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City Council Regular Meeting Minutes <br />January 8, 2019 <br />Page 6 <br /> <br /> <br /> 1 <br />City Manager Casey reviewed the City Council is requested to consider approving a resolution to 2 <br />revise the Fund Balance policy with an effective date of 12/31/2018. The revisions proposed are 3 <br />limited to the General Fund Policy with the marked-up revisions provided. 4 <br /> 5 <br />As part of the Minimum Fund Balance calculation expenses attributed to the police services 6 <br />contract are deducted from the general fund operating budget. The resulting net operating 7 <br />expenditure level is used in the calculation of Minimum Fund Balance. Staff is proposing the 8 <br />excluded expenses be expanded to include the following: 9 <br /> Expenses attributed contracted Financial/HR services provided to the Mississippi Water 10 <br />Management Organization and the City of Birchwood Village 11 <br /> Expenses attributed to the Fire State Aid payment to the St. Anthony Fire Relief 12 <br />Association, for which a matching intergovernmental revenue source exists. 13 <br /> 14 <br />The revisions negate the impact to the Minimum Fund Balance of any change in state aid levels, 15 <br />along with lowering the Minimum Fund Balance required. 16 <br /> 17 <br />Councilmember Stille asked if the auditors are okay with this and City Manager Casey stated 18 <br />they are. 19 <br /> 20 <br />Motion by Councilmember Jenson, seconded by Councilmember Gray, to approve Resolution 21 <br />19-015; a Resolution approving Fund Balance Policy Revisions Effective as of 12/31/2018. 22 <br /> 23 <br />Motion carried 5-0. 24 <br /> 25 <br />VII. REPORTS FROM CITY MANAGER AND COUNCIL MEMBERS. 26 <br /> 27 <br />City Manager Casey reported the Winter Newsletter is out. The option of email is available to 28 <br />residents. 29 <br /> 30 <br />Councilmember Stille stated on December 13, he attended a Real Estate Affordable Housing 31 <br />Summit. On December 14, he attended the Urban Land Institute Affordable Housing Seminar. 32 <br /> 33 <br />Councilmember Gray had no report. 34 <br /> 35 <br />Councilmember Randle had no report. 36 <br /> 37 <br />Councilmember Jenson had no report. 38 <br /> 39 <br />Mayor Faust stated earlier today, he attended the Mississippi Water Management Organization 40 <br />meeting. 41 <br /> 42 <br />VIII. COMMUNITY FORUM – NONE. 43 <br /> 44 <br />IX. INFORMATION AND ANNOUNCEMENTS- NONE. 45 <br /> 46 <br />12