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Finance Commission Minutes <br />December 13, 2016 – Draft Minutes <br />Page 6 of 7 <br /> <br />Finance Director Miller stated it was a financial accounting suite and not a graphical product. It 226 <br />is not designed to do what TABLO does but they have worked with third parties to create 227 <br />something that could integrate with the financial data and be put on a website. 228 <br /> 229 <br />Commissioner Bachhuber stated he liked the idea of having something visual and drillable when 230 <br />trying to present information and be transparent to the Council and residents. 231 <br /> 232 <br />Commissioner Murray asked how many staff hours it would take to maintain the information. 233 <br /> 234 <br />Commissioner Hodder stated once the data was set up the updating does not take long as long as 235 <br />the data is gathered the same way. The key is knowing what you want to look at and getting it 236 <br />set up correctly. 237 <br /> 238 <br /> 239 <br />Chair Schroeder stated the Commission should revisit the dashboard at a future meeting and 240 <br />determine the audience and what they want to present. 241 <br /> 242 <br /> 243 <br />Update on the 2017 Adopted Budget & Tax Levy 244 <br /> 245 <br />Finance Director Miller stated the City Council had discussed the cost of living adjustment for 246 <br />non-union employees, the level of taxation, and how much reserve should be spent in 2017. The 247 <br />Council had decided to limit the tax levy increase to 3%. The adopted not to exceed tax levy had 248 <br />been a 5.5% increase. In order to achieve this reduction in the tax levy increase the City Council 249 <br />reduced the cost of living adjustment for non-union employees and to use more cash reserves 250 <br />than what had been originally recommended. This will create a built in $800,000 gap in the 251 <br />budget going forward and this will need to be resolved. 252 <br /> 253 <br />Chair Schroeder stated the recommended use of $800,000 of reserves does not bring the reserve 254 <br />out of the goal range in 2017. 255 <br /> 256 <br />Finance Director Miller stated the overall budget is going down in 2017 and the property tax 257 <br />supported budget is increasing 1.8%. 258 <br /> 259 <br /> 260 <br />Discussion on Establishing a Cash Reserve Fund 261 <br /> 262 <br />Chair Schroeder stated this item would be moved to the January agenda. 263 <br /> 264 <br /> 265 <br />Identify Discussion Items for the Future Meeting 266 <br /> 267 <br />None. 268 <br /> 269 <br /> 270 <br />Item #3: Attachment A