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HomeMy WebLinkAboutMinutes - Finance Committee - 06/15/2009 -C.Finance Administrationy0215N.Mason2MFloorortCoLLins970.221.678e ~970 221 6782 4ax Council Finance Committee Minutes 06/15/09 10:30 a.m.12:00 p.m. Council Attendees:Mayor Doug Hutchinson,Mayor Pro Tem KelLy OhLson,CounciLmember Ben ManveL City Staff Attendees:Dariri Atteberry,Mike Freeman,Chuck Seest,John Voss,Lawrence PoLlack,Kraig Ecton,Erin GilL Others:Rob Aldrich,President of MAVD,Bruce O’ConnelL, George K.Baum and Company,Gary White,Bear, White and Ankele,John Knezovich,resident ft Library District Board Member Approval of the Minutes from the May meeting. The May minutes were approved with revisions to the Budget Update numbers and the use of reserves in Building and Zoning and Transportation. Update on General Fund May Sales Tax Collections Chuck Seest,Finance Director,presented an overview of the May 2009 General Fund Sales Tax. .Sales tax will likely fall below 2008 &2007 amounts. •Staff will update the model quarterly as planned. •After 1st quarter update,Sales Tax originally appeared to be trending down 1-2%. •May data suggests greater decline possible;however,May 2008 was the highest month (in terms of percentage increase)for the last year. •Monthly Revenue ‘09 vs.‘08 declined [-9.7%]. •Staff will have the most updated revenue forecast before Council adopts the 2010-11 Budget in the fall. Council member Kelly Ohlson requested Finance staff include the original revenue projection and the updated quarterly projections with a date for each projection.For future General Fund Sales Tax presentations,Finance agreed to create a table with the original,1st revision and 2r~d revision projection,etc.including dates. $~LLins MAVDevelopment (MAVD)Metro District Rob Aldrich,President of MAVD,presented an introduction of the MAVDevelopment Company,Harmony Technology Park Overview,Proposed District Structure and the District Merits. •Harmony Technology Park is being built as a first class business technology campus for large and small business users. •Cohesive design and park amenities including pedestrian pathways with an outdoor plaza/seating area. •Harmony Technology Park proposed district structure includes both an Operating and Financing District. Following discussion focused on how this project fits with Fort Collins.The committee supported MAVD moving forward to bring this to Council while considering design and development that fits with Fort Collins. Expenditure Transparency Website Lawrence Pollack,Chuck Seest,Mike Freeman and John Voss presented information on the Expenditure Transparency Website.The Northern Colorado Spending Transparency Database provides searchable information to provide insight into City spending.Discussion items included: •Revising the official name of the project. •Participating Entities:City of Fort Collins,PFA,Poudre Library District,and DDA. •All expenditures except:personnel costs,info restricted by HIPPA,confidential info. •Selection Criteria by Service area,department,fund,expense type,vendor/payee,and data ranges. •Questions from the public will be treated as Service Area Requests. •Selling up a Frequently Asked Questions (FAQ)area on the website to assist the public. •Future steps include ongoing testing,communication with employees and issuing a press release shortly before the release date. Darin Atteberry stated he planned on bringing this project to the Coloradoan Editorial Board. Kelly Ohlson asked why personnel costs were not planned on being available on the website. GID Election Update Staff informed the Committee that an item will come to the Council on July 2?t,to call an election.This election wil allow voters within the GID to determine whether the General Improvement District can retain the property taxes collected which exceed the TABOR limit.