Finance Committee Agenda and Packet 2017 04 17

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City Council Finance Committee Meeting Minutes 03/20/17 Page 6 of 8 Director Watson stated that there is presently no reserve requirement for the Golf Course Fund, noting that a capital reserve fund policy is needed or an official designation incorporated within the budget process. Finance Committee Member Maloney stated that the use of a spreadsheet for CIP funding over time would be useful. City Manager Fleming agreed. Finance Committee Members and staff discussed preparing CIP and operations information by 2nd quarter in time for each upcoming budget cycle. Finance Committee Members reviewed the dashboard presented by Recreation Superintendent Kathy Martin. City Manager Fleming stated that he would like to see a table comparison of revenue and expenditures by current year compared to prior year activity. Member Stolzmann added the table should include each subprogram. Finance Committee Members discussed the breakdown of resident and non- resident visits. Superintendent Martin stated the 85%/15% split was very consistent and added that the increase in daily fees for non-residents has resulted in non-resident's increased purchase of passes. The reports and corresponding narrative can be located in the March 20, 2017 packet of the Finance Committee Meeting. WORK PLAN The Finance Committee Members continued their discussion of the committee's work plan for 2017, clarifying certain items. Finance Committee Chairperson Stolzmann asked Planning Director Zuccaro about the Fiscal Impact Model items identified for review during the 2nd quarter 2017, specifically the assumptions for the average cost model. Director Zuccaro stated that TischlerBise representatives would be in town April 18, 2017 to present the Impact Fee Study to City Council, and that perhaps a Special Finance Meeting could be scheduled on April 17 or 18 to answer the Finance Committee's questions. Director Zuccaro stated that he would like to obtain the Finance Committee's support and recommendation of the Model to City Council. Chairperson Stolzmann stated she would like to see the differences with the marginal cost model using different scenarios and the same for the average cost model. Finance Committee Dennis Maloney suggested using the McCaslin Small Area Plan for the examples. Members agreed. Director Watson asked if the old budget or new budget would be used in the models. Finance Committee Members agreed it probably wouldn't matter for their purposes, however they 7