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EN HILLS <br /> 4110 <br /> VI. QUESTIONS/COMMENTS FROM COMMITTEE <br /> Preliminary budgets are being worked on and will be given to the Council in mid- <br /> October. Final budgets will not be approved until Early December. <br /> Discussion was had on what the Council's priority was on fund balance. Finance <br /> Director Iverson stated that the committee was to start with General Fund <br /> balance and then we would work on the capital and reserve funds. This will take <br /> some time to develop as we need to finish the financial plan and the 2008 budget <br /> process in order to complete those policies. She cautioned that we need to <br /> come up with initial policies and that we would probably refine them over time as <br /> we work through the issues. <br /> VII. NEXT MEETING AGENDA— October 9th, 2007 <br /> A. Continue Fund Balance Policy Discussion <br /> VIII. ADJOURN <br /> Motioned: Jim Ostlund <br /> • Seconded: Maurice Gieske <br /> Scott Bronson, Chair Susan K. Iverson, Finance Director <br /> II <br /> City of Arden Hills <br />