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Finance Committee Minutes February 25, 2019 <br />D. 2018 Cash & Investment Report <br />Staff presented the 2018 Cash & Investment Report, which provides portfolio information as of <br />December 31, 2018. The portfolio totaled $83 million comprised of $58 million in cash and cash <br />equivalents and $25 million in longer term investments. An $18 million reduction is attributed <br />mainly to Public Safety Plan investments as well as the 42nd Avenue South and 53rd Avenue South <br />street improvements. 2018 investment earnings of $1.58 million represents a 60% increase over <br />the 2017 total. DISCUSSION ONLY. <br />E. Marijuana Retail <br />Chair McLeod stated that he would like the Committee to spend time reviewing pros and cons <br />of expanding opportunities for marijuana retail establishments. It has been a few years since <br />legalization was enacted and the City's current zoning was put into place, and the information <br />should be reviewed to see what has changed. Committee members discussed information they <br />would like to surface, including other cities' experiences, public safety concerns, crime <br />statistics, financial impact, and changes to state law or implementation. RETURN TO <br />COMMITTEE. <br />III. MISCELLANEOUS <br />Staff handed out copies of the sales tax revenue earned through December 2018. Total sales tax <br />revenue increased $96,182 over the same period last year, with construction sales tax up $29,421. <br />The full report will be presented in March. <br />Adjourned at 6:29 p.m. <br />Committee Chair Approval <br />Minutes by LH <br />