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FINANCE COMMITTEE CITY OF RAMSEY ANOKA COUNTY STATE OF MINNESOTA The Ramsey Finance Committee conducted a regular meeting on Tuesday May 8, 2001, at the Ramsey Fire Station Number II, 15050 Armstrong Boulevard NW, Ramsey, Milmesota. Members Present: Mayor Thomas Gamec Councilmember Susan E. Anderson Councilmember Patti Kurak Councilmember Terry Hendricksen Councilmember Gerald Zimmerman Also Present: City Administrator James E. Norman Finance Officer Diana Lund Assistant City Administrator Kim Moore-Sykes Director of Public Works/Fire Chief Dean Kapler Police Chief David Gustafson CALL TO ORDER Chairperson Hendriksen called the regular meeting of the Finance Committee to order at 6:30 CITIZEN INPUT There was none. COMMITTEE BUSINESS Case #1: Authorize Transfer of General Fund Revenues Finance Officer Lund stated that the City Council adopted a policy on February 22, 1994, known as the Excess Revenue Policy (Resolution #94-02-045 Establishing a Financial Policy for the Purpose of Allocation of Excess/Deficient General Fund Reserves). After meeting the fund balance requirements at year end, $30,823 remained as excess revenues to be transferred from the General Fund. Transfers from the General Fund would be made as such: Equipment Revolving Fund (10 %) $3,082.30 Facilities Construction Fund (40%) $12,329.20 Public Improvement Revolving Fund (50%) $15,411.50 Motion by Mayor Gamec, seconded by Councilmember Zimmerman, to recommend that City Council authorize the transfer of the General Fund Excess Revenues to the Equipment Revolving Fund, the Facilities Construction Fund and the Public Improvement Revolving Fund at the stated percentages. Finance Committee/May 8, 2001 Page 1 of 5