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MINUTES <br /> EN HILLS <br /> • FINANCIAL PLANNING & ANALYSIS COMMITTEE <br /> Tuesday, October 14, 2008 <br /> 6:00 P.M. <br /> Council Chambers, Arden Hills City Hall <br /> CALL MEETING TO ORDER AND ROLL CALL <br /> The meeting was called to order by Scott Bronson at 6:02 pm. <br /> MEMBERS PRESENT: Scott Bronson; Stan Harpstead, Council Liaison; Jeff Johnson; <br /> Maurice Gieske; Jim Ostlund <br /> MEMBERS NOT PRESENT: Al Hilgers <br /> OTHERS PRESENT: Sue Iverson, Finance Director; oe Rueb, Accounting Analyst; <br /> Pang Silseth, Accounting Clerk; Arlene Mitchell, Co., unication Committee Member <br /> Call to Order <br /> 1. APPROVAL OF THE AGENDA <br /> Motioned: Maurice Gieske <br /> Seconded: Jim Ostlund <br /> • 2. APPROVAL OF August 12, 2008 J <br /> Motioned: Jim Ostlund <br /> Seconded: Maurice Giesk <br /> ,t, . <br /> 3. UNFINISHED AND N :SS <br /> A. Identity Theft Po entio 'rogram (Red Flags Rule) <br /> Finance Director sol 'eviewed background on the Identity Theft , <br /> Prevention Program ell as new compliance requirements and other cities c-' (5 <br /> policies. Gieske asked if the FPAC members can be held liable if someone's <br /> identity is stolen. FPAC members will not be liable as the City's employees �`_�� <br /> and committee members are covered by the League of MN Cities:''P"a i`g' <br /> Silseth reviewed the cities procedures. The Committee suggested changes to <br /> be made and will re-review_ <br /> B. Review Investment Portfolio and Investment Policy <br /> Next time the investment policy is changed, look to remove section 11, titled <br /> "Exemption", on page 6. The committee requested a presentation from a 4M <br /> represenative on the security of the 4M Fund. The committee also strongly <br /> encourages further diversification. Finance Director should also explore <br /> further investments with local banks. <br /> City of Arden Hills <br /> 1245 West Highway 96•Arden Hills Minnesota 55112 <br /> Phone 651.792.7800•Fax 651.6345137 <br /> w ww.ci.arden-hills.mn.us <br />