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LOWER RUM RIVER WATERSHED MANAGEMENT ORGANIZATION JANUARY 19, 1995 CALL TO ORDER Chairman Steve Jankowski called the meeting to order at 8:35 a.m. in the Committee Room of Anoka City Hall. ROLL CALL Voting members present were Steve Jankowski, Ramsey; Ben Ferguson, Coon Rapids; Todd Haas, Andover; and John Weaver (arrived at 8:49 a.m.), Anoka. Absent: None. Also present was Ray Schultz, Anoka Alternate. CONSIDERATION OF THE MINUTES Motion was made by Haas, seconded by Ferguson, to approve the December 15, 1994, regular meeting minutes as presented. Vote: 4 ayes, 0 nays. Motion carried. TREASURER'S REPORT Knutson presented the Treasurer's Report for the period ending December 31, 1994. Account balances for the period were: Checking, $10.00; interest bearing savings account, $2,735.84, less permit account balance of ($6,249.71), for a total available savings account balance of ($3,513.87); and certificates of deposit totaling $32,000.00; for a current total balance of $34,745.84. Knutson pointed out that Ban Engineering has submitted invoices through November, 1994, so there aze still two months of engineering from the 1994 budget. It was noted that the majority of the existing cash balance will be used for the Plan update in 1995. Motion was made by Ferguson, seconded by Haas, to accept the Treasurer's Report for the period ending December 31, 1994. Vote: 4 ayes, 0 nays. Motion carried. Weaver arrived at 8:49 a.m. Banking_Options Knutson reviewed that at the last meeting, the LRRWMO asked him to investigate different investment options. He advised that the local First Bank does offer the 4M Fund with a checking option where they pay all the fees involved plus monthly interest on the balance. He reviewed the process used by the bank to invest these funds and recommended the LRRWMO pursue this option.