HomeMy WebLinkAbout2010 06-07 FCM A3r
Financial Commission
Regular Meeting Minutes
7 June 2010
1. Call to Order
The meeting was called to order at 8:00 PM following a Joint Work Session with the City
Council
Members Present: Commissioners Newman, Shogren-Smith, Berglin, Landis and Schueller
and Council Member Ryan. Staff present were City Manger Boganey and Director of Fiscal &
Support Services Jordet.
2. Agenda
Commissioners introduced themselves to one another.
3. Minutes
Action on the Minutes of the 30 March 2010 meeting was tabled until a future meeting
4. City Financial Condition
Mr. Jordet briefly reviewed the status of the 2010 budget as of 30 April 2010.
5. 2010 Budget Status
Mr. Jordet reviewed the changes adopted by the City Council at their 10 May 2010 regular
meeting adopting an amended budget for the 2010 fiscal year. The State of Minnesota
reduction of Local Government Aid to Brooklyn Center as a budget balancing strategy left
the $ 411,544 of Local Government Aid intact but reduced Market Value Homestead Credit
reimbursement by $ 504,022 leaving a gap between revenues and expenditures.
6. Discussion of City Reliance on State Aid
The City Council has asked that the Financial Commission review the budgeting for and use
of State operational aid in light of its volatility in recent years and assist in developing a
response to the situation. After some considerable discussion two points emerged as the
questions that could be answered to address this situation; How much of the General Fund
should be comprised of State aid dollars, either in percentage terms or dollar terms? If the
City receives more than the budgeted amount of State aid, how should it be used?
7. Other Business
A brief discussion of the merits of having the City contract with a single refuse hauler
occurred.
8. Adjournment
With no other business to transact, the meeting was adjourned at 8:43 PM.
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