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Motion by Councilmember Hardin and seconded by Councilmember Peterson to approve, in <br />concept, City Staff's suggestion and to allow staff to determine the amounts to charge based on <br />research. Staff will review this information with the Budget Committee at a subsequent meeting. <br /> <br />Motion carried. Voting Yes: Councilmembers Peterson, Hardin and Beyer. Voting No: None. <br /> <br />Case #4: Equipment Replacement Fund(s) <br /> <br />Finance Officer Helling stated that the City has not specifically addressed providing replacement <br />costs for buildings or park equipment/improvements. At the last meeting, the balances and status <br />of the landfill funds were discussed. Transferring the available balance to an equipment <br />replacement fund would reduce the Landfill Tipping Fee to a fund balance 100% restricted by <br />statute for the purpose of mitigating the negative impacts of the landfill. This transfer would <br />significantly reduce the unfunded liability of the Equipment Replacement Fund(s). She added that <br />to maintain the Tipping Fee Fund, future tipping fees should be allocated between those dollars that <br />are restricted versus those available for any purpose and credited to the appropriate funds within <br />the month of receipt. <br /> <br />Motion by Councilmember Beyer and seconded by Councilmember Hardin to recommend to the <br />Ramsey City Council that the City establish one Fixed Asset Replacement Fund and instruct the <br />Finance Officer to transfer the fund balance from the General Equipment Replacement Fund and <br />the Fire Department Equipment Replacement Fund to the Fixed Asset Replacement Fund and to <br />direct staff to draft a policy as to how these funds will be managed and disbursed. <br /> <br />Motion carried. Voting Yes: Councilmembers Peterson, Beyer and Hardin. Voting No: None. <br /> <br />Motion by Councilmember Hardin and seconded by Councilmember Beyer to recommend to the <br />Ramsey City Council that the Finance Officer be instructed to transfer the Landfill Fee Fund <br />Balance that is available for any general purpose (currently $458,114) to the Fixed Asset <br />Replacement Fund. <br /> <br />Motion carried. Voting Yes: Councilmembers Peterson, Hardin and Beyer. Voting No: None. <br /> <br />Motion by Councilmember Hardin and seconded by Councilmember Beyer to recommend to the <br />Ramsey City Council that the Finance Office be instructed to credit the general purpose portion of <br />future Tipping Fee payments to the Fixed Asset Replacement Fund until such time as the fund <br />balance meets the replacement requirements for the City's fixed assets. <br /> <br />Motion carried. Voting Yes: Councilmembers Peterson, Hardin and Beyer. Voting No: None. <br /> <br />Case #5: Tax Increment Financing Administrative Costs <br /> <br />Finance Officer Helling stated that she and the City Administrator attended a meeting at Anoka <br />County to discuss the charges in support of tax increment financing districts. She stated that <br />Anoka County included costs for staff, supplies and facilities in their total amount charged. <br /> <br />Case #6: G.O. Refunding Bonds <br /> <br />Finance Officer Helling stated that Springsted (the City's Financial Advisor) has reviewed the <br />status of outstanding debt and is proposing the City refund the G.O. Improvement Bonds, 1984 <br />and the G.O. Tax Increment, Series 1987A. The forecasted savings are based on a change in <br />interest rate. She stated that the City also has a number of improvement projects for which <br />assessments were certified in October, 1990. Mrs. Helling stated that a few months ago, the U.S. <br /> <br />Budget Committee/October 29, 1991 <br /> Page 3 of 4 <br /> <br /> <br />