HomeMy WebLinkAbout08-20-2015 Finance Committee MinutesMinutes approved May 15, 2008
CITY OF SARATOGA
COUNCIL FINANCE COMMITTEE
ACTION MINUTES
DATE: August 20, 2015
TIME: 12:00 p.m.
LOCATION: Council Conference Room
Saratoga City Hall
13777 Fruitvale Avenue
Saratoga, CA 95070
ATTENDEES: Miller, Cappello
ABSENT:
OTHERS IN ATTENDANCE: Staff members: Lindsay, Furey, McFarlane,
A. Approval of Prior Finance Committee Meeting Minutes:
1) June 23, 2015 Minutes approved
B. Oral & Written Communications:
1) N/A
C. Old Business
1) Finance Policies
a) Working Capital / Fiscal Stabilization Fund Balance Reserves
Action Item – Discussion postponed to September meeting.
b) Purchasing Policy Update
Action Item – Present to Council in Public Hearing on September 16, 2015
2) TOT Compliance Audit
Action Item – Bring report to Council, and ask:
i) If Council would like to undertake a compliance audit
ii) Inform them this is not expected to recoup funds, even to the level of the cost of the audit,
but to ensure compliance and educate the lodging owners.
iii) If Council would like to establish TOT audit rotation policy – i.e. once every five years
3) Collection Agency Information
Action Item –do not pursue Collection Agency agreement at this time. Will look into at a later
time if needed.
4) EV Charging Station profit analysis report
Action Item – Monthly report is fine as presented.
D. New Business
1) Facility Replacement Reserve
Action Item – Bring item back to next Finance Committee Meeting
Action Item – Ask Michael to reconfigure Property Schedule to reflect facilities
Action Item – Look at defining reserve use to be limited to:
(a) New facilities
(b) Facility Replacement
(c) Major Renovations
Minutes approved May 15, 2008
2) Credit Card Contract
Action Item – look into revising credit card fee to facility fee surcharge, find out if Visa could
be allowed, and debit card processing costs
3) Preliminary Year End Report
Action Item – none
4) Council Report – submit contracts with reports?
Action Item – postponed, bring back to next FC Meeting.
5) Committee Items
Action Item – none
6) Next FC meeting date
Action Item – meeting date to be determined
E. Adjournment