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<br /> ARDEN HILLS CITY COUNCIL WORKSESSION MINUTES <br /> MARCH 14,2005 7 <br /> . <br /> Mr. Siddiqui stated Council would need to be comfortable dipping below the fund balance the <br /> Council had established of $500,000. Ms. Wolfe noted the dipping below the fund balance <br /> would be looked at as a temporary measure with the plan to get the fund balance back up after a <br /> certain period of time. <br /> Councilmember Grant stated he did not want the fund balance to go below $500,000. <br /> Council member Larson stated he wanted staff to make a recommendation as to whether <br /> Council should go below $500,000 in the fund. He stated he could not make that determination <br /> tonight because he did not have enough information. <br /> Councilmember Grant stated they had established a policy that the Council would not go below <br /> $500,000 in that fund balance. Mr. Siddiqui stated it was an informal, unwritten policy that was <br /> used as one of the basis for determining the utility rates and that the Council had not adopted a <br /> formal fund balance policy. <br /> Mr. Moore noted the fund balance would be under $500,000 after five years. <br /> Mayor Aplikowski asked if staff had enough information to come back to Council with a <br /> recommendation. Ms. Wolfe replied staff had enough information to develop options, but she <br /> . did not know if staff had enough for a recommendation. <br /> Mayor Aplikowski asked if they discussed this again at the next work session, would there be <br /> enough time to obtain bids. Mr. Brown replied timing was an issue if they were going to accept <br /> the bids already prepared, but if they were looking at late 2005 or 2006, there would be sufficient <br /> time to rebid the project. <br /> Councilmember Larson asked if they were closing any options they had for this year if they let <br /> the bids lapse. Ms. Wolfe stated there was a chance they could make timing work, but staff <br /> needed to discuss this tomorrow and determine ifthis would work. <br /> DISCUSSION REGARDING WORK SESSION MEETING PROCEDURES AND <br /> HISTORICAL PROCEDURES <br /> Ms. Wolfe stated during the 2004 and 2005 City Council retreats, the topic of Meeting <br /> Procedures was discussed. Various aspects of meeting procedures have also been brought up <br /> during the past year or so. In addition, the topic of Historical Procedures was brought up at the <br /> 2005 retreat. <br /> Councilmember Holden stated it was tough getting to a work session meeting by 4:45 p.m. and <br /> she would prefer to have the meetings start at 5:00 p.m. <br /> . Councilmember Grant stated 5 :00 p.m. was good for him. Councilmember Larson agreed. <br /> 7 <br />