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I I$ I I I I I I I I I I I I I I I I FINANCE COMMITTEE CITY OF RAMSEY ANOKA COUNTY STATE OF MINNESOTA The Ramsey Finance Committee conducted a regular meeting on Tuesday, July 27, 1993 at the Ramsey Municipal Center, 15153 Nowthen Boulevard N.W., Ramsey, Minnesota. Members Present: Members Absent: Mayor James Cdlbertson Councilmember Sheila Beyer Councilmember Ken Peterson Councilmember Gerald Zimmm Councilmember Glen Hardin Also Present: City Administrator Ryan Schroeder Finance Officer Jessie Hart Police Chief Michael Auspos Environmental Specialist Bruce Bacon Project Manager James Gromberg CALL TO ORDER Councilmember Peterson called the regular meeting of the Finance Committee to order at 6:05 p.m. CITIZEN INPUT None CONSENT AGENDA Motion by Mayor Gilbertson and seconded by Councilmember Beyer to approve the following items on the Consent Agenda: 1) Receive 1992 Financial Statements Motion carried. Voting Yes: Mayor Gilbertson, Councilmembers Beyer, Peterson and Zimmerman. Voting No: None. Absent: CouncilmemberHardin. APPROVE AGENDA Consensus was to approve the agenda as presented. COMMITTEE BUSINESS Case #I: Status of Equipment Replacement Funds Finance Officer Hart stated that in the past, equipment replacement funds were established for the purposes of funding furore equipment purchases. The City of Ramsey has an 80% fund but no policies on spending. She felt strategies have to be developed to maintain and build this fund. She suggested a couple of options for a policy development: 1) Implement a policy whereby only a specified percent of replacement cost, not to exceed the original cost, will be funded from the Equipment Replacement Fund with the remainder of Finance Committee/July 27, 1993 Page 1 of 6