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1 CITY OF ST. ANTHONY 2 WORKSESSION MINUTES 3 May 4, 1999 • 4 7:00 p.m. 5 6 7 I. CALL TO ORDER. 8 Meeting called to order at 7:00 p.m. 9 10 H. ROLL CALL. 11 Councilmembers Present: Ranallo, Marks, Faust, and Cavanaugh. 12 Councilmembers Absent: None. 13 Also Present: Michael Mornson, City Manager; Kim Moore-Sykes, Management Assistant; 14 Roger Larson, Director of Finance; and Stuart Bonniwell, Auditor. 15 16 III. AUDIT PRESENTATION BY STUART BONNIWELL AND FUND BALANCE 17 REVIEW BY ROGER LARSON: 18 Stuart Bonniwell, CPA, presented and reviewed the City's Financial Report for 1998. He 19 reported that the City and the HRA financial reports show the City in good financial condition. 20 He indicated that all of the fund balances show a surplus and all debt service funds have fund 21 balances sufficient to pay the debt obligations. Also, Mr. Bonniwell reported that the 1998 22 liquor sales are up 15% over 1997 operations. 23 24 Roger Larson reviewed 1998 revenues and expenses for the police contracts with Falcon W5 Heights and Lauderdale. He presented graph's showing that the liquor department's upward 26 trend in profits. He reviewed the 1998 General Fund reserves and a discussion took place to 27 designate the profits from the police contracts, liquor operations and the General Fund 28 Reserves. 29 30 Council and Staff discussed possible changes to the budgeting process. The City Manager 31 indicated that the 2000 budget and Five-Year Capital Equipment Plan are in the planning 32 process and that department budgets are due June 18th. After consideration that park 33 redevelopment projects and renovations to the City's parks could occur over an extended 34 period of time, the auditor suggested that a separate fund could be established for the Parks. 35 36 IV. FIVE YEAR BUDGET PROJECTION BY ROGER LARSON 37 The Finance Director reviewed the process by which a five-year budget projection was 38 determined. He indicated that he used the 1999 budget figures and made financial assumptions 39 based on the City's budget and other appropriate financial information. Larson presented 40 budget figures that assume a modest growth in the budget and levy over the next five years. 41 42 V. REVIEW YEAR 2000 BUDGET CALENDAR 43 The City Manager reviewed the calendar for the 2000 budget process. He indicated that the 44 August 4' Council worksession meeting with Council and Staff is an important meeting for the 45 budgeting process because this is when the Staff will present budgetary needs for 2000. The • 6 City Manager reported that the proposed 2000 budget will be presented to the public at the 4 47 October worksession, scheduled for October 5t'.