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Attachment A <br />Finance Commission Minutes <br />June 14, 2022 <br />Page 3 of 4 <br />91 would do a wide variety of things and report to the Public Works Director, him, and eventually <br />92 the City Council. He stated there would be a carefully thought-out work plan for this position, <br />93 noting that a lot of this is already being done through the internship and grants the City has <br />94 received over the years. <br />95 <br />96 Mr. Trudgeon reviewed the strategic use of reserves and grant funding with the Commission and <br />97 summarized the upcoming next steps. <br />98 <br />99 Chair Davies indicated there were a number of pages with funds where the ending fund balance <br />100 did not show up as the beginning fund balance for the next year. <br />101 <br />102 Ms. Pietrick indicated she will take a look at that. <br />103 <br />104 Commissioner Murray asked if inflationary costs go up will the amount be taken out of the Cash <br />105 Reserve fund. <br />106 <br />107 Mr. Trudgeon indicated the City would for fuel, specifically. <br />108 <br />109 Commissioner Murray asked if money would be taken out for other things as well. <br />110 <br />111 Mr. Trudgeon explained that typically that is what drives the levy increase. <br />112 <br />113 Commissioner Murray explained this is not going to be a normal year and there will be a lot of <br />114 inflationary costs and he wondered how the City is going to cover them. <br />115 <br />116 Mr. Trudgeon explained staff is using a combination of levy increases as well as using grant <br />117 dollars and the use of reserves where they can to help soften that blow for this year, knowing that <br />118 grants run out. <br />119 <br />120 Chair Davies indicated the City cannot do a levy increase for this year. <br />121 <br />122 Ms. Pietrick indicated that was correct. <br />123 <br />124 Mr. Trudgeon explained for this year the levy is set. Staff will have to reconcile that budget at <br />125 the end of the year and if over budget, a budget amendment can be made that uses reserves. <br />126 <br />127 Commissioner Murray wondered how big the CityÓs reserves were now. <br />128 <br />129 Mr. Trudgeon explained the General Fund sits at around $8 to $9 million dollars. <br />130 <br />131 Chair Davies noted that the General Fund is up $2.5 million since 2019. <br />132 <br />133 Ms. Pietrick explained that was intentional because prior to 2019, the City used reserves to cover <br />134 operations and the General Fund itself was below the 35 percent minimum. <br />135 <br /> <br />