Finance Committee Agenda and Packet 2021 04 19

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City Council Finance Committee Meeting Minutes 03/15/21 Page 2 of 3 APPROVAL OF THE MINUTES FROM THE FEBRUARY 15, 2021 MEETING The Finance Committee approved the February 15, 2021 minutes as presented. DISPOSABLE BAG TAX IMPLEMENTATION & PROGRAMMING Katie Baum, Sustainability Coordinator, presented an update on the Disposable Bag Tax implementation. Katie summarized the 25 cents/bag tax that will go into effect on January 1, 2022. Revenue projections are based on the level of behavior change. The higher the behavior change, the less revenue will be generated for the City. First year (2021) implementation costs are estimated to be $50,000. Ongoing annual costs are projected at approximately $70,000. Staff has evaluated program options for excess revenue. Programs are geared towards growing waste awareness, investments and partnerships as the City continues to strive for zero waste and reducing single -use plastics within the community. Committee members discussed the State Legislator Bill (HB21-1162), which may ban plastic bags, the proposed programming of excess revenue, the 2021 budget amendment, and the projected annual ongoing program expenses. The Committee recommended a conservative approach to budgeting revenue and expenditures and, therefore, recommended assuming a high behavior change (Scenario C). The reports and corresponding narrative can be located in the packet of the March 15, 2021 Finance Committee Meeting. BUDGET CALENDAR Kevin Watson, Finance Director, presented a preliminary process calendar for the 2022 budget development process. Since staff already has a 2022 budget to start with, this "off-year" budget calendar is less comprehensive than last year's biennial budget calendar and process. The reports and corresponding narrative can be located in the packet of the March 15, 2021 Finance Committee Meeting. STAFF REPORTS/UPDATES/DISCUSSIONS 2021 Work Plan t: 7