05-22 Work Session (2) CITY COUNCIL MEETING MINUTES
J Richfield, Minnesota
%'�,,,c,,,I,.„1,, .. Special City Council Work Session
May 22, 2018
CALL TO ORDER
The work session was called to order by Mayor Elliott at 6:30 p.m. in the Bartholomew Room.
Council Members Pat Elliott, Mayor; Edwina Garcia; Michael Howard; Maria Regan Gonzalez;
Present: and Simon Trautmann.
Staff Present: Steven L. Devich, City Manager; Chris Regis, Finance Manager; and Jared
Voto, Executive Aide/Analyst.
Item#1 KEY FINANCIAL STRATEGIES
Finance Manager Regis gave an overview of the Financial Management Plan and Capital
Financing Plan documents. He went into detail on Local Government Aid (LGA) as it relates to the
operating levy.
City Manager Devich discussed the operating revenues and expenditures and stated the
assumption for 2019 is status quo; not adding any new services. He also discussed the potential
increase in 2019 and 2020 due to increase debt/special levy.
Mayor and Council members asked questions and discussed topics such as the increase in
commercial tax base as projects are completed and the risks of delaying some of the projects being
bonded.
ADJOURNMENT
The work session was adjourned by unanimous consent at 6:56 p.m.
Date Approved: June 12, 2018
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Executive Aide/Analyst Ci y Manager