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Mounds View City Council May 29, 2012 <br />Regular Meeting Page 9 <br /> <br />enforcement. He did not feel that crime in the City of Mounds View was on the rise. The 1 <br />numbers were a direct result to the diligent actions of the police officers. 2 <br /> 3 <br />2. Finance Department Quarterly Report. 4 <br /> 5 <br />Finance Director Beer reviewed the Finance Department’s first quarter report with the Council. 6 <br />He stated the expenditures were on track for the first quarter and the fund balance would assist 7 <br />with covering these expenses until property taxes were collected in June. He reviewed the 8 <br />revenues collected from the Community Center in detail. 9 <br /> 10 <br />Finance Director Beer commented the Street Improvement Project Fund had a $7 million fund 11 <br />balance and the City could accelerate Project Areas G and H. He noted the cable television fund 12 <br />may have to be used to assist with technology changes for the City. He indicated franchise 13 <br />renewals were being negotiated at this time. 14 <br /> 15 <br />Finance Director Beer stated interest income was down for the City’s investments. The economy 16 <br />was not improving and the Federal Reserve has been influencing interest rates. He reviewed the 17 <br />new rates stating there was a significant yield rate loss on the City’s behalf. He anticipated that 18 <br />the Federal Reserve would keep interest rates low until 2014. 19 <br /> 20 <br />Finance Director Beer indicated the State Legislature passed a stadium bill and bonding bill, in 21 <br />addition to a 2012 tax bill. He discussed further how the 2012 tax bill would affect the City of 22 <br />Mounds View. He noted the housing market has bottomed out and the economy would begin to 23 <br />improve as the housing stock begins to be purchased again. 24 <br /> 25 <br />Mayor Flaherty commented the housing market was beginning to move and houses were selling 26 <br />more quickly than in the past. Finance Director Beer agreed stating the number of calls from title 27 <br />companies was increasing. 28 <br /> 29 <br />City Administrator Ericson reported today was the end date for applications for the Building 30 <br />Official position. The City received more than 30 applications and Staff will be reviewing this 31 <br />information with interviews beginning next week. 32 <br /> 33 <br />City Administrator Ericson indicated the 2013 budget priorities would be discussed at the June 34 <br />4th work session meeting along with long-range planning. He reviewed additional items planned 35 <br />for the Council to discuss at that meeting. 36 <br /> 37 <br />Mayor Flaherty noted the former Pak building has been repainted. He was pleased to see that 38 <br />this site was being redeveloped. 39 <br /> 40 <br />Council Member Mueller asked when the employee appreciation luncheon would be held. City 41 <br />Administrator Ericson stated the event was scheduled for Wednesday, June 13th at 11:30 a.m. He 42 <br />invited the City Council to attend the luncheon. 43 <br /> 44 <br />C. Reports of City Attorney. 45