Finance Committee Agenda and Packet 2023 11 16

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Ci�yi;',ille ITEM #1 Lou COLORADO -SINCE 1878 City Council Finance Committee 9:00 AM I Thursday, October 19, 2023 Virtual Meeting via Zoom Regular Meeting Call to Order — Councilmember Dickinson called the meeting to order at 9:03 AM and took roll call. Committee Members Present: Yes Councilmember Dickinson Yes Councilmember Hamlington Yes Councilmember Hoefner Staff Present: Jeff Durbin, City Manager Samma Fox, Deputy City Manager Ryder Bailey, Director of Finance Ligea Ferraro, Executive Administrator Kim Baker, Accounting Manager Meredyth Muth, City Clerk Mahyar Mansurbadi, Tax Auditor Julie Glaser, Senior Accountant Travis Anderson, Revenue & Sales Tax Manager Others Present: Mayor Pro Tern Fahey Approval of Agenda: Councilmember Hamlington made a motion to approve the agenda, seconded by Councilmember Dickinson. Agenda was Approved. Approval of August 17, 2023 Meeting Minutes: Councilmember Hamlington made a motion to approve the minutes, Councilmember Dickinson seconded. Minutes were Approved. Public Comments on Items Not on the Agenda: None. Tax Revenue Reports: The Sales Tax Auditor presented the Tax Revenue Reports for the month of August to the committee. The report was included in the meeting packet. Questions from the Committee: There was a discussion around the reports and ensuring that the type of reports presented are useful for the committee. One part of the discussion included implementing a rolling 12-month forecast to be able to see the last 6 months and next six months at any time in the fiscal year. Councilmember Hamlington asked if there's ever been a time when we bring in committees like LRC so that decisions they make regarding funds and effort is informed by this information. The Tax Auditor Finance Department 749 Main Street Louisville CO 80027 303.335.4500 (phone) 303.335.4513 (fax) LouisvilleCO.gov 3