Finance Committee Agenda and Packet 2022 06 13

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City Council Finance Committee Meeting Minutes 05/09/22 Page 2 of 4 PUBLIC COMMENTS ON ITEMS NOT ON THE AGENDA Tanya Samauroo and Tim Crean both requested the City rebate all building use taxes for the rebuilding of residences lost in the Marshall Fire. PRESENTATION FROM CHANDLER ASSET MANAGEMENT, CITY INVESTMENT ADVISOR Julie Hughes, from Chandler Asset Management, presented an economic update and reviewed the investment profile. The April 30 report from Chandler Asset Management and the corresponding narrative can be located in the packet of the May 9, 2022 Finance Committee Meeting. ENTERPRISE DASHBOARDS David Baril, Head Golf Professional, presented and discussed the first quarter Golf Course Dashboard. Kathy Martin, Acting Director of Recreation and Golf, presented the first quarter Recreation and Senior Center Dashboard, and Kurt Kowar, Public Works Director, and Cory Peterson, Deputy Director of Utilities, presented the first quarter Water, Wastewater, and Storm Water Dashboards. The first quarter dashboards and the corresponding narrative can be located in the packet of the May 9, 2022 Finance Committee Meeting. SALES TAX REPORTS FOR THE MONTH AND QUARTER ENDED MARCH 31, 2022 Jeanette Longoria, Tax Manager, presented the first quarter sales tax reports. The reports and corresponding narrative can be located in the packet of the May 9, 2022 Finance Committee Meeting. RENEWAL & REPLACEMENT RESERVE CALCULATION FOR RECREATION FUND Kevin Watson, Finance Director, presented an updated renewal and replacement reserve calculation for the Recreation Fund. In compliance with Section 2.5 of the City's Financial Policies, the Finance Committee has developed a calculation methodology. Kathy Martin, Acting Director of Recreation and Golf, updated the equipment listing and useful lives. Using this new information, and the methodology developed by the Finance Committee, the targeted renewal and replacement reserves were calculated, as follows: 3