Finance Committee Agenda and Packet 2020 12 15

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City Council Finance Committee Meeting Minutes 11/17/20 Page 3 of 4 Member Leh, Tax Auditor Ried stated that all businesses currently under payment plans are current with their payments. The reports and corresponding narrative can be located in the packet of the November 17, 2020 Finance Committee Meeting. NON-PROFIT FUNDING REQUESTS FOR 2021-2022 Kevin Watson, Finance Director presented the requests for funding from the City's Non -Profit Grant requests. The total requests amounted to $64,500 for 2021 and $65,250 for 2022. The proposed 2021-2022 Operating & Capital Budget includes $35,000 for this purpose for each year. Mayor Pro Tern Maloney facilitated discussion on the recommendation to the City Council for each applicant. For each applicant, the Committee recommended the 2020 grant amount for 2021 and 2022 with the following exceptions: • The amount for Boulder County Legal Services be increased from $600 to $1,000. • The amount for Clinica Family Health Services be increased from $5,400 to $7,000. • The amount for Imagine! be increased from $1,000 to $1,500. The reports and corresponding narrative can be located in the packet of the November 17, 2020 Finance Committee Meeting. CAPITAL PROJECT REPORT FOR THE QUARTER ENDED SEPTEMBER 30, 2020 Kevin Watson, Finance Director, presented a brief overview of the report. The reports and corresponding narrative can be located in the packet of the November 17, 2020 Finance Committee Meeting. CASH & INVESTMENT REPORT THE QUARTER ENDED SEPTEMBER 30, 2020 Kevin Watson, Finance Director, presented a brief overview of the report. Director Watson also summarized recent negotiations with First National Bank, the City's main depository, on service fees, the earnings credit allowance, and the compensating balance calculation for the next three years. The reports and corresponding narrative can be located in the packet of the November 17, 2020 Finance Committee Meeting.