Finance Committee Agenda and Packet 2015 07 20

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City Council Finance Committee Meeting Minutes 05/18/15 Page 3 of 4 administer such a program, and the costs that would need to be expended to formalize such an agreement. A draft of the proposed policy, procedure and corresponding narrative can be located in the packet of the May 18, 2015 Finance Committee Meeting. FINANCIAL STATEMENTS FOR THE PERIOD ENDING APRIL 30, 2015 Graham Clark, Senior Accountant, presented to the Committee the financial statements for the months ending April 30, 2015. The reports and the corresponding narrative can be located in the packet of the May 18, 2015 Finance Committee Meeting. SALES TAX REPORTS FOR THE MONTH ENDED MARCH 31, 2015 Tax Manager Bolte presented the monthly sales tax reports for the period ended March 31, 2015. The Finance Committee requested to receive an update on the status of the Xcel and Comcast audits at the July 20, 2015 regular meeting. The reports and the corresponding narrative can be located in the packet of the May 18, 2015 Finance Committee Meeting. DISCUSSION — VACATION RENTALS BY OWNER The Finance Committee and staff discussed the issue of Louisville residents participating in vacation rentals by owner trend. The Finance Committee members stated that there are zoning, licensing, tax and public safety issues that should be discussed, and that policies may need to be implemented along with ordinance provisions. City Manager Fleming stated that this is a hot topic circulating amongst City Managers. The Finance Committee members requested staff to research what other front - range sister cities were doing regarding this issue and to report back to the Committee at the next regular meeting to be held July 20, 2015. CASH & INVESTMENTS AT APRIL 30, 2015 The Finance Director reviewed the status of the City's assets with the Committee and stated that the reports now will include a monthly transaction ledger.