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