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• Regular City Council Meeting Monday,April 18,2011 Page 11 a. Consider Request by Michels Pipe Service to Extend Working Hours for the 2011 Sanitary Sewer Lining Project McGehee moved, Willmus seconded, approval of a variance request by Michels Pipe Service to extend working hours for the 2011 Sanitary Sewer Lining Project at various locations throughout the City, as detailed in the RCA dated April 18, 2011; in order to facilitate completion of their work and disruption and inconve- nience to property owners and area traffic during low-flow periods, during the month of May, over a period of eight (8) nights, anticipating that each segment should be completed in one to two nights of work. Roll Call Ayes: Willmus; McGehee; Pust; Johnson; and Roe. Nays: None. 13. Business Items—Presentations/Discussions (continued) a. Adopt a Resolution Approving the City's Financial and Budget-related Poli- cies Finance Director Chris Miller provided brief introductory comments, noting that the City currently had six (6) historical policies in place applicable to financial and budget-related items, as detailed in the RCA dated April 18, 2011. Mr. Miller suggested that, given several new Councilmembers, it may be time to review those policies; and brought several minor corrections and updates from a house- keeping standpoint: • Page 4, Line 96, typographical correction: "its" • Page 6, Line 146: change from a ten (10) year to a twenty (20) year Capital Improvement Plan (CIP) • Page 6, Line 167: change CIP years City Manager Malinen noted that, while the CIP Task Force may be considering recommending that the CIP from ten (10) to twenty (20) years, the full City Council had yet to approve that extension. Councilmember Johnson, as a member of the CIP Task Force, concurred. Page 11, Line 326 Councilmember Willmus noted frequent discussions related to General Fund re- serves, and past budget presentations had been consistent in the City's inability to meet that 50% reserve goal. Councilmember Willmus questioned actual reserve percentages over the last few budget cycles; and whether it made sense to reduce the current goal. Councilmember Willmus sought advantages and disadvantages in considering such a reduction; as well as comparison reserve fund policies of other metropolitan communities.