101:4&1111J:jm7_A9x*fjQ6Y11i11*1107►6y <br />2020 Work Plan Update <br />The Finance Committee reviewed the 3rd Quarter Work Plan items and requested <br />the Biennial Budget Process and Previous Year KPI Review items be removed, as <br />these items will be covered during the budget retreat July 23. <br />Finance Committee Members also stated that the Tap Fee Review could be <br />removed from the Work Plan unless there is a material change. Director Kowar <br />stated he would review his data and if there are no material changes, present the <br />tap fee information at the July 29 Utility Committee meeting. <br />The Finance Committee requested the May Sales Tax Reports be added to the <br />July agenda for discussion, and also to receive these reports by email as soon as <br />they are available in early July. <br />Budget Process Information — Non -Profit Grant Program <br />Finance Director Kevin Watson presented to the Finance Committee copies of the <br />Non -Profit Grant Application to be distributed as part of the biennial budget <br />process, and asked the Committee if there were other non-profit entities they would <br />like the application provided to. <br />Council Member Fahey requested to receive a report providing a history of the <br />grant applicants and the amount of each grant approved. Director Watson stated <br />the report would be provided via email. <br />10 <br />