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City Council Finance Committee <br />Meeting Minutes <br />06/15/09 <br />Page 2 of 3 <br />SALES TAX REPORT FOR THE PERIOD ENDED APRIL 30, 2009 <br />The Tax Manager presented the April 30, 2009 Sales Tax Report. The report <br />and the corresponding narrative can be located on the City's website at <br />www.louisvilleco.aov The Tax Manager also presented information on the City's <br />vendor fee and the State's decision to remove its vendor fee. The Committee <br />favored restricting this revenue to a specific purpose and requested that this <br />discussion continue at the budget retreat on June 23. The Committee also <br />requested an update on May sales tax on June 23. The Committee requested <br />that the Economic Development Director contact the City's hotels. <br />REVENUE TREND DASHBOARD <br />The Finance Director presented current trend analysis and projections for various <br />revenue sources summarized in a revenue trend "dashboard" report. This report <br />can be located on the City's website at www.louisvilleco.gov <br />FINANCIAL STATEMENTS FOR THE PERIOD ENDING MAY 31, 2009 <br />The Accounting Manager presented the Financial Statements for the period <br />ending May 31, 2009. The statements and corresponding narrative can be <br />located on the City's website at www.louisvilleco.gov The Accounting Manager <br />also noted that there will be an additional $600,000 liability booked in 2008 for <br />the Northwest Parkway Fund due to litigation settlement. The Committee also <br />discussed the financial projections of the Golf Course Fund. <br />SCHEDULE OF CASH INVESTMENTS AS OF MAY 31, 2009 <br />The Finance Director presented the Schedule of Cash Investments as of May <br />31, 2009. The schedule and corresponding narrative can be located on the <br />City's website at www.louisvilleco.gov <br />LIST OF BILLS <br />The Committee reviewed the List of Bills scheduled for approval at the June 16, <br />2009 Council Meeting. The list can be located on the City's website at <br />www.louisvilleco.aov The Committee requested information on the invoices <br />from Premier Paving. The Committee also discussed the custodial contract and <br />the status of the City Hall remodel project. <br />3 <br />