HomeMy WebLinkAbout1996 11-14 FCMMINUTES OF THE PROCEEDINGS OF THE FINANCIAL COMMISSION
OF THE CITY OF BROOKLYN CENTER
NOVEMBER 14, 1996
CITY HALL, CONFERENCE ROOM B
CALL TO ORDER.
Acting Chair Ron Christensen called the meeting to order at 7:13 P.M. in Conference Room B.
ROLL CALL
Present at roll call were Commissioners: Ron Christensen, Lee Anderson, Jay Hruska, and Larry
Peterson. Also present were Council Member Kathleen Carmody, City Manager Michael
McCauley, and Finance Director Charlie Hansen. Chair Donn Escher was excused.
Commissioner Ned Storla was unexcused.
Approval of Minutes
A motion was made by Commissioner Jay Hruska to approve the minutes of the September 19,
1996 meeting. Commissioner Lee Anderson seconded the motion and all members voted in its
favor except for Commissioner Larry Peterson who abstained from voting.
Review of Capital Imnrove ents Fund Exnenditure Policy
Mike McCauley reported that the existing policy ties up about $3,200,000 with various
• restrictions. It may be preferable to make some of that money available to meet the City's current
needs for buildings. He suggested splitting it into two funds as follows:
a. Reserve fund for emergencies.
b. Capital improvements fund to meet city needs.
These include the current need for fire stations, the police station, and the city hall, and an
ongoing need to make improvements each year to the parks. The ongoing needs should scheduled
over a longer time period and an acceptable level of annual effort identified.
Ron Christensen asked if the capital improvement fund would be subdivided and dedicated by
parks, roads, etc. Mike McCauley responded that the only dedication would be in the budget.
Ron Christensen explained the existing policy to members who have come on the Financial
Commission since it was adopted and answered questions. The value of the policy as a guide to
City Council actions was discussed.
Larry Peterson expressed concern for the immediate use of any money that is freed up by
removing restrictions in the existing policy and asked about the rational behind the beginning
January 1, 1993 balance of $3,000,000.
Ron Christensen asked for more specific for the proposed policy changes and building plans.
. Kathleen Carmody asked for minutes from 1993 to understand the deliberations that went into the
existing policy. Jay Hruska asked that the Financial Commission receive copies of interim
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0 financial statements.
Next Meeting,
The next meeting will be Thursday, January 9, 1997 at 7:00 P.M.
ADJOURNMENT
Acting Chair Ron Christensen declared the meeting adjourned at 8:20 P.M.
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