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City Council Minutes Page 3 <br /> April 8,2013 <br /> 6. Work Session <br /> 6.1. German Heritage Festival <br /> Mr. Portner stated this item has been added to the agenda in response to open forum last <br /> week at which Jennifer Mueller requested city financial and advertising support on behalf of <br /> the German Heritage Festival.Specifically,she requested that the fees for police services and <br /> for the use of Lions Park Center be waived. She also requested permission to extend use of <br /> the park for the event until 11:00 p.m. <br /> Mr. Portner explained that typically financial support for community events is requested <br /> through the Economic Development Authority. He added that the Parks and Recreation <br /> Commission waived the rental fees for Lions Park Center;however, traditionally,the city has <br /> not waived actual out-of-pocket expenses. <br /> He stated the group also requested advertising support. He explained that the event will be <br /> added to the community calendar on the city's website but stated staff is not recommending <br /> advertising on the city's other media outlets because it is not a city-sponsored event. <br /> Consensus of the Council was to deny the German Heritage Festival's request for financial <br /> support in excess of the park fees that have already been waived by the Parks and Recreation <br /> Commission. Consensus was also to deny the request to extend the time of the event until <br /> 11:00 p.m. due to the proximity of Lions Park to residential areas. <br /> 6.2. Financial Management Policies Update <br /> Mr. Simon presented his staff report. He reviewed the proposed updates to the public <br /> purpose expenditure, travel reimbursement,and fund balance policies. <br /> Mr. Simon explained that with the growth of the city and budget over the years,staff would <br /> like to discuss putting a minimum and maximum percentage on the fund balance amount. <br /> He stated staff would like to consider a range.The Council also reviewed the policy of AAA- <br /> rated cities. <br /> Mayor Dietz expressed concerns with raising the fund balance reserve.Mr. Simon explained <br /> that the range provides flexibility and staff would recommend adjustments if the balance is <br /> below 40%or above 45%.He also reviewed Governmental Accounting Standards Board <br /> (GASB) Statement#54 and the ability to assign fund balance beyond the next subsequent <br /> year has changed with revised guidance provided by our auditors. He added,the amount <br /> above 45%will be recommended to be transferred out and budgeted transfers in will be <br /> made to have the same intentions and impacts. <br /> The Council concurred with implementing a general fund balance range between 40-45%. <br /> Mr. Simon reviewed other changes to the policy. He stated the final policy will come back on <br /> an upcoming consent agenda for formal approval. <br /> 6.3. Summer Office Hours Policy <br /> Mr. Portner presented his staff report. He stated that in response to the Mayor's suggestion <br /> for longer business hours for building inspections and permitting, staff suggests advertising <br />