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RDEN HILLS CITY COUNCIL WORK SESSION - NOVEMBER 16, 2009 3 IA. Financial Planning and Analysis Committee Presentation (cont.) Arlene Mitchell further reviewed debt concepts with the Council and indicated the committee could provide debt options versus the use of cash reserves. She explained the committee existed to provide additional information and research for the Council. Councilmember McClung thanked the committee for their information and indicated the committee could also assist the City by reviewing the public safety contracts as well, due to the fact they were the largest increases in the budget year after year. Finance Director Iverson indicated that this would change the focus of the committee as this fell under the operating budget and that the Council would need to amend the Ordinance stating committee objectives. Councilmember Grant questioned how the finances would be handled once the TIF district were completed or expanded. Finance Director Iverson indicated Cottage Villas would get their last TIF payment and that the money would then accumulate to be used if the City chose to use it on another project. If the funds were not used on another project the funds would be sent back to the county to be redistributed. She further explained how the various TIF districts have operated in the past throughout the City. Mayor Harpstead asked for suggestions or ideas for the committee at this time. Finance Director Iverson stated if the Council was looking long range, public safety contracts could be reviewed to provide comment on the financial obligations. Councilmember Holden questioned if the TCAAP financial plan needed to be made more formal. Finance Director Iverson indicated these plans have not been brought to the City to date.' but that the TIF documents were in place. Mayor Harpstead explained the frame of the committee's evaluation criteria would be to focus on fund balances and the flexibility that could be created.