CC MINUTES 08131985 - Laserfiche WebLink

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✓ -4- The American Risk consultant had advised the City to accept the League of Minnesota • Cities Insurance Trust bid for a $1 ,00.0,000 limit umbrella insurance coverage at an annual cost of $16,000 indicating he perceived this was the best deal which could be made under the current insurance situation in the state. Mr. Childs indicated he concurred, and told the Councilmembers this payment would bring the City's total insurance to approximately $40,000 less than had been anticipated at first. The Manager added that the City would be permitted to make this outlay from a special levy if necessary. Motion by Mayor Pro Tem Ranallo and seconded by Councilmember Marks to authorize staff to purchase $1 ,000,000 in umbrella insurance coverage for $16,000 from the League of Minnesota Cities Insurance Trust under the conditions recommended by the City's risk consultants. Motion carried unanimously. In his memorandum, which had been included in the Council agenda packet, Mayor Sundland had advised that on August lst, the Association of Metropolitan Munici- palities Board of Directors had appointed Councilmember Makowske to serve on the Housing Committee, which, the Councilmember said,. would. explore various options for housing, .and had reappointed the City Manager to the General Legislation Committee. Congratulations were extended to both appointees. Tentative dates for Council work sessions on the budget were set for around 5;15 P.M. the evenings of August 28, and September 4 and 9. • As one of his final services to the City, Steve Carlson had drawn a comparison between the unappropriated reserve fund balances maintained by the-City and those kept by other 4th c-lass cities in the metropolitan area, i-n his August 9th memorandum to which the Administrative Intern. had attached a copy of the March directive from the Minnesota League of Cities which�:urged municipalities to "maintain a working capital as a bridge over gaps between revenues and expenditures" . Mr. Childs indicated the City' s reserves had been running about 39% but with the insurance cost overages this year, would probably be reduced. There was general agreement that it would be imperative to start building up a reserve from which the capital equipment expenditures anticipated for the future could be paid. Motion by Councilmember Marks and seconded by-'Mayor-iPromiem Ranallo to establish a City Council policy whereby the City would attempt to maintain an unappropriated general fund up to 35% of the current City reserve ofequal to 35% of current City expenditures with any excess appropriated to the Capital Outlay Fund. Motion carried unanimously. The Mayor Pro Tem thanked Steve for the aid he had given the Council and City this summer and urged him to give serious consideration to becoming a City Manager when he finished his schooling since Mayor Pro Tem Ranaflo said, he perceives there was a "great need for persons of Steve's calibre and dedication in that field". The Administrative Intern responded by saying Council cooperation had his job easier. Motion by Councilmember Makowske and seconded by Councilmember Marks to adopt the • resolution which authorized the City's participation in the Ramsey County Com- munity Development Block Grant Program.