Laserfiche WebLink
Motion carried. Voting Yes: Chairperson Elvig, and Councilmembers Zimmerman and <br />Zinmmrman. Voting No: None. <br /> <br />Case #2: <br /> <br />Introduce Ordinance Amending Chapter 3 and Repealing and Replacing <br />Section 3.40 Entitled "City Funds" <br /> <br />Finance Office Lund indicated the proposed ordinance repeals and replaces Section 3.40 entitled <br />"City Funds" to create the new Park Trust Fund. The ordinance incorporates all of the fimds the <br />City currently utilizes; it recommends the establishment of the new Park Trust Fund, dissolution <br />of outdated/closed funds and updated policies on existing funds. She questioned if the <br />committee would like Subd. 3, 5(b)(4) Potential User Fees to remain. <br /> <br />Chairperson Elvig indicated Subd. 3, 5(b)(4) Potential User Fees should remain. <br /> <br />Finance Officer Lund explained after the ordinance is adopted she will bring the policy back <br />before the committee. This new fund will be called the Park Trust Fund. The existing fund is <br />called the Park Improvement Trust Fund. <br /> <br />Counci hnember Zimmerman questioned if these titles are too similar. <br /> <br />Finance Officer Lund replied the names are similar, but they relate to two totally separate items. <br />The Park hnprovement Trust Fund is strictly related to developments and the park and trail fees <br />that come in fi'om the developments. <br /> <br />Chairperson Elvig stated he does not have a lot of concern with the names of the funds. He noted <br />the usc of the Park Trust Fund has been kept open and general at this point. The biggest thing is <br />to get some sort ora fund built up. <br /> <br />Motion by Chairperson Elvig, seconded by Councilmember Strommen, to recommend that the <br />City Council introduce an ordinance Amending Chapter 3 and repealing and replacing Section <br />3.40 entitled "City Funds". <br /> <br />Motion carried. Voting Yes: Chairperson Elvig, and Councilmembers Strommen and <br />Zimmerman. Voting No: None. <br /> <br />COMMITTEE INPUT <br /> <br />Chairperson Elvig directed staff to update the Committee regarding the billing issue with <br />Connexus at an upcoming meeting. <br /> <br />ADJOURNMENT <br /> <br />Motion by Councihnember Strommen, seconded by Councilmember Zimmerman, to adjourn the <br />meeting. <br /> <br />Finance Committee/August 24, 2004 <br /> Page 2 of 3 <br /> <br /> <br />