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<br />LOWER RUM RIVER <br />APRIL 15, 1993 <br />CALL TO ORDER <br />ORGANIZATION <br />Chairman Jim Schrantz called the meeting to order at 8:30 <br />a.m. in the Committee Room of Anoka City Hall. <br />ROLL CALL <br />Members present were Jim Schrantz, Steve Jankowski, and John <br />Weaver. Ben Ferguson was absent. <br />Also present were Anoka alternate Ray Schultz and Deputy <br />Treasurer Jim Rnutson. <br />CONSIDERATION OF THE MINUTES <br />Motion was made by Weaver, seconded by Schrantz, to APPROVE <br />THE MARCH 18, 1993, MEETING MINUTES AS PRINTED. <br />3 ayes - 0 nayes. Motion carried. <br />TREASURER'S REPORT <br />Knutson presented the annual financial statement for fiscal <br />year 1992 ending January 31, 1993. He indicated 1992 was an <br />excellent year for the LRRWMO, ending with a cash balance of <br />approximately $16,232, up from $9,100 the previous year. The <br />majority of that cash balance was an unrestricted fund <br />balance. Knutson noted, however, that there are some <br />accounts payable outstanding, but estimated a total fiscal <br />year balance to be approximately $14,213. <br />In referring to the annual report, Rnutson indicated the <br />total 1992 revenue from assessments and permits was $18,600. <br />The majority of engineering fees were spent on permits <br />reviewed through this organization. Total expenses for <br />fiscal year 1992 was $12,482; $9,000 less than the budgeted <br />amount. <br />Jankowski requested an explanation for the increase in the <br />insurance expenditure between 1992 and 1993. Rnutson <br />explained this organization initially purchased its liability <br />insurance in October of 1991 which ran through January 31, <br />1992. The next premium payment was for a full year. Rnutson <br />also indicated the LRRWMO received a $100 refund from its <br />insurance carrier on its 1992 premium. <br />