Finance Committee Agenda and Packet 2020 06 23

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City Council Finance Committee Meeting Minutes 05/19/20 Page 6 of 7 Finance Committee Chairperson Malone asked Director Nathan Mosely if any significant or material changes had been made to the dollar amounts, or equipment lifetimes listed in the schedules. Director Mosely stated there were not. Finance Committee stated they would rely of the information provided, noting there may need to be adjustments to the replacement year for certain equipment depending on the length of recovery and reopening of facilities. The corresponding narrative can be located in the packet of the May 19, 2020 Finance Committee Meeting. STAFF REPORTS/UPDATES/DISCUSSIONS Continuation of Discussion on Procedures for Delinquent Accounts At the April Finance Committee Meeting, Committee Members requested a further discussion on delinquent sales tax accounts and the compliance process. Tax Manager Penney Bolte reviewed the status for February and March filings. Ms. Bolte provided the following details: • No guidance is being requested from the Committee at this time for delinquent February 2020 tax returns; all assessments issued in April have been satisfied, with the exception of two taxpayers, which are currently working with tax staff • (46) in -City businesses did not file March 2020 tax returns; (20) assessments, which included penalties and interest have been issued by tax staff; (7) taxpayers have already paid; the remaining assessments do not require further action until the third week of June • Some businesses may be closed; others have expressed process difficulties in obtaining data and initiating payment caused by working remotely • Some businesses have complained that penalties and interest are being assessed by the City Finance Committee Member Chris Leh stated the City is taking the right approach and needs be fair and equitable to all businesses. Member Leh stated staff needs to be sensitive to businesses during economic recovery. Finance Committee Chairperson Maloney requested updates continue to be provided under Staff Reports, and for the Finance Committee to continue looking at the compliance process to determine any desired action to change current compliance policies, procedures, or to propose amendments to the Louisville Municipal Code.