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the cost being funded through other sources such as current revenues; or 2) Implement a policy whereby only a specified percent of replacement cost, not to exceed the original cost and not to exceed the previous years actual or current years forecasted interest earnings, will be funded from the Equipment Replacement Fund with the remainder of the cost being funded through other sources such as current revenues. Councilmember Peterson felt the replacement fund should be funded to a certain degree each year. Mayor Gilbertson commented that there will be no tipping fees to fall back on now either. Councilmember Beyer questioned ff a minimum should be kept in the fund. Councilmember Zimmerman suggested a percentage such as 75%. Ms. Hart thought that 75% might be high and that 50% would be a better number. City Administrator Schroeder stated that we could start with 50% and see what the impact is. He suggested that a dollar amount could also be set. Ms. Hart stated there would be a restriction on funding a piece of equipment even if the fund contains the whole amount The Committee directed Staff to develop and present a "Financial Policy" for the management of the Equipment Replacement Fund and the Fire Equipment Replacement Fund, to be presented to the Finance Committee and then forwarded to the City Council for adoption. Case#2: 1993 Business Expo Project Manager Oromberg stated that the 1993 Business Expo has been scheduled for October 17, 1993 and the Economic Development Commission is requesting a $2,000 donation from the City. These fund will be used for advertising and promoting the Expo. The remaining balance will be returned to the City as in the past years. Motion by Councilmember Beyer and seconded by Councilmember Zimmerman to recommend City Council adopt the resolution appropriating Two Thousand Dollars ($2,000) for the 1993 Business Expo. Motion carried. Voting Yes: Mayor Gilbertson, Councilmembers Beyer, Zimmerman and Peterson. Voting No: None. Absent: CouncilmemberHardin. Case #3: Report Regarding Sewer Availability Charge Review on 6740 Highway #10; Bill Dubats Property Finance Officer Hart stated that the property located at 6740 Highway #10 is owned by Bill Dubats (Lakeview Development Company) and is utilized as office space. Mr. Dubats changed the use of the property from a daycare with 64 children to an office complex, which necessitated filing a SAC adjustment form with the Metropolitan Waste Control Commission (MWCC). The original determination was approved by the MWCC in October 1988 at five SAC units. It is believed that the SAC charges paid at that time were approximately $2,750 for the five units. Based on the change in use, the new SAC number would be two units. Mr. Dubats has inquired as to this change and feels that he as property owner is entitled to a refund of the three units. Ms. Hart stated that past practice of the City Finance Committee/July 27, 1993 Page 2 of 6