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A summary report for you and the City Council is included in your packet. <br />Staff will provide an overview of this information at the meeting. <br />Requested Commission Action: Discuss and provide any thoughts, advice and <br />guidance on next steps. <br /> <br />6. Discuss Joint Meeting with the City Council on Monday June 17, 2019 <br />Your annual joint meeting with the City Council is confirmed for Monday June 17, <br />2019 as part of the regular City Council agenda. <br /> <br />A typical Request for City Council Action (RCA) is in your packet for you to review. <br /> <br />You will have your Tuesday, June 4 meeting to prepare and finalize the RCA and <br />approach, as you are comfortable. <br />Requested Commission Action: Confirm calendars. Begin discussion on <br />formulating topics for agenda and approach. <br /> <br />7. Primer Update – Definition of Cash Reserves <br />Last meeting you discussed cash reserves/cash carry over funds. Commissioner <br />O’Brien suggested that this term be defined in your Primer. Below is what Nancy <br />outlined and suggested for the definition. Please review and be prepared to confirm, <br />adjust or other. THANKS for your work Nancy! <br /> <br />Cash Reserves are funds that are held and carried over for future use. They are <br />necessary to provide for cash flow in between revenue collection periods as well <br />as unanticipated expenses. Reserves are also used to provide up-front monies <br />for new initiatives and program enhancements, and to stabilize programs during <br />periods of declining revenues. <br />Roseville has a policy that sets the target level of what the cash reserve amount <br />should be for the city as well as various departments. The target level is given as <br />a percentage of the Operating Budget. For instance, the target level for the city is <br />to have cash reserves between a low of 35% and a high of 45% of the Operating <br />Budget. <br />Annual budget surpluses and deficits affect the amount of cash reserves <br />available for each department. If the surplus or deficit brings the cash reserve <br />level above or below the targeted percentage, the City Council will consider what <br />to do about this at budget time. <br />Requested Commission Action: Review, discuss and make recommendation. <br /> <br />8. Staff Report <br />a. Ongoing Topic of City Legislative Priorities Update <br />i. Guidant John Rose Minnesota OVAL Capital Bonding Bill <br />(HF1345/SF 1486) <br />3 <br /> <br />