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City Council Minutes <br /> January 3, 2006 <br /> Page 2 <br /> ---------------------------- <br /> 4. Open Mike <br /> There was no one present for open forum. <br /> 5.1. City Auditor <br /> City Auditor Doug Host was present to discuss the City's fund balance <br /> position. Mr. Host suggested that the Council consider a formal policy and <br /> procedure for setting up fund balances. Discussion was held regarding the <br /> City having a designated fund balance for cash flow purposes. The Clerk <br /> suggested designating up to 50% of the general fund budget as cash <br /> balance for cash flow purposes. Council Member Ryan indicated he would <br /> agree to 50%, however the 50% should include other city fund <br /> designations such as the Highway 371 and Park fund designations. <br /> COUNCIL MEMBER RYAN MOVED TO DESIGNATE UP TO 50% OF <br /> THE GENERAL FUND BALANCE FOR CASH FLOW PURPOSES <br /> ASSUMING SUFFICIENT FUND BALANCE IS AVAILABLE FOR <br /> OTHER CITY FUND DESIGNATIONS SUCH AS THE HIGHWAY 371 <br /> FUND AND THE PARKS FUND. COUNCIL MEMBER SJOBLAD <br /> SECONDED THE MOTION. MOTION CARRIED 7-0. <br /> The City Clerk indicated that the City is not in a position to designate 50% <br /> at this time, but it is a goal that the City will continue to work toward. <br /> 5.2. BLADC Update <br /> Amy Collins and Sheila Haverkamp were present. Ms. Collins reported on <br /> the highlights of 2005. <br /> The City Clerk indicated that the City staff has been in contact with <br /> BLADC regarding having BLADC expand their services to assist the City <br /> with coordination of funding sources and grant applications for the <br /> Government Drive Project and possibly for the Brunes Royce Addition. <br /> The Clerk also spoke about the possibility of BLADC expanding its <br /> services to include assisting with downtown redevelopment. <br /> Ms. Haverkamp spoke to the Council regarding assisting the City with <br /> these roles. She indicated that because downtown redevelopment <br /> pertains to retail businesses which are outside BLADC's mission, the City <br /> should submit a letter to the BLADC Board requesting this assistance. <br /> COUNCIL MEMBER RYAN MOVED TO REQUEST SERVICES FROM <br /> BLADC RELATING TO FUNDING SOURCES FOR GOVERNMENT <br /> DRIVE AND WATER AND SEWER TO THE BRUNES ROYCE AREA <br />