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City Caurrcr"1 Finance Committee <br />f~e~ting Minutas <br />t a» ~~~7 <br />Page 2 cif <br />• The committee emphasized the need to make sure we are accounting #or <br />the Impact Revenue tc~ be used for years to come. Finance staff <br />explained the year-end reservations fund balance based on the different <br />revenues we collect. <br />• Finance staff explained that the significant increase in Fleet Management <br />Fund balance from last year was due to an interfund loan being paid back <br />from the bibrary Debt I`und. <br />• The Committee asked staff to evaluate the extent tc~ which capital projects <br />are not being ct~mpleted in the current year and prepare recommendations <br />as necessary to address any problems. <br />• The August Sales Tax Reports were also presented to the Committee and <br />discussed. The Committee requested to see options fcrr the sales tax <br />reports that would facilitate month-to-month and year-to-date <br />comparisons. <br />• The City Manager reviewed highlights of the 2Ct08 Proposed Budget. <br />ITEMS NOT ON THE AGENDA. <br />LIST OE BILLS <br />• The Committee commented on the number Sam`s Club memberships and <br />asked if staff could consolidate the number of cards for each department, <br />• The Committee asked about a payment to the Fire Protection District and <br />staff explained this is far fees collected at the Building Department and <br />remitted to the Fire Protection District per contractual agreement. <br />• The Committee commented on the Special Transit Trips for Labor Day. <br />The Mayor stated that Elle Cabbage is not renewing her contract with the <br />City and that staff shorald prepare a Request for Proposals and request the <br />Ms. Cabbage be on the review committee. <br />AGENDA ITEMS FOR THE NEXT MEETING <br />The meeting scheduled for November 5, 2007 has been canceled. The next <br />meeting of the Finance Cornrnittee will be held on November 19, 2007". <br />The current agenda for the next meeting is. <br />September Sales Tax Numbers <br />Qctober Financial Statements <br />AQJOURN <br />The meeting was adjourned at a:1 a pm. <br />