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City Council Finance Committee <br />Meeting Minutes <br />May 16, 2024 <br />Page 3 of 3 <br />Finance Director Updates: <br />The Finance Director provided the following updates: <br />1. An update on a consent item going before council for an administrative write-off older than 3 years <br />to clean up the AR records. The company has gone out of business, so this amount is uncollectable <br />and is above the amount the Finance Director is able to write off without Council approval. <br />a. Councilmember Hamlington asked if the $100 limit should be increased for write offs. <br />i. The Committee suggested the Director of Finance could bring a better write-off limit <br />amount to the committee for future consideration. <br />2. A brief budget update to review the budget calendar and the work staff is doing in preparation for <br />the upcoming budget retreat, including: <br />a. CIP Requests, <br />b. Staff Requests, <br />c. Operating Budget Requests, and <br />d. Revenue Projections. <br />Closing Questions/Comments from the Committee: None. <br />Items for the Next Regular Meeting, scheduled for June 20, 2024, 4:00-6:00 PM: <br />• Rec Center Renewal & Replacement Calculation <br />• Monthly Revenue & Sales Tax Report <br />• Review of 2025/26 Non -Profit Grants Application Criteria <br />Items were approved for the next regular meeting. <br />Councilmember Hamlington motioned to adjourn the meeting. Councilmember Kern seconded. <br />Adjourn: The meeting adjourned at 4:56 PM <br />5/46 <br />