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CITY COUNCIL WORK SESSION DECEMBER 16, 1998 <br /> revenue is an estimate and will change as bills are paid for year end and the books are <br /> closed. For instance, the 49er's union employees will receive their back pay before the <br /> end of the year. <br /> This item will appear on the agenda at the regular Council meeting on Monday, <br /> December 21, 1998, <br /> INVESTMENTS AND DEPOSITORIES UPDATE, DARYL SULANDER <br /> Daryl stated the current investment policy has been in place for six(6) or seven(7) years. <br /> An amendment is proposed relating to the Finance Director position. Because that <br /> position no longer exists, it is recommended that the policy be changed to state the <br /> "Finance Officer". It is important to have the investment policy updated since <br /> notifications are sent to different financial firms during the annual audit. Only a minor <br /> wording change is needed to correct the policy. <br /> This item will be added to the regular Council agenda for Monday, December 21, 1998. <br /> Daryl stated he would like to designate depositories for the City on Monday evening. He <br /> would like to add the Lino Lakes State Bank and the 4M Fund so that he can use their <br /> services. Staff will follow the policy regarding depositories as it relates to newly formed <br /> banks. A request for proposals will be sent to all banks in Lino Lakes for normal banking <br /> services. The City will use the Firstar Bank through June 30, 1998. <br /> It was the consensus of Council to go with the depositories as Daryl recommended and <br /> direct Daryl to follow up with bids from other banks for City services. This matter will be <br /> on the Council agenda for Monday, December 21, 1998. <br /> Brian noted that no incentives were given to the new banks to locate in Lino Lakes. <br /> 1998 STORMS UPDATE,DAVE PECCHIA <br /> Dave stated a"green sheet"regarding storm costs will be distributed on Friday. Daryl <br /> went over the numbers relating to the cost of the damages, Federal funding, State funding <br /> and local costs. Considering the reimbursement from other agencies, the City will be <br /> responsible for about$42,000 of the costs. The City will be asking for more help from the <br /> State surplus fund to help cover that cost. The damage expenditures were paid by the <br /> General Fund. Reimbursements will be recited directly into the Cash Balances of the <br /> General Fund. <br /> COUNTY WIDE POLICE RECORDS SYSTEM,DAVE PECCHIA <br /> Dave stated that he and Andy attended a meeting regarding a proposal to pool resources <br /> of Anoka County law enforcement agencies to provide a county-wide records system. <br /> The Anoka County Attorney's office has completed the necessary paperwork to <br /> 2 <br />