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CC_Minutes_2018_0924
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Roseville City Council
Document Type
Council Minutes
Meeting Date
9/24/2018
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Regular City Council Meeting <br /> Monday, September 24, 2018 <br /> Page 17 <br /> Nays: None. <br /> Etten moved, McGehee seconded, adoption of Resolution No. 11536 (Attachment <br /> C) entitled, "Resolution Adopting the Preliminary 2019 Annual Budget for the <br /> City of Roseville." <br /> Roll Call <br /> Ayes: Willmus, Laliberte, Etten, McGehee and Roe. <br /> Nays: None. <br /> Councilmember Laliberte thanked residents who sent e-mails, filled out the sur- <br /> vey cards, and gave the City their input. She thought it was an important step in <br /> their process and the feedback was good. <br /> g. Consider Adopting a Revised Operating Fund Reserve Policy <br /> Finance Director Chris Miller briefly highlighted this item as detailed in the RCA <br /> and related attachments dated September 24, 2018. <br /> Councilmember Etten stated in regard to the Communications Fund, bringing it <br /> up from 25% to 30% or even up to 35%is meant to almost shield it from the poli- <br /> cy the Council and staff were talking about a week ago as far as taking something <br /> above the recommended target and pulling it into the General Fund. <br /> Mr. Miller stated that was correct. When staff looked at the actual cash flow <br /> needs the last couple of years, 25% was real close to going negative in the fund <br /> throughout the year so moving the percentage to 35% gives a little more cushion <br /> so the City doesn't run into the red throughout the fiscal year then as the Council <br /> contemplates one of the Finance Commissions other recommendations of sweep- <br /> ing an amount above and beyond the 30%. <br /> Councilmember Etten wondered that if staff is concerned about going into the <br /> negative with 10%to 25%, should the floor be raised as well. <br /> Mayor Roe thought the City should be more concerned about the 10% floor. <br /> Councilmember Etten stated he would be more comfortable doing 20%, and pos- <br /> sibly even moving the ceiling upto 35%, but certainly 20% as the bottom and not <br /> 10%. <br /> Councilmember Willmus asked from where the percentages were derived, where <br /> did the floor of 10% come from. <br />
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