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Attachment B Commissioner discussion ensued regarding funds and income derived from them. Chair Schroeder stated this item is one they have previously recommended without changes to the recommendation, so they do not need to do anything further. Park Improvement Fund Commissioner Harold reviewed the Park Improvement Fund scenarios. There were not any changes to the recommendation. Discuss Recommendations on Establishing A Cash Reserve Fund Finance Director Miller stated over the past eighteen months, the Finance Commission has held a number or discussions regarding the establishment of a Cash Reserve Fund. The Commission provided some preliminary feedback on those discussions to the City Council at the joint City Council-Finance Commission on September 18, 2017. After receiving the Commission’s preliminary feedback, the Council directed the Commission to continue working on this matter. Mr. Miller indicated throughout these conversations, two primary benefits have been expressed regarding the creation of a Cash Reserve Fund. They include: Having a simpler display of the amount of excess monies within our discretionary operating funds above and beyond what is needed for cash-flow purposes or for meeting the capital replacement needs. Knowing the amount of available funds for future purposes such as property tax relief or new programs or initiatives. Mr. Miller reviewed the information with the Commission and stated as the Commission reflects on the amount of cash reserve the City should maintain, and whether to create a separate Cash Reserve Fund, it is suggested that the considerations discussed be considered.He stated strong levels of cash reserves play a critical role in ensuring that the City’s bond ratingremains at the AAA category. A rating decline to AA, would have resulted in an estimated $500,000 in additional interest costs for the bonds recently issued to finance the Park Renewal Program and the new Fire Station. There was Commission discussion regarding the Communications Fund and impactby residents “cutting the cord” for cableTV along with other funds. Mr. Miller noted that strong reserve funds help through recessions and rough economic times.