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City Council Finance Committee <br />Meeting Minutes <br />08/16/19 <br />Page 6 of 7 <br />Director Watson stated that City department staff is currently working to provide <br />him new estimates for the revenue categories highlighted in orange to coincide <br />with the budget process. <br />Director Watson also asked for Finance Committee feedback regarding the 2% <br />projection estimated for sales tax in 2019, and 1.5% each year for 2020 and 2021, <br />which has been built-in to the Long -Term Financial Plan. <br />Finance Committee Members discussed the issue along with the Q2 sales tax <br />reports and stated they felt comfortable with the 2% sales tax projection for 2019, <br />and 1.5% for 2020 and 2021. <br />The reports and corresponding narrative can be located in the packet of the August <br />16, 2019 Finance Committee Meeting. <br />FINANCIAL POLICIES <br />Finance Director Kevin Watson presented the Financial Policies to the Finance <br />Committee. Director Watson stated that once approved by the Finance <br />Committee, staff will prepare a Resolution to formally adopt the amendments. <br />Finance Committee Members discussed whether the Resolution should be <br />presented in November with the budget and after the election. Mayor Muckle <br />stated delaying until November would allow for ongoing discussions regarding a <br />separate fund for Repair and Replacement for the Golf Course and <br />Recreation/Senior Center. Chairperson Maloney agreed but stated he was okay <br />with the current amendments. <br />Finance Committee Members stated the Resolution can be placed on the consent <br />agenda. <br />The reports and corresponding narrative can be located in the packet of the August <br />16, 2019 Finance Committee Meeting. <br />STAFF REPORTS/UPDATES/DISCUSSIONS <br />Work Plan <br />The Finance Committee and staff reviewed the Work Plan. <br />The Business Assistance Program Discussion scheduled for September was <br />removed. The Recreation/Senior Center and Utility Dashboards were added for <br />the September meeting. <br />The Committee confirmed with staff that the updated CIP report would be <br />presented at the October meeting. <br />7 <br />