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City Council Finance Committee <br />Meeting Minutes <br />08/18/20 <br />Page 4 of 6 <br />worked on that will be completed in 2020, but that some projects will not be done <br />this year. <br />Finance Committee Chairperson Maloney stated that the report was very <br />comprehensive and answers well all the Committee's questions. <br />The reports and corresponding narrative can be located in the packet of the August <br />18, 2020 Finance Committee Meeting. <br />CASH & INVESTMENTS REPORT FOR THE QUARTER ENDED JUNE 30, 2020 <br />Finance Director Kevin Watson presented to the Finance Committee the cash and <br />investment reports prepared by Chandler Asset Management, the City's <br />Investment Advisor. <br />Director Watson stated he had met with Scott Prickett and Julie Hughes that <br />morning to discuss various economic issues and trends. Director Watson noted <br />that things are changing rapidly, and asked the Finance Committee if they would <br />like to meet with Chandler again before the end of the year to receive an update <br />on the latest economic information. <br />The Finance Committee Members asked how they should be interpreting and <br />using the information provided to make budget decisions. Director Watson stated <br />the report is intended to provide full disclosure, as these documents are posted on <br />the City's website and available to the public. <br />The Committee stated it would be beneficial to meet with Chandler as part of the <br />budget process scheduled to begin mid -September. Director Watson stated he <br />would see if the Chandler representatives could be available for the September <br />Finance Committee meeting. <br />The reports and corresponding narrative can be located in the packet of the August <br />18, 2020 Finance Committee Meeting. <br />a:Z6aJx411[6]kil�7_Fya�7_1:7�Z+'� <br />Director Watson presented the dashboards and stated that the revenue projections <br />in orange are provided by the various departments and remain unchanged. <br />Director Watson also stated that the 2020 budget column reflects the amended <br />budget numbers, and that as information becomes available, the projections will <br />continue to be modified. <br />Finance Director Kevin Watson reviewed the (6) possible projection changes made <br />based on current revenue trends, and asked the Committee if they agreed with the <br />5 <br />