Finance Committee Agenda and Packet 2024 08 15

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City Council Finance Committee Meeting Minutes July 18, 2024 Page 3 of 5 knowing that citizens expect high levels of service. She would like to discuss how to keep the teams fully staffed and how that connects to turnback. Councilmember Hoefner commented that he didn't recall turnback being discussed in depth last year. He asked to revisit how the 10% turnback was arrived at to understand the history of that amount. He would also like to discuss best practices for turnback. On the wastewater rate, he commented that with an increase of 50% this year and a reduced rate the following year, the net increase appears to be about 16% over two years, though he understands that the lower rate will be incurred against a larger base number. Councilmember Hoefner asked if there is a way to dip into the capital balance of the water fund and keep the increase of 12% for two years, paying the capital balance back to provide cross subsidization and avoid a 50% increase. The Director of Public Works commented that the city is considering additional subsidized loans and there might be a way to reschedule a recently begun project so that it could be partially delayed. The Director of Public Works will work with the Director of Finance to determine if the suggestion of using the water fund to subsidize the wastewater fund is allowable under the financial rules. Public Comments: None. Enterprise Dashboard Updates: The Director of Parks, Recreation, and Open Space and the Head Golf Professional presented updates on the Golf Course and Recreation Center revenues. The Head Golf Professional noted that the Coal Creek Golf Course has received recognition for becoming a leader in junior golf and was also named the top golf course in Colorado this year. Committee Comments: Councilmember Hamlington asked to receive more details on the Coal Creek Grill and what the future plans are for it at the next update. Councilmember Kern agreed with Councilmember Hamlington on details on the Coal Creek Grill. She also expressed concern about the state of the greens and would like to know if golfers would rather have blended improvements with clubhouse and greens or if the greens should take precedence. The Head Golf Pro responded that the golf course already charges top rates relative to the competition so if conditions deteriorate or become more expensive to maintain, it wouldn't make sense to have a new clubhouse. He suggested that the city should focus on having a product to sell in the services before renovating the clubhouse. Councilmember Hoefner requested the dashboards be sent to the committee since they weren't included in the packet. Public Comments: None 2024 Q2 Chandler Investment Report: The 2024 Q2 Chandler Investment Report was included in the meeting packet. Councilmember Hoefner requested no comments for this item in order to continue to item 7 on the agenda. 5