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City Council Minutes Iii ovember 8, 2010 Page 2 5.1. GASB 54 Accounting Changes • Mr. Simon reviewed his staff report. He also presented a PowerPoint on the Government Accounting Standards Board (GASB) Statement No. 54 outlining fund balance reporting and government fund type definitions. Andy Berg, Abdo, Eick, and Meyers -indicated that the change is mainly in the reporting standard and that internally things will be handled the same. He added that it makes the process more transparent. Consensus of the Council was to put this item on an upcoming consent agenda for final approval. 5.2. 2011 - 2015 Capital Improvement Plan ~CIP), Mr. Simon presented the staff report. Street Improvement Be.rerve Fund Discussion took place on whether or not it was feasible to complete the trail along Proctor between Salk and 194" along with Sherburne County's project in that area. Mr. Femrite indicated that the city's trail project is an off-road trail and is separate from what the County will be doing. He stated that he will have conversations with the County to see if the trail can be included as an add-on to their project. He noted that he has spoken to the County about completing the surveying for the trail project while they axe surveying for their construction project. Discussion was also held on the city applying for a grant to complete the project. • Municipal State Aid Mr. Femrite presented his staff report. Councilmember Westgaard questioned if 18.25 miles of streets can be logistically seal coated by the street department in a year. Mr. Hals indicated that he does believe it can be done. He added that it would be a stretch for the crew, but as the program progresses it is hoped that the streets will require less maintenance which would allow additional time for seal coating. Councilmember Gumphrey questioned if there are large projects the city should be saving the MSA funding for. Mx. Femrite explained that there are none proposed at this time. He added that when the State Aid balance exceeds three times a city's allocation the funding allocation will be reduced. He noted that a State Aid Maintenance allocation of 25% is consistent with other cities. MOVED BY COUNCILMEMBER ZERWAS AND SECONDED BY COUNCILMEMBER GUMPHREY TO INCREASE THE CITY'S STATE AID ALLOCATION FROM THE EXISTING 5% REQUEST TO THE MAXIMUM 25% ALLOWED. MOTION CARRIED 5-0. Government Building Ke.rerve Fund Mr. Hals reviewed the status of the Public Works Master Plan. Ice Arena • Mr. Czech reviewed the Ice Arena Capital Improvement Plan for 2012-2016.