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FINANCE COMMITTEE CITY OF RAMSEY ANOKA COUNTY STATE OF MINNESOTA The Ramsey Finance Committee conducted a regular meeting on Tuesday, March 28, 1995, at the Ramsey Municipal Center, 15153 Nowthen Boulevard N.W., Ramsey, Minnesota. Members Present: Mayor Glen Hardin Councilmember Carolyn Beahen Councilmember Sheila Beyer Councilmember Kenneth Peterson Councilmember Gerald Zimmerman Also Present: City Administrator Ryan Schroeder Finance Officer Jessie Hart CALL TO ORDER Councilmember Peterson called the regular Finance Committee to order at 6:30 p.m. CITIZEN INPUT None CONSENT AGENDA None APPROVE AGENDA Consensus was to approve the agenda as presented COMMITTEE BUSINESS: Case #1: Review 12/31/94 Unaudited General Fund Financial Report Finance Officer Hart stated that what is being presented is the unaudited General Fund Financial Report, however, the audit is nearly finished, and she did not anticipate any of the numbers to change. She explained that the Actual Year-to-Date 1994 column reflects all activity for 1994, including accruals for receivables and payables as of the end of the year. The Budget 1994 column reflects the Adopted 1994 General Fund Budget with several changes reflective of budget amendments adopted during 1994 and other budget amendments which will be recommended by resolution at a meeting in the near future, based on actual 1994 activity. Ms. Hart summarized revenues, expenditures and transfers from and to other funds, the net effect of which resulted in an excess for 1994 of $74,446. This is compared to an excess of $68,185 for 1993. This excess increases the total General Fund fund balance to $1,875,420, although this amount will change based on the Excess Revenue Policy adopted for fiscal 1993 forward. Ms. Hart stated that updated information will be distributed once the final information is compiled and the audit is complete. No Committee action required. Finance Committee/March 28, 1995 Page 1 of 3