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City Council Finance Committee <br />Meeting Minutes <br />10/21/14 <br />Page 3 of 3 <br />The Tax Manager presented the monthly sales tax reports for the period ended <br />August 31, 2014. <br />Tax Manager, Penney Bolte informed the Finance Committee that the large 32% <br />sales tax increase for the month was due to audit revenue, tax payments for July <br />that were not received until August, and some large one -time technology <br />purchases. <br />The reports and the corresponding narrative can be located in the packet of the <br />October 21, 2014 Finance Committee Meeting. <br />REVENUE PROJECTION DASHBOARD <br />The Finance Director presented the revenue trend dashboards with projections <br />for all funds and for the General Fund. <br />Director Watson informed the Finance Committee that the projection for sales tax <br />was increased to 6% and the lodging tax estimates were increased to 15 %. <br />The reports and the corresponding narrative can be located in the packet of the <br />October 21, 2014 Finance Committee Meeting. <br />LIST OF BILLS <br />The Finance Committee had no questions on the bills. <br />A list of the bills scheduled for Council approval on October 21, 2014 can be <br />located in the packet of the October 21, 2014 Finance Committee Meeting. <br />DISCUSSION ITEMS FOR THE NEXT MEETING & MEETING SCHEDULE <br />The next Finance Committee Meeting is scheduled for November 17, 2014 at <br />7:30 a.m. Discussion items currently scheduled for a future meeting are: <br />• Financial Statements for the Period Ended October 31, 2014. <br />• Sales Tax Reports for the Period Ended September 30, 2014. <br />• Revenue Projection Dashboard <br />• Cash & Investment Report as of October 31, 2014. <br />• List of Bills <br />ADJOURN <br />The meeting was adjourned at 6:53 p.m. <br />4 <br />