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City Council Finance Committee <br />Meeting Minutes <br />October 17, 2024 <br />Page 4of4 <br />Committee Comments: <br />Councilmember Hoefner asked how the committee should consider the sales tax number in comparison to <br />all tax revenues; specifically, whether sales tax revenue is more relevant than the other revenue categories. <br />The Director of Finance responded that sales tax is the life blood of the city's revenue because revenue <br />relies much more heavily on sales tax than the other tax revenues. He reviewed the other tax categories <br />and their revenues with the committee in comparison to the amount of tax revenue. <br />Public Comments: None. <br />Finance Director Updates: <br />There will be a presentation on 11/4 for the 2025 city-wide budget. <br />Closing Ouestions/Comments from the Committee: <br />Councilmember Hoefner asked staff to provide preliminary thoughts on policy -type topics in addition to the <br />day-to-day operational work of the committee for inclusion in the Work Plan discussion. <br />Items for the Next Regular Meeting, scheduled for November 21, 2024, 4:00-6:00 PM: <br />• 2025 Citywide Fees <br />• Final 2024 Budget Amendment <br />• Preliminary 2025 Work Program Discussion <br />• Quarterly Financial Reports <br />• Quarterly CIP Reports <br />• Q3 Revenues, Sales and Bag Tax Reports <br />Adjourn: The meeting adjourned at 5:08 PM <br />