Fiscal Committee Meeting

MINUTES Tuesday, July 5, 2016 Fiscal Committee 6:02 PM DRAFT until approved at next Carnegie Town Hall committee meeting 235 West 10th Street Members Present: Michelle Erpenbach, Pat Starr Members Absent: Christine M. Erickson, Rex Rolfing Staff Present: David Bixler, Budget Analyst; Jim David, Legislative Affairs/Operations Manager; Tom Greco, City Clerk 1. Call To Order Committee Chair Michelle Erpenbach called the meeting to order at 6:02 p.m. 2. Approval of Minutes A. Meeting held on June 7, 2016 A motion was made by Pat Starr and seconded by Michelle Erpenbach to approve the minutes. Committee Chair Erpenbach called for a voice vote and all members present voted yes. Motion Passed. 3. Reports and Updates A. Reserve Discussion and Financial Update by Tracy Turbak, Director of Finance Tracy Turbak, Director of Finance, provided a presentation that included the following topics: The May 31, 2016 Financial Update; Introduction to General Fund Reserves; Budgeting for Sales Tax Revenue; and Managing with Slower Sales Tax Revenue Growth. As a result of a time constraint Turbak was unable to cover the portion of the presentation that discusses "Managing with Slower Sales Tax Revenue Growth" in detail. Erpenbach stated that she will work with staff to schedule the final portion of the presentation.  B. Workforce Development Initiative by Mike Gray, Economic Development Coordinator Erpenbach stated that this agenda item would be presented at a future meeting due to a time constraint. 4. Open Discussion There was no open discussion. 5. Adjournment Committee Chair Michelle Erpenbach adjourned the meeting at 6:44 p.m. Thomas M. Greco City Clerk