CCP 12-28-1994 - Laserfiche WebLink

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ut:.L-lb-l'='~.q !:;.1~= 11 l-~ur'l HENNEPIN COUNTY -< , . \ . ViS . - ARDEN HillS FINANCE COMMmEE Minutes for November 21, 1994 - Call to Order: The meeting was called to order at 7:40 PM. The following members were present Cristine Leavitt. Chuck Mertensotto. carl Rundquist, Tom Steele and Charles Stoddard. Committee members Fran Holmes and Charlotte McNeish were absent. Also present were City Council member Paul Malone and Acting City Administrator Terry Post. Minutes Approved: The minutes for the meeting of October 25, 1 994 were approved as amended. The sentence on page 2 pertaining to Everest Development was amended to read: "Everest Development is COnsidl!lillg a development proposal for the Gateway area at 694 and 35." City Accountant/Treasurer's Report: Terry Post talked about the proposed 1 995 budget and the Truth in Taxation Hearing scheduled for November 30 at TCAAP. He pointed out that the budget for 1995 holds the city's business at the same level as 1 994. There are three items that contribute to the budget increase over 1994. The increases are: a $10,000 contribution for the Northwest Youth and Family Services 4' agency, $28,700 to establish a capital equipment replacement fund for the General Fund, and $47,500 to establish a capital fund to replace fire fighting equipment. In response to a question, Terry Post pointed out that tax collections in Arden H~1s are typically 98% of the amount levied. He also pointed out that the portion of the City's tax capacity provided by commerciaVindustrial properties has declined by 4% for 1995. He asked the commttee if they had any ideas about questions likely to arise during the truth in taxation hearing. Terry said the city has advertised for the administrator vacancy in the StarTribune and with the League of Minnesota Cities. Terry asked which committee members were interested in reappointment to the Finance Committee for 1995. Cristine Leavitt, Chuck Mertensotto, Cart Rundquist, Tom Steele and Charles Stoddard said they were interested in reappointment. Terry also asked members to suggest potential new members for the committee. Pa rks Foundation: Chuck Mertensotto suggested that the City needs to begin fund ldising soon if the Parks Foundation is going to be a success. . Utility Rate Subcommittee: Among the issUes to be considered: 1. What is the measure of financial health for the Sewer and Water Utility Funds? Carl - pointed out that the cash positIOn of the Sewer Utility has deterioldted by $120,000 over the last five years. The cash position of the Water Utility has improved slightly