HomeMy WebLinkAbout08-11-09 FPAC packetChair
Scott Bronson
1245 W. Highway 96
Committee Members
HILLS
Arden Hills, MN 55112
Maurice Gieske
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651.792.7800
(Vacant Seat)
Arden Hills
www.ci.arden-hills.mn.us
Jeff Johnson
James Ostlund
(Vacant Seat)
Financial Planning and
Council Liaison
Analysis Committee
Stan Harpstead
August 11, 2009
City Vision
A strong community that values our unique environment, our fiscal soundness,
and our tradition as a desirable city in which to live, work, and play.
Agenda
Regular Committee Meeting Convenes 6:00 PM
Call to Order
1. APPROVAL OF THE AGENDA
2. MINUTES
A. June 9, 2009 -Regular Meeting
3. UNFINISHED AND NEW BUSINESS
A. 2010 Capital Improvement Plan and funding strategies
4. REPORTS
A. Report from the City Council
B. Financial Planning and Analysis Committee Comments and Requests
5. ADJOURNMENT
A quorum of the City Council may be present at this meeting.
MINUTES
I't
,iIPEN HILLS
FINANCIAL PLANNING & ANALYSIS COMMITTEE
Wednesday, June 9, 2009
6:00 P.M.
Second Level Conference Room, Arden Hills City Hall
CALL MEETING TO ORDER AND ROLL CALL
The meeting was called to order by Scott Bronson at 6:04 pm.
MEMBERS PRESENT: Scott Bronson; Maurice Gieske; Stan Harpstead, Council
Liaison; Jim Ostlund
MEMBERS NOT PRESENT: Jeff Johnson
OTHERS PRESENT: Sue Iverson, City of Arden Hills finance Director; Mark Kelliher;
Arlene Mitchell, Communication Committee Memb oe Rueb, City of Arden Hills
Accounting Analyst
Call to Order
1. APPROVAL OF THE AGENDA
Motioned: Jim Ostlund
Seconded: Maurice Gieske
2. APPROVAL OF APRIL 15 UTES
Motioned: Jim Ostlund
Seconded: Maurice Giesk
3. UNFINISHED AN E z S ESS
A. Finalize Investm oli
Finance Director Ive reviewed changes and recommendations presented
by the committee as well as her own changes.
Motion to recommend to Council.
Motion: Maurice Gieske
Seconded: Jim Ostlund
B. Arbitrage and Post Issuance Compliance Policy and Procedures
Add date and signature line. Sue should contact Steve Bubul regarding
compliance. May want to re -word last paragraph to read "may require" not
"require" a trustee. Sue will check with Presbeterian Homes to ensure we are
in compliance with our reports. Does the City have auditing rights?
Motion to make changes discussed and have reviewed by City attorney.
Motion: Jim Ostlund
MCity of Arden Hills
1245 West Highway 96 • Arden Hills Minnesota 55112
Phone 651.792.7800 • Fax 651.634.5137
www.c i-arden-hills.mn.us
Chair Initial
F. Director Initial
MINUTES
lt
,ARENHILLS
Seconded: Maurice Gieske
C. Future Meetings
No regular July meeting. Scott will not be at the Joint Committee Meeting.
Jim will be the committee representative.
At the August meeting the committee will discuss the Capital Improvement
Plan (CIP) as well as stategies and recommendations.
4. REPORTS
A. Report from the City Council
Mayor Harpstead provided an update on previous Council actions and
activities.
B. Financial Planning and Analysis Commi e Comments and Requests
NEXT MEETING — Tuesday, August 11, 2009
5. ADJOURNMENTS
Motioned: Jim Ostlund ,
Susan K. Iverson, Finance Director
• City of Arden Hills
1245 West Highway 96 • Arden Hills Minnesota 55112
Phone 651.792.7800 • Fax 651.634.5137
www.ei.arden-hills.mn.us
Chair Initial
F. Director Initial
0 It',
-fiAZEN HILLS
MEMORANDUM
DATE: August 7, 2009
TO: Financial Planning and Analysis Committee
FROM: Sue Iverson, Finance Director
SUBJECT: 2010 — 2014 Capital Improvement Plan
BACKGROUND
As part of the 2010 budget process, a five-year capital improvement plan is prepared. City Council and
•staff have been working on the current plan over the last several months. Further discussions will be held
at the August City Council Worksession as part of the 2010 Budget process.
DISCUSSION
The attached document is the preliminary plan that was given to the City Council at their July
Worksession. Discussions on this plan began at the July meeting, but based on Council feedback and
requests, discussions are scheduled to continue at their August Worksession. Staff has been working to
change the document from a spreadsheet to an actual plan document that includes project details, funding,
and justifications. Please note that we have only begun to fill in all the data to complete this document
and that it is a work -in -process. As we have not finished Council discussions, this plan is not yet
finalized.
Staff is also working on the 2010 Operating Budgets, but do not yet have a preliminary copy completed at
this time. We hope to have the preliminary plan completed before the meeting next Tuesday so that we
can incorporate these numbers into the funding numbers and fund balances. We are still awaiting
numbers from the State Department of Revenue and other agencies in order to complete these numbers.
These estimates are then used to prepare a long-range financial plan to look at appropriate fund balances
and funding strategies.
As staff is currently working on the 2010 Operating Budget and Council directed changes to the Capital
Improvement Plan from the preliminary discussions, we will bring these updates and a preliminary long-
range financial plan to the meeting on Tuesday for discussions.
• ACTION
No action required. Informational information for purposes of discussion.
\\Metro-inet\ardenhills\Admin\Committees & CommissionsTPA08-11-09-C1P Plan.doc