09-28-2015 Council Work Session Minutes

Home Search

CITY COUNCIL WORK SESSION September 28 , 2015 APPROVED 46 47 Council Member Kusterman asked , since the CBF is used to fund projects before bonds 48 are available , couldn ' t the city just borrow from its reserve in the same manner `? 49 Administrator Karlson noted that the city needs to maintain the reserve at a certain level 50 ( 50 % ) , and he added that it is possible to borrow from other city funds and in fact that is 51 already occurring . 52 53 Mayor Reinert addressed the city ' s fund reserve . The level of that reserve has gone up at 54 points and this council has made an effort to keep it at a reasonable level . There was a 55 discussion about the need to keep a 50 % level because the city needs cash on hand to pay 56 bills between receipt of tax revenue . Mayor Reinert noted that the city will also be 57 looking at getting a better return on investment of the reserve funds , as they are now 58 doing in Anoka County . 59 60 The council discussed the preliminary tax capacity rate . The mayor said his goal is 61 45 . 9 % and he feels the council has three months (before the final budget is approved ) to 62 work the budget to that level . He believes there are more dollars to be found . Council 63 Member Kusterman said he is interested in seeing more projections looking ahead . 64 Mayor Reinert noted that the 2017 estimate is not a real number since the council will be 65 making many decisions ; it ' s a worst case scenario that shouldn ' t be included in the 66 analysis . Council Member Roeser reviewed information he obtained from the Finance 67 Director relative to bonds that will be paid off and when ; he added that it is real 68 information . Council Member Rafferty discounted the 2017 numbers ; they are really a 69 false negative because they deal with matters not yet under discussion by the council . 70 Council Member Stoesz remarked that the option of 45 . 9 percent includes all the 71 necessary core services that the city needs . Council Member Roeser noted that the 72 figures do change significantly when you remove the voter approved levy funds . 73 74 The council concurred that the preliminary levy will be based on Option C of the analysis 75 and acknowledged that there is more work to be done before the final budget is approved . 76 77 2 . Review Regular Agenda of September 28 , 2015 . The council reviewed the 78 agenda items . A representative of Anoka County Parks gave a PowerPoint presentation 79 on the Bunker Chain of Lakes Regional Trail . 80 81 The meeting was adjourned at 6 : 20 p . m . 82 83 These minutes were considered , corrected and approved at the regular Council meeting held on 84 October 12 , 2015 . 85 86 87 >' 88 89 Julian re Bartell , CitClerk Jeff einert , Mayor 90 2