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MINUTES OF TflE WORI{SI3OI' M'1;ETING <br />CITY COUNCIL <br />LITTLE CANADA, MINNA~SOTA <br />NOVEMBER 24, 2004 <br />Pursuant to due call and notice thereof a workshop meeting of the City <br />Council of Little Canada, Minnesota was convened on the 24th day of <br />November, 2004 in the Council Chambers of the City Center located at <br />SIS 'Little Canada Road in said City. <br />Mayor Michael L Fahey called the meeting to order at 6:00 p.m. and the <br />following members of the City Council were present at roll call: <br />CITY COUNCIL: Mayor Mr. Michael I. Fahey <br />Cowrcil Member Mr. Bill Blesener <br />Council Member Mr. Jim LaValle <br />Council Member Mr. Rick Montour <br />Council Member Ms. Barbara Allan <br />ALSO PRESIJNT: City Administrator Mr. Joel R. Hanson <br />Fire Chief Mr. Jim Morelan <br />Fire ;Dept. Mi'. Jim Gustafson <br />Fire Dept. Mr. Gar Johnson <br />Fire Dept. Mi. Joe Vitale <br />RBC Dais Rauscher Mr. Dan Croonquist <br />Accounting Supvr. Ms. Shelly Rueckert <br />Deputy Clerlc Ms. Kathy Glanzer <br />The purpose of ta~ight's workshop meeting is to conduct ajoint workshop <br />with the Little Canada Fire Relief Association relative to pension <br />investment issues and City funding obligations. Mayor Fahey noted that <br />some of the discussion points include the comfort level with the current <br />financial advisor, investment ratio assumptions, comparisons with other <br />departments, the need for a new funding plan, and a look at the impact to <br />the pension fund assuming a certain number of retirements each year. <br />Vitale indicated that the funding plan needs to be revised to account for <br />the economic loss that the fund has experienced over the past few years. <br />Vitale stated that the Fire Department would like to begin the meeting by <br />presenting an overview of the various services the Fire Department <br />provides to the citizens of Little Canada in addition to fire fighting. <br />Gustafson presented a brief overview of these services which include fire <br />fighting and all the required reporting, required education, drills, <br />equipment and building maintenance and repairs, as well as charitable <br />gambling. Gustafson noted that the Little Canada. Fire Department has <br />conducted a charitable gambling operation since 1987 raising <br />