Finance Committee Agenda and Packet 2019 08 16

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City Council Finance Committee Meeting Minutes 07/19/19 Page 4 of 6 the decline in Recreation Center swim lesson projections and the increase in construction permit projections but decrease for water tap fees. Chairperson Maloney asked the reason for lower projections for property taxes. Director Watson stated this is due to the Library Bonds being retired and the associated reduction in the mil levy. The reports and corresponding narrative can be located in the packet of the July 19, 2019 Finance Committee Meeting. CAPITAL IMPROVEMENT PROGRAM REPORT FOR THE QUARTER ENDED JUNE 30, 2019 Accounting Manager Cara Golden presented the quarterly report to the Finance Committee. Finance Committee Members discussed the report format and information provided. Chairperson Maloney stated that he wants the report to be actionable. Mayor Muckle agreed stating that there needs to be an indication as to whether work isn't being completed because of budget, capacity, or for other reasons. Member Lipton stated that KPI's need to be established related to the City's construction work, and perhaps the consultant hired will have suggestions. Member Lipton also suggested adding a percent complete column. Public Works Director Kurt Kowar suggested using 0%, 25%, 50%, 75%, and 100% to make it manageable for Directors. Finance Committee Member Lipton stated that he is interested in seeing the variances from budget to the actual project completion costs. Mayor Muckle stated that it seems premature to be reviewing the information as there are many months left for projects to be completed. He suggested revisiting the report in September or October. Finance Committee Members agreed that the "estimate" column of the report, which information is provided by Managers and Directors, needs to be refined. The reports and corresponding narrative can be located in the packet of the July 19, 2019 Finance Committee Meeting. FINANCIAL STATEMENTS FOR THE QUARTER ENDED JUNE 30, 2019 Finance Director Kevin Watson presented the financial statements to the Finance Committee. Director Watson stated that the 2018 Actual column now reflects the audited actuals and the June 4 budget amendment approved by City Council. 5