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l � � .� a 4} r �3 c� �� �1 1� 1� ]� 1� Regular City Council Meeting — DRAFT Minutes Monday, April 23,2007 Page 31 Councilmember Pust suggested that each specific staff report of re- quest for Council action include a written fiscal analysis (i.e., initial cost, full cost to your department, as well as impacts to and with other departments, staff cost such as additional FTE's, vendor costs, ongo- ing maintenance costs, etc.) especially pertaining to new spending re- quests. Councilmember Pust observed that current practice is not consistent among and within departments; and suggested that it be- come a standardized practice, similar to that utilized by the state, but not as detailed. Councilmember Pust further suggested including actual expenditures throughout the year (monthly or quarterly) to factor those expendi- tures into requests for that year and following years. 1�� City Manager �VI�.�inen advised that staff was actively pursuing finan- 7� cial software system revisions to generate such a report, initially on a 1�i quarterly basis, with future plans for monthly reports, to provide a 1�� summary for Council review, particularly those funds or activities rep- ��] resenting greater sensitivities. Mr. Malinen sighted the OVAL as an � 1 example when it hasn't always met expectations, yet differentials in �� expenditures and revenue were not flagged in a timely manner. �� �� 2� 2� �� Mayor Klausing spoke in support of not relying on budget reserves, as addressed by Mr. Miller, while recognizing that serious implications may be realized while deviating from this practice and returning to adhering to policy. �� �� Mr. Miller noted specific areas where City assets needed to be shored ��] up for replacement at the end of their useful life; and necessary as- :31 sumptions to once again achieve sustainability for such maintenance. �� �� �� �� �6 �37 �� �9 Councilmember Roe concurred with 1VIr. Miller's assumptions. Councilmember Ihlan opined the need to phase those funding mecha- nisms back into the budget, unless there was a reorganization of re- serve funds. Councilmember Ihlan further opined the need to review and formalize reserve policies.