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Each Committee member felt that several of the items that were previously going to the City Council as work session items should be discussed at the Finance Committee level as the duties so outlined in the work plan and then should be brought forward to the City Council as a resolution. This will free up City Councilmembers' time as well as work session time. "The Finance Committee needs to get back to what it should be doing ". Discussion ensued relating to the Finance Committee and its relationship to The COR project area. The question was asked whether it should be brought forward to the HRA for the establishment of an HRA Finance Committee. In relation to the City funding of projects in The COR area — example internal borrowing of City funds — Line Item #10 was drafted to add to the current "Duties of the Finance Duties" as such: Financial Issues that Overlap the City Council and the HRA related to Development Activities, such as, but not limited to, interfund transfers. Motion by Councilmember LeTourneau, seconded by Councilmember Riley to bring an amended resolution of Resolution #09 -08 -185 adding line #10, as stated above, to be adopted at the February 12, 2013 City Council meeting. Motion carried. All in favor. MAYOR / COUNCIL / STAFF INPUT Councilmember Riley stated he would be in favor of the Finance Committee meeting only once a month — and only more than that if there are very pressing issues. 6. ADJOURNMENT Consensus was to adjourn the meeting. The regular meeting of the Finance Committee adjourned at 6:02 p.m. Respectfully submitted, EST. Diana Lund Finance Director M. Thieling Clerk Minutes drafted by Diana Lund, Finance Director Finance Committee / January 22, 2013 Page 2 of 2