CCP 05-30-1995 - Laserfiche WebLink

Home Browse Search

I MAY-23-199S 11:30 FROt1 HENNEPIN COUNTY TO Post-it' Fax Note 7671 To <: ru. I Co.lDep~ r=.w CQ#~ IS. Phon. "lo"J,.3 - ~6 7' Phone ""'3 '1'1 <( <.2. 1" . Fax. 33 ~~p,'1 Fax. :3 'If - 3\1'f" I ARDEN HillS FINANCE COMMITTEE I Minutes for April 27, 1995 Call to Order: I The meeting was called to order at 7:35 pm. Members present included: Marl< Labine, Charlotte McNiesh, Chuck Mertensono, Tom Mulcahy, Can Rundquist, Tom Steele and Charles Stoddard. I Committee member Cristine Leavitt was absent. Also present were City Cooneil member Paul Malone and Ci Accou,ntant Terry Post. I " The i eting of March 23, 1995 were approved with one amendment. The opening sentences of item 2 were amended to read as follows: "Fran Holmes provided the I Committee with a status report on citizen reaction to the sale of open space owned by Bethel College. Fran is a member of a non-profit group comprised of local residents concerned about possible development of the open space property. It is zoned R-1 which permits the construction of single family homes." I City AccountantlTreasurer's Report: Ie The external auditor has suggested that Arden Hills create a valuation reserve of $69,916 to reduce the basis for the Piper fund to marl<et value. The auditors have completed their field worl< for the year end 1994 statements. I TCAAP Property: Tom Steele reported on the Vento Committee meeting he had attended. Terry Post pointed out that Alliant Tech has a contract to store ammunition on the site for future military contingencies. I Mark Labine and Tom Mulcahy reported on their research into the possibility that Arden Hills might receiVe assistance from graduate students from the University of Minnesota. Paul Malone said he had informed the Mayor after their previous report on this matter. Chuck Mertensotto I said he had Cilled Hamline UniVersity to inquire if they could provide a graduate student. Hamline could provide a student during their summer session. Input/OutPut Mattix: I Tom Steele reported that he had talked Bob Kirchner from the City of Anoka about their input! output matrix project. Tom pointed oot that there would be a significant amount of grunt I work required to link the variables necessary to create an input/output matrix for the TCAAP project. Chuck Mertensotto encouraged Tom to keep working at this project as it was the most concrete contlibution on which the Finance Committee was working. I Investment Policy: Terry Post reported on his research into a new investment policy for the City. He had attended a ~. seminar SfJOlI$Ol"ed by Norwest Bank for public entities. After considerable discussion about the current investment policy and whether or not mutual funds should have any role in the City's investment portfolio, it was decided that Terry would, if his schedule allowed, draft an investment policy and forward it to Chuck Stoddard for his review and comments before the May Finance Commlttee meeting. I I ''',.''