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Finance Commission Minutes <br />September 13, 2016 – Draft Minutes <br />Page 3 of 6 <br /> <br /> 92 <br />Commissioner Zeller reviewed the Information Technology Fund Reserve. He stated Roseville 93 <br />provides IT services to other municipalities and the revenue collected from this would show as a 94 <br />positive trend. In 2016 it appears to be leveling off at 50% of the operating budget. 95 <br /> 96 <br />Finance Director Miller stated there is a small amount of tax levy that goes into this fund for the 97 <br />City’s portion of the equipment but most of these funds are from other sources including 98 <br />partnering agencies and tower leases. He explained there are future capital needs to replace 99 <br />older network systems, replace switches, and fiber optic installation. The excess funds in this 100 <br />Reserve would be used for these capital needs. He explained the intent of this fund is to be used 101 <br />for equipment that has citywide implications. 102 <br /> 103 <br />Commissioner Zeller stated the License Center Fund has a large excess cash reserve. The intent 104 <br />was to use these excess funds to build a City owned License Facility in the future. 105 <br /> 106 <br />Finance Director Miller stated the City has been looking at properties that could house a city 107 <br />owned building. Long term the City is looking to have a City owned facility for the License 108 <br />Center if they stay in the License business but the City also sees these funds as providing 109 <br />financial relief to the City when needed. 110 <br /> 111 <br />Commissioner Zeller stated the Telecommunications Fund Reserve is revenue from the cable TV 112 <br />franchise. The Fund does have excess revenues. 113 <br /> 114 <br />Finance Director Miller stated starting in 2016 and in 2017 there is additional staff that will be 115 <br />brought on for the City’s communications and this will begin to lower the reserve balance. 116 <br />There are also equipment upgrades that will need to occur and this will continue to draw down 117 <br />the fund balance. He explained this is not a restricted fund but the City has designated it for the 118 <br />specific purpose of communication efforts including the broadcast of the City’s meetings. 119 <br /> 120 <br />Commissioner Zeller stated based on the Reserve balances the City is trending upward and the 121 <br />goal reserve balances for the last couple of years was less than the actual reserve balances. 122 <br /> 123 <br />Chair Schroeder suggested having these charts compiled and forwarded to the City Council for 124 <br />their review. 125 <br /> 126 <br />Chair Schroeder moved, Seconded by Commissioner Bachhuber, to provide a formal 127 <br />presentation of the reserve balances for the City Council. 128 <br /> 129 <br />Commissioner Zeller asked if they should include a narrative. 130 <br /> 131 <br />Chair Schroeder stated the graphs were self-explanatory. 132 <br /> 133 <br />Commissioner Harold suggested adding projected data based on the preliminary budget 134 <br />information. 135 <br /> 136 <br />Item 3: Attachment A