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• <br />• <br />• <br />1 <br />2 <br />3 <br />4 <br />5 <br />6 <br />7 <br />8 <br />9 <br />10 <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />18 <br />19 <br />20 <br />21 <br />22 <br />23 <br />24 <br />25 <br />26 <br />27 <br />28 <br />29 <br />30 <br />31 <br />32 <br />33 <br />34 <br />35 <br />36 <br />37 <br />38 <br />39 <br />40 <br />41 <br />42 <br />43 <br />44 <br />45 <br />COUNCIL FINANCIAL RETREAT <br />DATE <br />TIME STARTED <br />TIME ENDED <br />MEMBERS PRESENT <br />MEMBERS ABSENT <br />AGENDA ITEM 1B <br />JUNE 13, 2006 <br />DRAFT <br />CITY OF LINO LAKES <br />MINUTES <br />: June 13, 2006 <br />. 5:30 p.m. <br />. 7:20 p.m. <br />: Council Members Carlson, O'Donnell, <br />Reinert, Stoltz and Mayor Bergeson <br />: None <br />Staff members present: City Administrator, Gordon Heitke; Finance Director, Al Rolek; <br />Community Development Director, Mke Grochala; Public Services Director, Rick <br />DeGardner; Chief of Police, Dave Pecchia; and City Clerk, Julie Bartell <br />Finance Director Rolek stated that as presented at the last City Council meeting, the City's <br />2005 Annual Financial Report indicated the City is in good standing financially. However, <br />there are some issues that could weaken that position in the next several years. Staff <br />would like to show those specific areas of possible weakness this evening. <br />Mr. Nick Dragisich, Springsted, came forward and presented a power point presentation <br />advising the objective is to identify potential financial problems areas, identify underlying <br />factors or policies that may have lead or may lead to _problems and suggest possible <br />solutions. <br />Mr. Dragisich reviewed the GeneralFund historical performance and projections, as well <br />as the General Fund recommendations. He also noted the City's financial risks including <br />1 the Super Rink, YMCA and Blue Heron Days. He noted t{he City should quantify <br />exposure and develop and quantify financial options in terms of those financial risks. <br />Mr. Dragisich provided the history of the Area and Unit Find noting the balance of that <br />fund has declined. He indicated that trend would continue throughout the next five years. <br />Future special assessment funds will bring the balance up but it is uncertain when those <br />funds will be received. He also reviewed the Facilities Replacement and Maintenance <br />recommendations. <br />Mr. Dragisich provided an overview of the Pavement Management Plan noting the number <br />1 of roads within the City needing, reconstruction outside of the Pavement Management Plan <br />would continue to rise. He also reviewed a Comparison of Financial Alternative including <br />property tax levy and annual maintenance levy. <br />Finance Director Rolek reviewed the Storm Water Management Fund balance, revenue <br />and expenditures. He noted the balance of this fund has dropped since 2003 and future <br />expenditures will exceed revenue slightly. Small maintenance projects have been a big <br />Formatted: Centered <br />Formatted: Numbering: Continuous <br />-1 Deleted: a <br />Deleted: T <br />Deleted: ed <br />