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<br />~ <br />~HILLS <br /> <br />than 5% of the overall portfolio may be invested in the securities of a single issuer except for the <br /> <br /> <br />securities of the U.S. Government or an external investment pool. The committee also wanted a "Counter <br /> <br /> <br />Signature" policy for individual protection. Counter Signature must be one of the following: City <br /> <br />Administrator, Asst. City Administration, Mayor, FP AC Chair, or Council Liaison. <br /> <br />The draft policy will be emai1ed to all committee members with the discussed changes for approval and <br />then presented to the City Council at the July 9th meeting for Council approval. <br /> <br />VI. NEXT MEETING AGENDA <br /> <br />The committee decided to change its meeting date from the third Wednesday of each month to the second <br />Tuesday of each month. This will enable items to be brought forward to the City Council for approval or <br />presentation at their second meeting of the month instead of having to wait until the next month. The next <br />meeting will be July loth if this is acceptable to all members. Finance Director Iverson will check with <br />the missing members and if acceptable will change the date on the City's calendars. <br /> <br />The next policy will be Fund Balance policies. This will include reviewing the CIP, the assessment <br />policy, and assessing what we can and cannot afford to do. This will be based on cash flows; some of this <br />will be done in the future when we work on tax rates and other long-range policies. Currently our City <br />works on the basis of pay as you go. <br />Jeff Johnson requested reports with the last five years of critical funds balances within the CIP. <br /> <br />VII. JOINT MEETING WITH PTRC, EDC AND PLANNING COMMISSION <br />The committee is invited to a joint meeting with the Parks, Trails, and Recreation Commission; Economic <br />Development Commission, and the Planning Commission on July 17, 2007, at the Cummings Park <br />Pavilion, at 6:00 p.rn. A BBQ will be held first and meeting to follow <br /> <br />VIII. ADJOURN <br />Meeting adjourned at 8:20pm. <br />Motioned: Jim Ostlund <br />Seconded: Jeff Johnson <br /> <br />~~ <br /> <br />Scott Bronson, FP AC Chair <br /> <br />~~/ <br /> <br />;/ <br />Susan K. Iverson, Finance Director <br /> <br />City of Arden Hills <br />