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COUNCIL FINANCE WORK SESSION APRIL 19, 1999 <br /> CITY OF LINO LAKES <br /> MINUTES <br /> DATE April 19, 1999 <br /> TIME STARTED 5:35 p.m. <br /> TIME ENDED 8:27 p.m. <br /> MEMBERS PRESENT Council Members Bergeson,Dahl,Neal and <br /> Mayor Sullivan <br /> MEMBERS ABSENT Council Member Lyden <br /> Staff members present: City Administrator, Linda Waite-Smith; Administration Director, <br /> Dan Tesch; City Engineer, John Powell; Public Services Director, Rick DeGardner; <br /> Public Safety Director,Dave Pecchia; Community Development Dire Wessel <br /> ,�;r 5 <br /> and Clerk-Treasurer Marilyn Anderson. <br /> The purpose of the meeting was to discuss updated financalion�tiirvthe <br /> �� .:, $ <br /> Council. - <br /> The format of this meeting will be the same as�&§-1 st y�rx'The staff will present the <br /> information and ask Council what other information 'e Council needs to make good <br /> decisions. Staff expects that Council mill want someone from Springsted, Inc. to come <br /> and talk about bonding and someo from Eh Ier's and Associates, Inc. to come and talk <br /> t : .. <br /> about TIF. At the end of this m tini o�calx will be asked to provide direction as to <br /> what they would like to h fo�the second,more detailed financial update meeting. The <br /> Council will also to , iy have specific guidelines for preparing the budget for <br /> next year such as s Co -'I have definite feelings regarding increasing the levy <br /> rate. <br /> Aft <br /> The Counci g n a packet compiled from different sources. <br /> STATUS OFVARIOUS FUNDS <br /> Pages 1-5 Area and Unit Fund. This Fund is a permanent improvement revolving <br /> fund which finances trunk/system wide sewer and water improvements. The funds come <br /> from new connections to the system. A presentation has been prepared based on five (5) <br /> assumptions and the projections are based on three (3) different housing growth scenarios <br /> as outlined in the Comp Plan. The amount of commercial and industrial growth scenarios <br /> are the same for each year. <br /> The cash balance of this fund is important and was a concern last year because a portion <br /> of the balance was used to pay the debt to the City of Shoreview for utility connections. <br /> The cash balance as of 12/31/98 indicates that the fund nearly recovered all of the debt <br /> that was paid to Shoreview. <br /> PAGE 1 <br />