Finance Committee Agenda and Packet 2024 02 22

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City Council Finance Committee Meeting Minutes January 18, 2024 Page 3 of 3 Committee Comments: Councilmember Hamlington asked about the general fund transfer in the different scenarios and noted that the council will need to consider all the other plans and studies in this year's Council Work Plan. Some of those plans could allow different zoning with smaller lots, creating a greater need for park spaces for these residents. Councilmember Hamlington stressed concern that we need an acquisition plan to help determine the general fund transfer decision. Councilmember Kern asked for more detail on how park expenses break down, CIP costs, and funding for open space acquisition. For example, identifying fixed costs in order to figure out where any flexibility in spending exists. Public Comments: Members of the public as part of the advocacy group for the 2C ballot measure commented that they are interested in participating in the budget discussions for open space and what the city can do to set priorities to use this money. They have sent a list of questions to staff and will be reviewing the information provided at today's meeting and asked for a copy of the slides or access to the meeting recording to share with the community. It was suggested that there are scenarios that need to be considered what to do with the funds in the joint fund and how to divide it. They would like information on what the reserve policy will be, most especially for acquisition as well as wildfire mitigation. They also request that the General Fund also continues to contribute to the open space fund. There was another question about land acquisition and noted that having a policy to be able to acquire parcels as they become available is important to the open space system and a request for more information on this in future presentations. Revenue, Sales, and Bag Tax Reports: Deferred to the next meeting. Adopted Finance Committee 2024 Work Plan: Deferred to the next meeting. Finance Director Updates: The Finance Director had no additional updates. Questions from the Committee: None. Items for the Next Regular Meeting, scheduled for February 22, 2024, 4:00-6:00 PM: • 2023 Year End Revenue and Sales Tax Reports • Open Space & Parks Sales and Use Tax Update • Write-off of Accounts Receivables • Review of Land Use Development Fiscal Model Items were approved for the next regular meeting. Councilmember Hamlington motioned to adjourn the meeting. Councilmember Kern seconded. Adjourn: The meeting adjourned at 6:01 PM 5/132