Finance Committee Agenda and Packet 2022 10 17

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City Council Finance Committee Meeting Minutes 08/22/22 Page 4 of 6 the local taxing jurisdictions for a general business license. The City will no longer be able to collect license fees from outside -City retailers by 2023. Currently the City waived the outside -City sales and use tax which resulted in a $12,000 loss. Projected loss of revenue for 2023 is $65,500 or about 75% of the City's Sales and Use Tax licensing. Staff is proposing to continue the licenses for inside -City retailers. Finance asked for Council's advice on this matter and Councilmember Maloney stated that it is okay to require an inside -City licenses. The committee agreed with the staff proposal. Councilmember asked if this affects the Farmer's Market participants and fruit sales at S. Boulder and Hwy. 42 intersection. Longoria stated that they would continue to charge at the Farmer's Market. Director Watson stated the next steps would be to contact the City Attorney and let them know that we would continue to have sales tax licenses or business license within the City and it will come forward to Council with a full ordinance since this is a change to the Municipal Code. The Finance Committee agreed and gave the go ahead. 10. CAPITAL IMPROVEMENTS PLAN REPORT FOR THE QUARTER ENDED JUNE 30, 2022 (page 74) Director Watson stated that Kim Baker prepared the YTD actual spreadsheet for the committee. He stated that Parks and Open Space has only spent 22%. Overall total spent was 23%. A question was raised regarding water and only 27% of budget has been spent. Councilmember Leh asked if everything is getting done. He stated that there have been complaints of not getting these projects completed. Acting City Manager Davis stated we needed to emphasize what we realistically can accomplish after the fire. For example, the project at 104th will go forward, but we can't predict when. We will know by the 4th quarter. Councilmember Most (Ward II) added that most of the improvements at Coal Creek Elementary has been completed. She stated that the work was tremendous and therefore the crosswalks were less dangerous. She wanted to let the City know that the neighborhood was appreciative. 11. STATEMENTS OF REVENUE, EXPENDITURES, AND CHANGES TO FUND BALANCE / WORKING CAPITAL FOR THE QUARTER ENDED JUNE 30, 2022 (page 80) Director Watson gave a brief overview of the Statements and its amendments made after the budget retreat. He commented that the $1.5 million for the Marshall Fire funds in the General Fund that is highlighted will be partially distributed to all other funds. A question was posed when the City will receive the $1.2 million in FEMA funds and