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<br />ARDEN HILLS CITY COUNCIL WORK SESSION - MAY 21,2007 <br /> <br />12 <br /> <br />Discussion ensued. <br /> <br />2) 2007 Financial Update-1 st Quarter <br /> <br />Finance Director Iverson reported the field work on the audit is completed. She pointed <br />out the 2007 numbers have not yet been adjusted for changes and corrections. She <br />implied that the numbers might not be in the correct categories or departments. She <br />explained that going forward, quarterly updated reports would only include the 2007 year- <br />to-date numbers with the budget variance listed along with explanations. <br /> <br />Discussion ensued. <br /> <br />Finance Director Iverson commented that once the investment policy is complete, new <br />investment will be made as well as a change in investment companies. <br /> <br />3) Financial Planning and Analysis Committee (FPAC) Update <br /> <br />Finance Director Iverson reported the first FP AC meeting would be held May 23, 2007 at <br />7:00 p.m. She stated the order of business would be to appoint a chair, set a meeting <br />schedule, and organize the group. She explained staff would hold a training session on <br />Government Fund Accounting and Budgeting at this meeting to familiarize the committee <br />members with public sector policies and procedures. Finance Director Iverson provided <br />copies of the training materials to Council and staff. <br /> <br />Finance Director Iverson mentioned that Council is welcome to attend the meeting. <br /> <br />4. Council Comments and Requests <br /> <br />Councihnember Hohnes questioned whether a review process should be implemented for <br />individuals that are not selected to a committee, commission, or task force. She <br />commented that she spoke to an individual who applied four times and had not heard <br />back from the City. <br /> <br />City Administrator Wolfe stated there was a decentralized process recruitment process in <br />the past. She commented that staff often did not know who had applied. She noted that a <br />centralized process is being put into place and will be managed out of the Assistant City <br />Administrator office. <br /> <br />Discussion ensued. <br /> <br />Consensus was reached that staff would work on a flexible process for appointing <br />committee, commission, and task force members. <br />