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