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City Council Staciy Sessian <br />DRAFT Min��es oi Mp�day, May 14, 2007 <br />Page l.9 <br />1 <br />2 Councilmember Rae ques�ioned i� it was appropriate to have that fund <br />3 (tax payer reserve fi.xnd} set aside anymore; or whether it no �onge� <br />4 serv�d a purpose; and spugh� �'uture discussion. <br />5 <br />5 <br />7 <br />S <br />9 <br />10 <br />11 <br />12 <br />13 <br />14 <br />Councz�member �hlan opined that, while she was happy to consider <br />codif cation of current polzcies, there was a whole set of policy ques- <br />�ions on what the City's reserv� policy should he ba�'ore they were af <br />firmed or clarified. <br />Ci�y Manager Ma�inen advised that sta�'�' would ask �he City Council <br />to consider and act on the f ve resolutions previously addressed; �hen <br />staff would return with additional infarmatian on the reserve poliey. <br />15 Mayo� Klausing asked Mr. Miller to provide him wi�h an e--mai1 of the <br />16 ehanges made from the origina� sta�f recommendations to the second <br />17 dxaft that inc�uded Couneil �ecommendatzons and comments. <br />18 <br />19 Additional discussion included Enterprise Funds; �equ�ncy af pay- <br />20 ment colleetions; and dis�inctions �ar genera� fund p�operty tax reve- <br />21 nues, and how both related to cash flaw considerations: <br />22 <br />23 Councilme�nber Ro� asked s�a�'�'to p:rov�de add�tzonal information and <br />24 lega� considerations regarding t�ansfers o� xes�rves be�ween Enter� <br />25 pri�e Fund; wh�ch o�'thase funds were dedicated funds; and legal �imi- <br />26 �ations and ramifieations of transferring �'unds. <br />27 <br />28 <br />29 <br />30 <br />31 <br />32 <br />33 <br />34 <br />35 <br />36 <br />37 <br />�8 <br />Mr. Miller advised thai staff would present �he five policy xesa�utions <br />at the May 2�, 2a07 Council meeting. <br />h. 2008 Budget — Discuss the Generai Direction �n the 2008 Bud�et <br />Mr. Mi�1er paresented a h�starical overview of the 2Q03 — 2007 budget <br />reductions and how it arela�ed to the 2408 Budget and beyond. Mr. <br />Mi��er sought C�ty Council direc�ion to s�aff on new programs, initia- <br />�ives ar areas of emphasis that they would Izke �o see �n �he City Man- <br />ager-recommended budget, current�y being prepared, and availab�e foar <br />presentation to the City Gounci� by mid-J�u�y. 1VIr. Miller not�d that <br />the C��ty Council would need to prepare a prelimina�-y budget and levy <br />