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23. <br /> CRY OF REQUEST FOR COUNCIL CONSIDERATION Agenda Section: <br /> IVSTAFF REPORT Report Number:95-1515WS <br /> AGENDA SESSION DATENovember 6, 1995 Report Date: 11-2-95 <br /> DISPOSITION <br /> Finance Department Quarterly Report - Third Quarter 1995 <br /> Item Description: <br /> Administrator's Review/Recommendation: J� <br /> - No comments to supplement this report 4671 <br /> - Comments attached. <br /> Explanation/Summary (attach supplement sheets as necessary.) <br /> uMMARY! The City renewed coverages on its liability & property insurance coverages and <br /> workers compensation insurance on July 1. An increase of the deductible to <br /> $10,000 from $5,000 on the liability and property coverages resulted in a savings <br /> of $10,100. The City's excellent claims experience the past several years has <br /> yielded savings in premium dollars as the City's experience modifier was reduced <br /> to .72 from .75. That reduction gives the City another 3% savings from <br /> standard workers compensation rates. Another savings of $5,652 was realized <br /> upon renewal when the City chose to have a deductible of $5,000 on workers <br /> compensation medical costs. As a result of the combination of the above <br /> mentioned savings and changes in workers compensation rates mandated by the <br /> legislature this years premiums are approximately $15,000 lower than last years. <br /> • Dorothy Peterson completed the second quarter utility billing in July. <br /> • The Long Term Financial Plan was completed and adopted on August 21, 1995. <br /> • The Finance Department worked on the Proposed 1996 Budget and Property <br /> Tax Levy. Some highlights: <br /> Mary Tatarek and Kitty Hickok checked the first drafts of the 1996 <br /> Budget for accuracy of calculations. <br /> Dorothy Peterson developed a standardized format for budget narratives. <br /> Samantha Orduno, Dawn Postudensek, Cathy Bennett, Michele Severson, <br /> Sharie Linke, and Don Brager completed the budget newsletter. <br /> • The Finance Department assisted Golf Course personnel in selecting a new cash <br /> register and helped set cash handling procedures at the golf course. <br /> • Don Brager attended the MN Government Finance Officers Association <br /> Conference in Alexandria September 20 - 22. <br /> RECOMMENDATION; <br /> Donald Brager, Finance 'rector <br />