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Regular City Council Meeting Monday, March 25,2019 Page 2 Nays: None. c. Days of Remembrance Proclamation Mayor Roe read the Days of Remembrance Proclamation and proclaimed April 2019 Days of Remembrance. Laliberte moved, Etten seconded, naming April 2019 Days of Remembrance in Roseville. Roll Call Ayes: Etten, Willmus, Laliberte, Groff and Roe. Nays: None. 6. Items Removed from Consent Agenda Recess Mayor Roe recessed the meeting at approximately 6:10 p.m., and reconvened at approximately 6:11 p.m. 7. Business Items a. Joint Meeting with Finance Commission Mayor Roe stated the members of the Finance Commission were with the City Council for the Annual Joint Meeting. Finance Commission Chair Schroeder indicated five members of the Commission were at the meeting. She introduced Commissioners Matt Harold, Ed Hodder, John Murray, Jack Reif. Commissioner Harold presented the Capital Improvement Plan review with the City Council. He indicated the Finance Commission is no longer recommending the three different levels of categories but are basically keeping the third level, which is the highest cost asset. What the Commission is recommending, is that any purchases of$500,000 or greater that are either a new asset for the City or is substantially changing the purpose of an existing asset, receive further scrutiny in the capital investment process. Commissioner Harold stated for these assets, the Commission is recommending two different pieces. The first includes a summary of the financial implications of the purchase which includes the description, a narrative of the reasoning behind why the purchase is being made, the cost, the funding sources, as well as where applicable, long-term financial information, such as impacts to the operating budget or potential impacts to the CIP or other long-range items. Commissioner Harold stated the second piece the Commission is recommending is basically a look back on previous large asset purchases the City has made.