Informational Meeting

MINUTES Informational Meeting Tuesday, April 23, 2024, at 4:00 PM Carnegie Town Hall, 235 West 10th St., Sioux Falls, SD 57104 1. Call To Order Council Members Present: David Barranco, Sarah Cole, Alex Jensen (arr. 4:08 p.m.), Rich Merkouris, Greg Neitzert, Marshall Selberg, Curt Soehl, Pat Starr Council Members Absent: None 2. Committee/Commission Reports A. Audit Committee: Thursday, April 4, 2024 (Council Members: Barranco (Chair), Jensen, Merkouris, Neitzert) Committee Chair David Barranco provided an update on the latest Audit Committee meeting. He expressed appreciation for the hard work done on the audits and the positive audit results. 3. Councilor Remarks Council Member Curt Soehl spoke about the parking ramp developments and progress since then. 4. Presentations A. March 2024 Financial Statements by Shawn Pritchett, Director of Finance Presentation: Approximately 10 minutes followed by discussion Shawn Pritchett, Director of Finance, presented the 2023 Financial results covering Labor Force and Employment; Unemployment; Inflation; YTD Building Permit Valuations; Sioux Falls YTD Residential Permits (Units); Sales Tax Collections Without Audits; Entertainment Tax Collections Without Audits; Industry Taxable Sales Data; Lodging Tax Receipts; Bid Tax Receipts; General Fund - Revenues YTD; and General Fund - Expenditures YTD (presentation attached to the meeting agenda). Discussion followed the presentation and questions were answered by Pritchett. B. Third Party Subsidy Agreements by Rich Merkouris, City Councilor Presentation: Approximately 10 minutes followed by discussion  Council Member Rich Merkouris reviewed financial oversite information regarding subsidy agreements. He reviewed documentation and a proposed timeline for delivering subsidy agreements to the City Council in advance of the budget review process (documents are attached to the meeting agenda). Discussion followed the presentation and questions were answered by Merkouris. 5. Public Comment There was none. 6. Adjournment Council Chair Marshall Selberg adjourned the meeting at 5:00 p.m. Tamara Jorgensen, MMC, Assistant City Clerk