06-25-07 Minutes for Approval - Laserfiche WebLink

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ARDEN HILLS CITY COUNCIL WORK SESSION—MAY 21,2007 9 Consensus was reached to go out for bids and work out the rates and the City's • contribution options,using the lower cost plan. Finance Director Iverson presented an update of the five-year CIP. She stated she is working with the Plan-it software to input fund balances. She stated that once done, a dollar amount report would be brought to Council. Discussion ensued. City Administrator Wolfe reported Assistant City Administrator Johnson was designated as the CIP coordinator. Finance Director Iverson reported that to create a quality budget document, performance measures/service indicators need to be established for each development. She stated some of these might come about as a result of the community survey as areas the Council would like to improve. She stated goals and objectives need to be established in 2008 for each department, thus enabling actual performance tracking in subsequent years to show progress against the goals. Finance Director Iverson provided examples of performance measures/service indicators. She stated staff would appreciate input from the Council. She stated this would give the Council a better tool to evaluate City services. • Discussion ensued. Consensus was reached to move in this direction. City Administrator Wolfe stated she heard in the past that Council Members prefer a budget work session separate from other work session topics. She asked if there is a strong preference either way. Discussion ensued. Mayor Harpstead stated that if something rises to the point where significant decisions are required, a separate stand alone meeting might be required. Financial Plan Overview Finance Director Iverson reported that in late 2006, the City contracted with Ehlers & Associates, Inc. to develop a Financial Management Plan. She stated this tool would help the City assess the current financial status, assist with budget decisions, and provide a foundation for future planning. She explained part of the process involves setting goals and parameters for future budgets. She stated these goals help guide the decisions on uses of budgeted, one-time, and unexpected revenues. She stated the plan would help • prioritize capital expenditures and guide the use of debt as a financing tool.