03-03-2008 City Council Minutes - Laserfiche WebLink

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City Council Minutes March 3, 2008 Page 7 of 9 noted that this officer is taking the place of Holly Ailts who has resigned her position as part time police officer. COUNCIL MEMBER ORASKOVICH MOVED TO HIRE BRANDON SILGJORD AS A PART TIME POLICE OFFICER FOR THE CITY OF PEQUOT LAKES AT $14.75 EFFECTIVE MARCH 4, 2008 AND TO ADOPT RESOLUTION 08-09, PUBLIC EMPLOYEES RETIREMENT ASSOCIATION POLICE OFFICER DECLARATION. COUNCIL MEMBER NAGEL SECONDED THE MOTION. MOTION CARRIED 4-0. 10. City Clerk's Report Report by Clerk Peine. 10.1. Capital Asset Useful Life Table Revisions The City Clerk provided the Council with recommendations for revisions to the Capital Asset Useful Life Table. She indicated that the table has been revised to include only those items that are over$2,500 in value and to include new assets that the City has acquired. COUNCIL MEMBER NAGEL MOVED TO APPROVE THE REVISED CAPITAL ASSET USEFUL LIFE TABLE WHICH IS PART OF THE CITY'S ACCOUNTING AND REPORTING POLICY. COUNCIL MEMBER ORASKOVICH SECONDED THE MOTION. MOTION CARRIED 4-0. 10.2. 2007 Year End Budget Report Deputy City Clerk Nancy Malecha reviewed the 2007 Year End Budget report. She noted that the interest earned in 2007 was $76,619.04. She reviewed year end fund balances and informed the Council that the City's general fund balance is at 37% of the 2008 budget. She also noted that for 2007, the general fund net revenues over expenditures was $86,813.82. COUNCIL MEMBER ORASKOVICH MOVED TO ACCEPT THE 2007 YEAR END BUDGET REPORT. MAYOR MALECHA SECONDED THE MOTION. MOTION CARRIED 4-0. 10.4. Ox Trot The City Clerk informed the Council that the Park Board is requesting the Council to authorize the expenditure of$4,300 to be split by the Council contingency fund and the park fund balance to purchase an Ox for the "Ox