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Mounds View City Council October 24,2011 <br /> Regular Meeting Page 12 <br /> • <br /> Finance Director Beer stated building permits were up slightly over last year. This was a good <br /> sign for the City, but additional time was still needed to bring the economy back to where they <br /> were. The unemployment rate continued to hover either 7% for the State of 9% for the whole <br /> country. <br /> Finance Director Beer noted the Finance Department would be busy completing the 2012 budget <br /> in the 4th Quarter and would be holding the Truth in Taxation hearing. Staff would also be <br /> preparing the insurance policy for next year. <br /> Finance Director Beer explained that after attending a training session he was informed the City <br /> would need to approve a Fund Balance Policy. He noted he would be bringing this information <br /> to the Council at a future meeting. <br /> Mayor Flaherty thanked Staff for the detailed finance presentation. <br /> City Administrator Ericson asked if the Council would like to review the full budget at the <br /> November 7th work session meeting. Finance Director Beer stated the final review typically took <br /> place in December,but the Council could take an additional meeting to discuss the information. <br /> Mayor Flaherty did not feel it was necessary to review the information in November. He <br /> encouraged the Council to speak with Staff with any concerns. The Council was in agreement. <br /> City Administrator Ericson questioned if the Council was in agreement to hold an executive • <br /> session prior to the November 7th work session to discuss labor negotiation issues. The Council <br /> was in agreement. <br /> C. Reports of City Attorney. <br /> City Attorney Riggs had nothing additional to report. <br /> 12. Next Council Work Session: Monday,November 7,2011,at 7:00 p.m. <br /> Next Council Meeting: Monday,November 14,2011,at 7:00 p.m. <br /> 13. ADJOURNMENT <br /> The meeting was adjourned at 9:33 p.m. <br /> Transcribed by: <br /> Heidi Guenther <br /> TimeSaver Off Site Secretarial, Inc. <br /> • <br />