08/24/93 - Laserfiche WebLink

Home

State which required all cities to form these joint powers agreements or it would be the county's responsibility to have a watershed district. He included a letter from Curt Pearson, Attorney for the organization, outlining the amendments in the joint powers agreement. He stated he would like to bring back this draft joint powers agreement after Attorney Pearson has had a chance to comment on the amendments. With regard to the formula .for splitting up the fees, Mr. Jankowski has been told by the attorney that this formula isstandard for water management organizations. Consensus of the Committee was that this issue should be tabled to allow for review by Curt Pearson, Attorney for the WIVlO, followed with a review by City Attorney Goodrich. Case #6: Review Non.compliance of Anoka Area Ice Arena Association, Inc. with regard to Lawful Gambling Finance Officer Hart stated that that Anoka Area Ice Arena Association Inc. gambling organization was not in compliance with City Code at the time of this case writing. She stated she has now received the "packet of missing information" from the organization, however, there was no money included. She feels this indicates they are still in non- compliance with the City's Code. She stated this issue does not require any action by the Commission at this point and that she would bring back a recommendation following the charitable gambling information meeting. Case 07: Review Cash Flow Projections for Landfill Funds Finance Officer Hart stated that after September 1993, the City will no longer be receiving the tipping fee from the landfill. She stated that if the City continues to use the tipping fee as it is now, the funds would be completely depleted by 1999. She added that if there are any major Changes in the manner in which the cap on the SCORE County Reimbursement is calculated or in the charges for collection of recyclable materials, there would be a dramatic impact on these projections. With regard to the Landfill Trust Fund, monies will also ceas~ coming into this fund as of September 1993. $120,000 of interest earnings from this fundare dedicated to the Park Improvement Fund through 1995. As the projections indicate, at an average rate of return on our investments of 5%, there is a sufficient cash balance remaining after the park improvement allocations each year through the analysis period. It will be necessary to keep a minimum balance in this fund of $2,400,000 (with an annual average interest at no less than 5%) in order to meet our allocation to the Park Improvement Fund without dipping into the principal balance. Also from the landfill trust fund, it is projected to utilize $60,000 each year for 10 years as one source of funding for the planned Public Works/Police building project. It appears feasible to continue funding these items and maintain a balance of $2,400,000 in the fund. Ms. Hart explained that this case would be brought back to the policy setting meeting in September. Case O8: Charitable Gambling Cash Flow Projections Finance Officer Hart stated that with the current and future status of the City of Ramsey's Charitable Gambling Ordinance, she determined it would not be in the best interest to attempt to do a cash flows projection at this time. Consensu t of the Finance Committee was to table this case. Finance Committee/August 24, 1993 Page 3 of 4