Finance Committee Agenda and Packet 2023 01 23

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The committee discussed the collection of taxes on internet purchases and related budget impacts. Capital Improvements Plan Report for the Quarter Ended September 30, 2022 Cash and Investment Report for Quarter Ended September 30, 2022: Director Runkle reported on the Capital Improvements Plan and noted that projects are generally staying on task. The committee discussed the report and project spending statuses. Councilmember Leh asked where the money to repair the Davidson Mesa dog park came from which was damaged by the fire. Deputy City Manager responded that all parks and open space fencing projects were bundled into one project and submitted to FEMA and we're hoping for reimbursement for that entire project. We're getting good feedback from FEMA that we're meeting their criteria but it will take time. Mayor Pro -Tern Maloney expressed appreciation for this report and thanked staff for providing it to the committee. He also mentioned that the notes are very helpful with providing context and project status. He mentioned that it would be helpful at the end of the year to review rollover funds, identifying which projects will have rollover funds and how much is for projects that are ending. There was a discussion around a potential issue of the tax-exempt clause being left out of some construction contracts. The Tax Manager is working with the attorney to review affected contracts and make revisions. The Finance Committee will be notified of any action required. Non -Profit Funding Requests for 2023 Funding — Staff Recommendations: The Deputy City Manager provided an overview of non-profit grant requests and funding. The requests presented total $40k in funding, which is a slight increase over past years. Staff recommended an increase to the Sister Carmen Community Center grant as they have been a primary basic needs provider throughout the COVID pandemic and also provided a lot of assistance to Marshall Fire victims that wasn't available through other channels. Mayor Pro-Tem Maloney asked for data on the actual usage of the utility assistance program and whether it has changed over the last year. The Finance Director will provide this data to the committee and noted that there is no City funding remaining for this program this year. The committee may consider augmenting this program if the next year is a difficult year. There was a discussion about the grant requests and program funding. Councilmembers Brown and Leh support a grant to Boulder Valley Women's Center at $5k and funding staff recommendations. Councilmember Leh also proposed fully funding Clinica with an extra $500. These proposals increase the grant budget to $45,500. Councilmember Leh also suggested the committee might consider discussing with council an increase in funding in the coming year. Mayor Pro-Tem Maloney called for a vote on the proposal of $45,500. The proposal passed unanimously.