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Home My Public Portal About20120522 finance minutesCITY OF JEFFERSON Finance Committee Meeting Tuesday, May 22, 2012 MINUTES The meeting was called to order by the Finance Committee Chairman, Councilman Shawn Schulte at 7:30 AM. Roll call showed that Councilmen Schulte, Pope, Bray and Weber as well as Councilwoman Carroll were all in attendance. The minutes of the February 16, 2012 meeting were reviewed and a motion to approve was made by Councilman Weber and seconded by Councilman Pope. The minutes were approved unanimously. The next item on the agenda was a short report by the Finance Director covering the Sales Tax Revenue for May and inclusive of the first seven months. A short discussion ensued. The next item on the agenda was a short report by the Finance Director covering the Lodging Tax receipt s to date. A projection of approximately $560,000 in revenue is projected for the first year. The next item on the agenda was a review of a proposed ordinance change. This new ordinance would comply with 34.070 RSMO in codifying the preference for Missour i products and firms. A brief discussion ensued and a motion to send this proposed ordinance to the full council was made by Councilman Pope and seconded by Councilman Weber. The motion was approved unanimously. The next item on the agenda was a short report by the Finance Director regarding the status of the ongoing Business License audit. Discussions ensued regarding the collection process and the year to date revenue associated with the audit. The next item on the agenda was a short presentation by the Finance Director on the process associated with the month-end and year-end financial closing. Mr. Schlueter reported the delays encountered by the finance department in performing these closings due to the other departments not working within the guidelines. The auditors have pointed out these problems and all agreed that a formal meeting with all of the department directors should be called to discuss these problems. The auditors want to attend this meeting as well as the City Administrator and the Finan ce Committee chair to emphasize their compliance with these finance timelines. The next item on the agenda was a review of the proposed Finance Committee Meeting dates. A motion to approve these future meeting dates was made by Councilman Pope and second ed by Councilman Bray. The motion was approved unanimously. There was no New Business or Old Business and the adjournment took place at 8:40 AM.