HomeMy WebLinkAbout2020-04-21 Finance Minutes4
City Councit•Committee
Meeting Minutes
April 21, 2020 - 4:00 p.m. - Electronic Meeting due to COVID-19 Emergency
Councilmembers Present: Verna Seal, Chair; Kathy Hougardy, Zak Idan
StoffPresent: David Cline, Vicky Carlsen, Rick Still, Tony Cullerton, Laurel Humphrey
Chair Seal called the meeting to order at 4:00 p.m.
I. BUSINESSAGENDA
A. Financial Impacts from COVID-19 Emergency
Staff and Council members continued discussion of financial impacts of COVID-19, including
three different scenarios based upon the timeline of the "Stay Home, Stay Healthy" order,
cash flow considerations, and next steps for Council deliberation.
Committee question(s) requiring follow up
• Add projected revenues to table summary of assumptions (page 16 of memo).
• Return to committee 4/27/20 with capital fund impacts, additional department reductions
by program, and unemployment considerations.
• Return to committee 5/11 with decision tree
• Return to committee 6/8 with updated projections and sales tax data
Committee Recommendation
Return to committee on April 27, 2020 followed by Committee of the Whole discussion.
II. MISCELLANEOUS
The meeting adjourned at 4:32 p.m.
Committee Chair Approval
Minutes by LH, reviewed byTC