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River <br /> <br />MEMORANDUM <br /> <br />Item <br /> <br />TO: <br /> <br />FROM: <br /> <br />DATE: <br /> <br />SUBJECT: <br /> <br />Hayor and Council <br /> <br />Lori Johnson, Finance Director <br /> <br />October 17, 200 I <br /> <br />Key Financial Strategies Worksession <br /> <br />Over the course of the last year, Rusty Fiefield has led the Council through discussions <br />on financial strategies and issues facing the city. One of the major components of the key <br />financial strategies project was to develop a financial management plan. The plan lays <br />out financial management policies in many areas including property tax, debt, budgeting, <br />reserve funds, and others. In order to provide the Council with adequate time to review <br />the plan, it is being distributed early. <br /> <br />The focus of Monday's work session is to discuss the policies included in the financial <br />management plan so the plan can be finalized. Once the plan is in final form, staff and <br />the Council can begin the implementation process. Although, as you review the plan you <br />will note that most of the items are already in place, therefore, no implementation is <br />necessary. However, there are other items, such as the capital improvement plan will <br />require implementation. <br /> <br />Staff will be prepared to answer questions and provide additional information at the <br />Council meeting. Please feel free to call with questions or comments before the meeting <br />as well. <br /> <br />Action Requested <br /> <br />The Council has asked to consider the draft financial management plan and recommend <br />changes as the Council deems appropriate. If council is comfortable with the plan as <br />proposed, it may be approved so that we move onto implementation. <br /> <br /> <br />