Finance Committee Agenda and Packet 2010 07 19

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BOULDER BLUE RIBBON COMMISSION — PHASE II REPORT City Council Finance Committee Meeting Minutes 05/17/2010 Page 2 of 4 The Finance Director presented to the Finance Committee the phase 11 report created by the Boulder Blue Ribbon Commission. The Commission was designed to analyze and make recommendations for change on such issues as budgeting, costing of programs and services, performance measurement and financial and management policies. This template was reviewed and discussed by the Finance Committee members. The consensus among members was that the City of Louisville is already incorporating many of the Blue Ribbon Commission's recommendations and philosophies but on a scale appropriate to Louisville. The Committee remarked that there are substantial costs and staff resources required to fully implement such widespread changes but that it would continue to monitor the successes and failures encountered by Boulder and that if circumstances warranted they could revisit the procedures, programs and policies recommended and successfully implemented. A copy of the report can be located on the City's website at www.louisvilleco.gov. SALES TAX REPORT FOR THE PERIOD ENDED MARCH 31, 2010 The Tax Manager presented the March 31, 2010 Sales Tax Report including the quarterly reporting. The report and the corresponding narrative can be located on the City's website at www.louisvilleco.Qov. REVENUE TREND DASHBOARD — MAY 14, 2010 PROJECTIONS The Finance Director presented the revenue trend dashboard and May 14, 2010 projections to the Finance Committee. The report and corresponding narrative can be located on the City's website at www.louisvilleco.Qov. FINANCIAL STATEMENTS FOR THE PERIOD ENDING APRIL 30, 2010 The Accounting Manager presented Financial Statements for the period ending April 30, 2010. The Finance Committee, Accounting Manager and Finance Director discussed the lower than expected revenues for the Utility Funds and Mayor Sisk requested 3