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FINANCE COMMITTEE <br />CITY OF RAMSEY <br />ANOKA COUNTY <br />STATE OF MINNESOTA <br /> <br />The Finance Committee conducted a regular meeting on Tuesday, April 11, 2006, at the Ramsey <br />Fire Station Number 1, 15050 Nowthen Boulevard, NW, Ramsey, Minnesota. <br /> <br />Members Present: <br /> <br />Chairperson Sarah Strommen <br />Councilmember David Elvig <br />Mayor Thomas Gamec (altemate) <br /> <br />Members Absent: <br /> <br />Councilmember David Jeffrey <br /> <br />Also Present: <br /> <br />City Administrator James E. Norman <br />Finance Officer Diana Lund <br />Vem Haegg, HSP & Associates <br /> <br />CALL TO ORDER <br /> <br />Chairperson Strommen called the regular meeting of the Finance Committee to order at 6:05 p.m. <br />CITIZEN INPUT <br /> <br />There was none. <br /> <br />APPROVE AGENDA <br /> <br />Motion by Councilmember Elvig, seconded by Mayor Gamec, to approve the agenda as <br />submitted. <br /> <br />Motion carded. Voting Yes: Chairperson Strommen, Councilmembers Elvig and Mayor <br />Gamec. Voting No: None. Absent: Councilmember Jeffrey. <br /> <br />COMMITTEE BUSINESS <br /> <br />Case #1: Authorize Transfer of General Fund Revenues <br /> <br />Finance Officer Lurid reviewed that the Excess Revenue Policy states after meeting the fund <br />balance requirements at year end, excess revenues are to be transferred from the General Fund as <br />follows: Equipment Revolving Fund - 10%; Facilities Construction Fund - 40%; Public <br />Improvement Revolving Fund - 40%; Park Trust Fund - 10%. Ms. Lund explained during 2005, <br />two street assessment projects were brought forward to City Council, St. Francis Boulevard and <br />Welcome's Road, with a portion of their costs to he funded from the General Fund. It is being <br />requested that the necessary funding be obtained from the 2005 excess revenue balance. Ms. <br /> <br />Finance Committee / April 11, 2006 <br /> Page 1 of 5 <br /> <br /> <br />