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ARDEN HILLS CITY COUNCIL WORK SESSION - NOVEMBER 16. 2009 4 IA. Financial Planning and Analysis Committee Presentation (cont.) Finance Director Iverson stated that if the Council can approve afive-year CIP plan and if the long range analysis were completed, staff could provide more alternatives or options on future projects, similar to what Ehlers provided with the rate study. Mayor Harpstead asked if there were any further questions at this time. He felt the challenge of the Council would be to task the committee from time to time that would benefit the City while allowing them to use their expertise. B. 2010-2014 Capital Improvement Plan Finance Director Iverson presented the City Council with information on the 2010-2014 Capital Improvement Plan (CIP). She created a new book and noted that changes made since the last time it was discussed were highlighted within the document. Each department was present to discuss items in further detail if needed. City Administrator Moorse indicated the information included in the memo related to changes made to the document or additional information needed for upcoming projects within the CIP. Mayor Harpstead questioned what the Council would like to accomplish at this evenings meeting. Finance Director Iverson stated the goal would be to get a 2010-2014 CIP knowing that only 20 10 would go into the 2010 budget. This would allow the City to begin the financial planning and analysis on the fund balances for future projects. She explained this was a starting point to allow for future planning while monitoring the fund balances as these major projects are completed. Councilmember Holden felt it was difficult to shift gears in mid -race. She expressed concern about not knowing the cost of certain projects. Finance Director Iverson stated staff could focus on certain priorities to provide the Council additional information,, if needed. She noted that the CIP would change constantly going into the future.