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ARDEN HILLS CITY COUNCIL WORK SESSION - AUGUST 18, 2008 6 would be offset by a matching grant for the MnGFOA with the total impact to the general fund budget being $3,000. Councilmember Holden questioned how many months an intern would be used. Finance Director Iverson stated the intern would be used for roughly three to four months full-time or longer if used part-time to assist with audit preparation, filing, etc. Council discussion ensued regarding TIF district #3. Finance Director Iverson explained that she has budgeted conservatively on this revenue item as the market value was still uncertain. She indicated if the market value fell, the City would receive less money. Mayor Harpstead indicated it would be helpful as a newer member on the Council to receive a breakdown of the different TIF districts explaining their purpose and history . Finance Director Iverson stated she is working on this with Ehlers, and will bring back a recommendation on the districts to assist the Council in future decision making. Finance Director Iverson reviewed the EDA finances with the Council noting that there was a negative fund balance of$15,000 in the EDA fund at the end of2007. Mayor Harpstead indicated this line item should have funds available for the Council to use in the Council's role of the Economic Development Authority. Councilmember Holden asked several questions regarding the risk management funds. Finance Director Iverson stated these funds were set aside each year for insurance deductibles, etc. Councilmember McClung clarified that the Council agreed to pay 28% on the new ladder truck for the Fire Department and wanted to assure that the budget numbers reflected this expense. Finance Director Iverson stated she would make this adjustment.