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LRRWMO Meeting Minutes July 17, 1991 Page 2 Consideration of the 1992 Budget Erickson provided members with a rough draft of the new valuations, received from the Anoka County Assessor's office, which will determine each city's membership dues. Schrantz recalled the valuations were determined by using the cities' total value plus tax increment financing in order to put everyone on an equal basis. The valuation percentages are: Andover, 29.5 per cent; Anoka, 27.85 per cent; Ramsey, 42.05 per cent; and Coon Rapids, 0.6 per cent. A final valuations copy will be provided at a future meeting. Budget discussion followed. Schrantz indicated next year's budget should include funds to cover lake monitoring expenses. Erickson reported he checked with the Six Cities Watershed organization with regard to what they pay in liability insurance and found it pays approximately $3,000 per year, which includes coverage for its private consultants. Schrantz reported LRRWMO information has been provided to Risk Management for its evaluation and determination of costs which would be incurred by this board in its purchase of liability insurance. Although we await Risk Management's response, Schrantz recommended this board budget a minimum of $1,000 for insurance coverage. Weaver felt members of this board should attempt to find a legislator to assist us in allowing this board and its members to carry insurance through their individual municipalities. Weaver concurred we need to budget for the insurance, but added this board must continue researching for adequate, affordable coverage. Erickson concurred. The 1992 budgeting process for each line item was .discussed and determined to be as follows: ENGINEERING - Permit, $1,000.00; Administration, $800.00; Commission Meetings, $1,500.00; Surveys and Studies, $1,000.00; Management Plan, $1,000.00; and Miscellaneous, $1,000.00, for an Engineering total of $6,300.00. (Jankowski arrived at 9:25 a.m.) MISCELLANEOUS - Legal, $3,500.00, Audit and Bonding, $500.00, Professional Services, $1,700.00, Postage, Copying, etc., $400.00; Newsletter, $1,000.00; Insurance, $3,000.00; Travel and Annual Meeting, $200.00; and Contingencies, $1,000.00; for a Miscellaneous total of $11,300.00; and a Grand Total of $17,600.00.