Finance Committee Agenda and Packet 2022 09 19 - Cancelled

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City Council Finance Committee Meeting Minutes 08/22/22 Page 5 of 6 $32,000 in Justice Grants to pay back the insurance. Watson stated he would check into it. Councilmember Leh asked for clarification on the Water Utility Report (page 88 of report) regarding the 7.3 million estimate and sale of water rights. This figure does not include the Insurance proceeds estimate from the fire. Further, there were anticipated sales from purchasing water rights which did not go through. Kowar stated that the City is still expecting the sale to happen. 12. CASH & INVESTMENT REPORT FOR THE QUARTER ENDED JUNE 30,2022 (page 93) Watson stated that the Chandler Investment Report is included in the packet and that the City has maintained liquidity, however he anticipates payments to PPDR/Disposal of debris from the fire. Watson stated that they will be reducing liquidity and invest more as securities mature due to higher interest rates. 13. STAFF REPORTS/UPDATES Many questions were posed regarding the new bag tax and its process by councilmembers throughout the meeting. For example, Walgreen's employees told customers they didn't have to pay the bag tax because they were a Superior store. Watson stated that they contacted Walgreen's to train their employees and that they did have to pay the bag tax because they were physically located in Louisville. Kayla Betzold, Sustainability Coordinator, reported that during the second quarter, they completed their outreach to businesses and that the businesses were about 57% in compliance. Some businesses submitted paperwork for opting out to not have any plastic bags. Longoria stated that total revenue for bags is at $90,000 to date. The original budget was $101,000. Revenue is twice as much from the tax at this time. Director Watson went over the 2022 Finance Committee Work Plan included in this packet. 0