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Mounds View City Council October 24, 2005 Regular Meeting Page 19 Finance Director Beer advised that the Cable TV Fund is benefiting from higher franchise fees and should have a net increase. The Economic Development Fund received an initial reimbursement during the quarter from Medtronic to cover costs of The Bridges development project. The Street Lighting Fund and Storm Water Fund are both on track and there appears to be no need to increase fees at this time. Finance Director Beer noted the Community Center operations have some issues that may need to be addressed fairly soon. The banquet facility revenues are under and capped at the current level. The City will be responsible for the remaining allocation of operating expenditures as a result of the City Hall. construction project. He advised the City will need to make a larger than expected transfer to maintain balance in this fund at the end of the year. Finance Director Beer stated the Street Improvement Fund has reported the remaining costs for the 2003 Street Improvement Project and is currently preparing for future street projects. The three TIF Funds will all have a positive balance and be able to make the needed transfers to the EDA fund to continue that work. Revenues of about $500,000 came into the MSA Construction Fund to reimburse for the cost of the 2003 Street Project Finance Director Beer noted with the Sanitary .Sewer Fund, revenues are down 6% from the previous year and expenses are up about 9% from the previous year. This is saying that instead of going to a revenue neutral with atwo-tiered fee system, it was not revenue neutral so the City . should look at an increase in fees. He advised that to make up that deficit. there would have to be an increase of 8.37% in fees Finance Director Beer advised that major activity for the Finance Department during the third quarter was the 2006 budget preparation and certification of preliminary levy and budget. He stated this is an ongoing process and will conclude in December with the Council's final approval of the budget. Finance Director Beer stated staff is evaluating financial software and will visit Roseville to demo their Springbrook software package, which has received positive reviews and is being used by many metropolitan cities. He stated he will obtain more software quotes for the Council's future consideration. Finance Director Beer stated staff has been looking at the general liability package and will be filling out an application necessary to convert the policy to a December 31 year end to take .advantage of premium reduction by accepting a higher deductible as recommended by the City's .insurance agent. Finance Director Beer stated in the fourth quarter staff will be completing certification of delinquent utility bills and diseased tree removal charges. Councilmember Gunn noted the City does not have Community Education as shown. in the report. Finance Director Beer explained that should indicate the "Chamber."