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Attachment B <br />Commissioner Hodder stated line 260, “Commissioner Hodder stated another what if we do <br />would be if get the funding then the graphs would change dramatically, and they then we could <br />look at reductions”. Line 417 should be changed to “Commissioner Hodder stated that his <br />concern is that we have been spending down the reserves since he has been on the Finance <br />Commission. He stated that they have been dipping down into the reserves and some Councils <br />may not be enlightened and could spend down more and create a situation where they destabilize <br />the City funding streams”. Line 421 should be changed to “Right now, they have sustainability, <br />if they get into a sweep situation or some new initiatives we could destabilize their funding <br />mechanisms. <br />Commissioner Hodder moved, seconded by Commissioner Reif to approve the August 16, 2018 <br />meeting minutes as amended. The motion carried unanimously. <br />Receive Finance Commission Recommendations Tracking Report <br />Finance Director Miller reviewed the Finance Commissions recent recommendations submitted <br />to the City Council. He noted there were not any changes since the last review. <br />Discussion on Establishing A Cash Reserve Fund <br />Vice-Chair McRoberts thought the Commission was comfortable with all of the wording that <br />was going to be used at the Joint Council Work Session. <br />Finance DirectorMiller indicated that was correct. He reviewed the additional piece of <br />information with the Commission. <br /> <br />Vice-Chair McRoberts stated on page 5, the reason why the Commission was concerned with the <br />Communications fund was because it dipped below $50,000. <br /> <br />Mr. Miller indicated that was correct. The fund stayed positive but became tight. <br /> <br />Vice-Chair McRoberts asked regarding the General Funds on page 3, it fell to 11% in 2017 and <br />this year it fell to a low of 6% without the Commission making any changesto it. <br /> <br />Mr. Miller stated at the last meeting the Commission left the General Fund alone, but it is getting <br />close. He reviewed the fund with the Commission and stated the fund stayed in the black,but it <br />was getting close to going red. He thought the discussion last month was 35-45% was still good <br />at this point. <br /> <br />Vice-Chair McRoberts asked if at the end of 2017 the General Fund budget was 35% then in <br />May 2018 the fund would have been at 3%. <br /> <br />Mr. Miller stated that was correct. <br /> <br />