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City Council Finance Committee <br />Meeting Minutes <br />07/19/21 <br />Page 3 of 4 <br />projections were based on forecasts made by the departments that assess and/or <br />collect the revenue. <br />The dashboards and corresponding narrative can be located in the packet of the <br />July 19, 2021 Finance Committee Meeting. <br />STAFF REPORTS/UPDATES/DISCUSSIONS <br />Update on State's Sales & Use Tax System <br />Kevin Watson, Finance Director, Tax Manager, updated the Committee on staff's <br />ongoing efforts to review and implement the State's Sales & Use Tax System <br />(SUTS). Director Watson presented an agreement between the City and the State <br />that will be submitted to the entire Council for approval at the regular meeting <br />scheduled for July 27, 2021. <br />The documents and corresponding narrative can be located in the packet of the <br />July 19, 2021 Finance Committee Meeting. <br />EOG: Capital Planning & Debt <br />Kevin Watson, Finance Director, informed the Committee that the Government <br />Finance Officers Association (GFOA) recently published an Elected Officials Guide <br />(EOG) titled, Managing Your Community's Assets: Capital Planning & Debt. A <br />paper copy of the publication was put in each Committee member's mail box. <br />f���Y�i \4►[Ti 7 MM <br />The Committee reviewed the City's current 2021 Work Plan. <br />The latest Work Plan can be located in the packet of the July 19, 2021 Finance <br />Committee Meeting. <br />DISCUSSION ITEMS FOR THE NEXT REGULAR MEETING <br />The next regular Finance Committee Meeting is scheduled for Monday, August 23, <br />2021. <br />Items tentatively scheduled for the next meeting include: <br />• Quarterly Reports/Dashboards. <br />• KPI Presentation <br />• Revenue Projection Dashboard. <br />• Discussion of Reserve Policies. <br />• Follow -Up from the Budget Retreat and Discussion of the 2022 Proposed <br />Budget. <br />5 <br />