CCP 08-17-1995 - Laserfiche WebLink

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I , I. CITY OF ARDEN HILLS, MINNESOTA I COUNCIL WORKSESSION MINUTES THURSDAY, AUGUST 17, 1995, 4:30 PM I Call to OrderlRoll Call I Pursuant to due call and notice thereof, Mayor Probst called to order the City Council Worksession at 4:35 PM. Present: Councilmembers Paul Malone, Dale Hicks; City I Administrator, Brian Fritsinger; City Accountant, Terry Post; Park/Recreation Supervisor, Cindy Walsh; Public Works Superintendent, Dwayne Stafford; Administrative Assistant, Shirley Evenson. I Councilmembers Susan Keim and Beverly Aplikowski were absent. I Adopt Agenda Motion: Mayor Dennis Probst moved and seconded by Councilmember Hicks I to adopt the August 17, 1995 Worksession agenda as submitted. Motion carried unanimously (3-0). I- Agenda Item #3a. a. 1996 Budget Discussion I City Administrator, Brian Fritsinger and City Accountant, Terry Post discussed the 1996 budget. Discussion topics included market valuation, market valuation appeals, General and Special Revenue Fund, operating departmental budgets and I capital budget plans. It was suggested that the revenues generated in the Community Services Fund be I used within the commmunity for smaller projects that deal more directly with the residents. I In 1996, the City newsletter, "Town Crier", will be published on a bi-monthly (six per year) basis and the quarterly recreation brochure costs will be shown in the Program Fund in order to better match revenues. I It was suggested that preliminary approval of the 1995 levy payable in 1996 be placed on the August 28, 1995, agenda. I b. Review Investment Policy I Mr. Post, City Accountant, indicated that the City's past Piper Fund investment raised issues as it did with a number of other communities. He indicated that mutual funds are an investment tool the City should not participate in due to risk I- factors and the inability to "ladder" City investments because of no stated maturity dates. Mayor Probst indicated that we should not become too restrictive, I