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Special City Council/CIP Work Session <br />June 1, 1993 <br />Page 3 <br />The City Administrator distributed a letter from Don Robinson which <br />regueeted appointment to the Library Board. It was noted that Ken <br />Ringstad has resigned from the Board. <br />CO[JNCILMEMBER DIETZ MOVED TO ACCEPT KEN RINGSTAD'S RESIGNATION AND TO <br />APPOINT DON ROBINSON TO THE LIBRARY BOARD TO FILL OUT KEN RINGSTAD'S <br />TERM OF OFFICE. COUNCILMEMBER HOLMGREN SECONDED THE MOTION. THE <br />MOTION CARRIED 5-0. <br />4. France Department Annual Report - Lori Johnson, Finance Director <br />Finance Director, Lori Johnson, reviewed with the City Council her 1992 <br />Anrpual Report. Lori indicated that most of the numbers related to the <br />firtancea of the City were presented last week with the Audit <br />pr@aentat ion and her Annual Report would deal more with trends and <br />isgues related to her department and only generally to the overall <br />financial status of the City. <br />Lori reviewed with the Council the work duties that are undertaken by <br />her department and examples of some projects that she has worked on in <br />1992. The City Council discussed in detail the special assessment <br />searches issue and the concern over responding to verbal requests and <br />how these verbal requests are a drain on the Finance Department staff <br />time. <br />COUNCILMEMBER FARBER MOVED TO ADOPT A CITY POLICY CALLING FOR THE CITY <br />STAFF TO RESPOND TO SPECIAL ASSESSMENT SEARCHES ONLY WHEN THE REQUESTS <br />ARE PRESENTED IN WRITTEN FORM. COUNCILMEMBER HOLMGREN SECONDED THE <br />MOTION. THE MOTION CARRIED 5-0. <br />Lori reviewed with the Council the list of activities that took place <br />in 1992, the growth in the activity level from 1985 to 1992, the list <br />of all of the 1992 funds managed by the Finance Department, bond issues <br />for 1992 and the City bond rating, the 1992 General Fund Revenue and <br />Expenditure breakdowns along with the analysis of the General Fund Cash <br />Flow Balance, and the City investments for 1992. <br />Additional discussion took place on a City investment policy. The <br />Finance Director provided a handout outlining a City investment policy. <br />COUNCILMEMBER FARBER MOVED TO ADOPT THE CITY INVESTMENT POLICY AS <br />PRESENTED BY THE FINANCE DIRECTOR. COUNCILMEMBER HOLMGREN SECONDED THE <br />MOTION. THE MOTION CARRIED 5-0. <br />Lori continued with her Annual Report and discussed the 1992 interest <br />income for the City and the 1993 (and beyond) projects forecasted to be <br />undertaken. The City Council indicated that they would like to see <br />something happen very soon on the urban/rural tax district ratio and <br />also on a city-wide storm sewer funding mechanism. <br />The City Council thanked the Finance Director for her Annual Report. <br />6. Other Business/Staff Updates <br />