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<br />City Council Finance Committee <br />Meeting Minutes <br />2/20/07 <br />Page 2 of 4 <br /> <br />is purchased, the remaining cash balance will be approximately $338,811. It was <br />recommended that these remaining funds be transferred to the General Fund <br />and reserved for library operations over a period of three years. The Finance <br />Director will make this formal request sometime in March with other supplemental <br />appropriations requests for 2007. <br /> <br />The preliminary sales tax results for the month ending December 31,2006 were <br />presented to the Finance Committee. The December sales tax collections were <br />$897,509 for the month. The total collections for the year ended up at <br />$9,227,990 which was ($648,897) short of budget for 2007. The narrative and <br />the actual sales tax reports themselves can be found on the City's website at <br />www.ci.louisville.co.us. <br /> <br />The Finance Director initiated a discussion of repealing the Senior Property Tax <br />Rebate program at the City in lieu of the states reinstatement of the Homestead <br />program. The Finance Committee directed staff to move forward on this issue. <br />The Finance Director will work with the City Attorney to draft an ordinance for <br />review at the next Finance Committee meeting. <br /> <br />The National League of Cities membership was discussed. The annual fees are <br />$1,790 for a one year membership. A brochure was included. The Finance <br />Committee supported the annual membership for the City of Louisville in 2007. <br /> <br />The additional funding for a new website design of the Colorado Wireless <br />Communities was discussed. It was recommended by the Finance Committee <br />that the funding request be paid out of the Business Retention budget. This will <br />be further discussed that the City Council meeting on February 6th. <br /> <br />There were a couple of outstanding questions regarding the list of bills. <br /> <br />Question: Why is the City occasionally using Pay Pal to purchase supplies or <br />services and is it secure? <br /> <br />Answer: There are documented problems and class action suits against Pay <br />Pal. The Finance Department makes payments subscriptions to Pay Pal who <br />was recently purchased by Verisign to process the credit card payments that we <br />accept for utility payments. The Police Department recently used Pay Pal to <br />purchase an item that the vendor required payment through Pay Pal. Due to the <br />documented problems and class actions suits against the Pay Pal service, the <br />Finance Director has asked City staff not to use this service and has blocked <br />access to its website. Also, the Finance Staff will research further alternative <br />options with the credit card payments for Utility Billing. <br /> <br />Question: What was the Colonial Insurance payment of $239.21 for? <br /> <br />PDF created with pdfFactory trial version www.pdffactory.com <br />