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• LRRWMO Meeting Minutes July 17, 1997 Page 2 Administrative Secretary was asked to revise the Addendum to indicate an expiration of January 31, 2000. The revised Addendum will be considered at the August 21, 1997 meeting.) Weaver noted that in looking at the 1997 budget for the current year, including a $10,000 assessment to member cities, a projection would indicate no deficit this yeaz. He commented it maybe premature to consider budgeting a larger deficit since it appears the LRRWMO will live within its 1997 budget even though. a $7,700 deficit was projected. Knutson commented on the positive impact from the number of grants which were applied for and received which resulted in an increase to reserves ($20,000 to $21,000). Weaver pointed out the anticipated budget for legal, administrative, and engineering expenses which have not been used each year, resulting in building a reserve. He noted this has been possible because the attomey is not attending monthly meetings and engineering expenses aze being charged back to the pernvttee. In addition, almost $3,000 per year is being earned in interest. Knutson inquired if the projects included. in the Plan implementation will result in the need for • increased assessments or be paid from the fund balance. Jankowski stated he believes the projects for the first several years can be funded from reserves. He suggested revising the engineering and legal budgets to more accurately reflect the costs being incurred. Discussion occurred regazding whether the attomey will be involved in review of the Plan, once adopted. It was noted the attorney may be involved with updating the joint powers agreement (in the future) but the Plan should be somewhat of a "boiler plate" document and not require additional legal review. Weaver inquired regarding the purpose of this drag. Knutson stated it is intended to start discussion with member cities so the assessment can be included in their individual budget. Weaver asked if the administrative, legal and engineering amounts aze reduced, would the revenue side also be equally adjusted. Jankowski stated it could be used, to some degree, to offset assessments. Ottensmann stated he agrees those line items could be reduced which will result in the assessments also being reduced. Knutson stated the costs for Plan implementation need to be known since it could substantially change the fund balance over the next few years. Weaver concurred this issue needs to be addressed since once the Plan is adopted, the LRRWMO is committed to complete those projects. • Jankowski proposed the line items be adjusted to be consistent with expenses experienced and the deficit be reduced by a nominal amoum ($10,000). Knutson stated once the amount is known for Plan implementation, the Boazd needs to be comfortable with the remaining net operational surplus. Weaver stated it appears the assessment to the cities will not be increased for 1998. Knutson explained how the property evaluation may impact the level of the assessment.