Finance Committee

AGENDA CITY OF CREVE COEUR FINANCE COMMITTEE 300 NORTH NEW BALLAS RD MAYORS CONFERENCE ROOM JULY 14, 2026 4:00 PM CALL TO ORDER ROLL CALL APPROVAL OF AGENDA APPROVAL OF MINUTES 1. Approve Minutes from May 19, 2026 Meeting REPORTS Chair Person Audit Committee City Council Liaison Staff Report UNFINISHED BUSINESS NEW BUSINESS 2. New Government Center Funding Discussion PUBLIC COMMENTS NEXT MEETING DATE Next Meeting is August 25, 2026 ADJOURNMENT Posted by: Date/Time posted: City of Creve Coeur Next Meeting Date: Page 1 Page 1 of 7  AGENDA CITY OF CREVE COEUR FINANCE COMMITTEE 300 NORTH NEW BALLAS RD MAYORS CONFERENCE ROOM JULY 14, 2026 4:00 PM If you need special accommodations to attend a meeting, services may be arranged by contacting the Office of the City Administrator in advance. City of Creve Coeur Page 2 Page 2 of 7  MINUTES CITY OF CREVE COEUR FINANCE COMMITTEE 300 NORTH NEW BALLAS RD MAYORS CONFERENCE ROOM MAY 19, 2026 4:00 PM CALL TO ORDER ROLL CALL Committee Chair Betty Kagan Committee Vice-Chair Stephen Keyser Committee Member Ted Armstrong Absent Committee Member Aaron Fields arrived at 4:26 PM Committee Member Christopher Floyd arrived at 4:17 PM Committee Member Ellen Lawrence Committee Member David Sentnor Others Present: Council Liaison Nicole Greer, City Administrator Kris Simpson, Director of Finance Joan Leary, and Finance Manager Tracy Brothers APPROVAL OF AGENDA Motion to move Discussion of Budget Recommendation Letter to Council to after the Approval of Agenda. RESULT: Motion to approve agenda as amended MOVER: David Sentnor SECONDER: Stephen Keyser AYES: Betty Kagan, Ellen Lawrence, Aaron Fields, Christopher Floyd, Stephen Keyser, David Sentnor NAYS: None APPROVAL OF MINUTES Approve Minutes from January 27, 2026 Meeting RESULT: Approval of Minutes MOVER: Stephen Keyser SECONDER: Ellen Lawrence AYES: Betty Kagan, Ellen Lawrence, Aaron Fields, Christopher Floyd, Stephen Keyser, David Sentnor NAYS: None REPORTS City of Creve Coeur Page 1 Page 3 of 7  MINUTES CITY OF CREVE COEUR FINANCE COMMITTEE 300 NORTH NEW BALLAS RD MAYORS CONFERENCE ROOM MAY 19, 2026 4:00 PM Chair Person Ms. Kagan thanked Ms.Obermoeller for her service to the City and Finance Committee. She also welcomed Ms. Leary as the new Finance Director. Ms. Kagan also extended a thank you to the former Council Liaison Ms. Barry. Audit Committee No report. City Council Liaison No report. Staff Report No report. UNFINISHED BUSINESS No report. NEW BUSINESS Review 3rd Quarter Financial Report Ms. Leary present and discussed the 3rd Quarter Financial Report. Approve FY2027 Calendar RESULT: Motion to approve the FY2027 Calendar MOVER: Ellen Lawrence SECONDER: Stephen Keyser AYES: Betty Kagan, Ellen Lawrence, Aaron Fields, Christopher Floyd, Stephen Keyser, David Sentnor NAYS: None Election of Chair, Vice Chair and Committee Members City of Creve Coeur Page 2 Page 4 of 7  MINUTES CITY OF CREVE COEUR FINANCE COMMITTEE 300 NORTH NEW BALLAS RD MAYORS CONFERENCE ROOM MAY 19, 2026 4:00 PM Ms. Lawerence motioned to nominate Mr. Keyser as the Chair. Stephen accepted the nomination. RESULT: Motion to nominate Mr. Keyser as Chair MOVER: Ellen Lawrence SECONDER: Aaron Fields AYES: Betty Kagan, Ellen Lawrence, Aaron Fields, Christopher Floyd, Stephen Keyser, David Sentnor NAYS: None Mr. Keyser nominated Mr. Sentnor as Vice Chair. Mr. Sentnor accepted the nomination. RESULT: Motion to nominate Mr. Sentnor as Vice Chair MOVER: Stephen Keyser SECONDER: Ellen Lawrence AYES: Betty Kagan, Ellen Lawrence, Aaron Fields, Christopher Floyd, Stephen Keyser, David Sentnor NAYS: None Budget Recommendation Letter to Council Mr. Simpson discussed with the Committee the five-year projected forecast of the proposed budget. He illustrated the continued outpacing of expenditures over revenues and discussed options for more efficiencies between revenue and expenditures. Three main areas of focus were discussed including increased trash contract costs, small business license renewal fees, and gross receipts taxes on utilities. Mr. Simpson stated that due to the renewal of the trash contract and the related cost increases, there is an imbalance between the cost of residential trash services for the city versus the amount of property tax revenues received from residents. This adjustment would not require voter approval but would be a policy change that would be implemented only after careful consideration. Mr. Simpson then discussed business license fees and referenced the fact that the City of Creve Coeur currently charges a fee based on square footage when many comparable municipalities base their fees on gross receipts of the business responsible for the fee. This change would provide more funds to the city coffers. This change in fees would require voter approval. Finally, Mr. City of Creve Coeur Page 3 Page 5 of 7  MINUTES CITY OF CREVE COEUR FINANCE COMMITTEE 300 NORTH NEW BALLAS RD MAYORS CONFERENCE ROOM MAY 19, 2026 4:00 PM Simpson spoke about the option of raising utility tax rates in order to earn appropriate funds to cover the gap between expenditures and revenues. The City is allowed to increase utility tax rates to 10% without voter approval. However, Mr. Simpson indicated that he was not recommending that we do anything immediately but we continue to observe our needs and "wait and see." Other items that Mr. Simpson shared with the Committee related to the Sewer Lateral Fund. Since fiscal year 2024 this fund has seen expenditures exceeding revenue collections. Discussion ensued regarding whether the City increase the current annual rate of $28 to a new annual rate of $50 or if an evaluation was done to determine how much the reimbursement formula should be adjusted. Committee members discussed the various options and decided on general language for the budget recommendation letter to the City Council. Mr. Simpson presented a five-year projected forecast of the proposed budget to the Committee. He highlighted the ongoing growth of expenditures surpassing revenues and explored options for improving the efficiency between the two. The discussion centered on three primary focus areas: • Increased trash contract costs • Small business license renewal fees • Gross receipts taxes on utilities Mr. Simpson noted that the renewal of the trash contract has created a discrepancy between the city's residential trash service costs and the property tax revenues from residents. This adjustment would constitute a policy change requiring careful consideration but would not necessitate voter approval. He also addressed business license fees, explaining that the City of Creve Coeur currently uses a fee structure based on square footage, while many similar municipalities utilize gross receipts as a basis for fees. This adjustment could enhance city revenue but would require voter approval. Lastly, Mr. Simpson mentioned the potential for increasing utility tax rates to generate sufficient funds to bridge the gap between expenditures and revenues. The city may City of Creve Coeur Page 4 Page 6 of 7  MINUTES CITY OF CREVE COEUR FINANCE COMMITTEE 300 NORTH NEW BALLAS RD MAYORS CONFERENCE ROOM MAY 19, 2026 4:00 PM raise utility tax rates up to 10% without voter approval; however, he recommended a cautious approach with no immediate action, suggesting ongoing monitoring of needs. Additionally, Mr. Simpson informed the Committee about the Sewer Lateral Fund, which has experienced expenditures exceeding revenue since fiscal year 2024. A discussion took place regarding the possibility of raising the current annual rate from $28 to $50 or evaluating adjustments to the reimbursement formula. The Committee agreed on general language for the budget recommendation letter to the City Council. Review of the Public Safety Policy The Finance Committee discussed both the current Public Safety policy as well as suggested revisions by City staff. A comprehensive discussion ensued regarding the need for amending the policy. An adjustment was recommended and adopted to item (c) of the proposed changes modifying the percentage from 5-10% to 5-15%. RESULT: Motion to amend the Public Safety Policy recommendation MOVER: David Sentnor SECONDER: Christopher Floyd AYES: Betty Kagan, Ellen Lawrence, Aaron Fields, Christopher Floyd, Stephen Keyser, David Sentnor NAYS: None PUBLIC COMMENTS NEXT MEETING DATE Next Meeting is August 25, 2026 ADJOURNMENT City of Creve Coeur Page 5 Page 7 of 7