Finance Committee Agenda and Packet 2011 11 14

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City Council Finance Committee Meeting Minutes 10/17/2011 Page 2 of 3 had discussions with the City Attorney on the TABOR enterprise status of the Golf Course Fund. UPDATE ON CAPITAL PROJECTS APPROVED FOR 2011 The City Manager presented a schedule of CIP projects approved for 2011 which included comment on the current status of each. The Mayor requested that a condensed summary of the anticipated rollover be provided to the Committee. The schedule can be located in the packet of the October 17, 2011 Finance Committee Meeting. SALES TAX REPORTS FOR THE MONTH ENDED AUGUST 31, 2011 The Tax Manager presented the August 31, 2011 Sales Tax Reports. The reports and the corresponding narrative can be located in the packet of the October 17, 2011 Finance Committee Meeting. REVENUE TREND ANALYSIS – PROJECTIONS DATED OCTOBER 13, 2011 The Finance Director presented the 2011 Revenue Trend Analysis with projections dated October 13, 2011. The reports and the corresponding narrative can be located in the packet of the October 17, 2011 Finance Committee Meeting. The Finance Director stated that the projection for 2011 sales tax revenue has been increased from 0% to 1% and that Building Use Tax also continues to be increased. The projections for Court Fines and Lottery Proceeds have been decreased significantly. The projected total for all General Fund revenue indicates a 3.3% increase over budget. FINANCIAL STATEMENTS FOR THE PERIOD ENDED SEPTEMBER 30, 2011 The Accounting Manager presented the quarterly Financial Statements through September 30, 2011. The reports and the corresponding narrative can be located in the packet of the October 17, 2011 Finance Committee Meeting. 3