04-14-1986 SpecialCITY OF RICHFIELD, MINNESOTA
SPECIAL CITY COUNCIL STUDY SESSION MEETING
APRIL 14, 1986
MEMBERS PRESENT: John Hamilton, Mayor; Martin Kirsch;
Ivan Ludeman; Edwina Garcia; and, Michael
Sandahl.
STAFF PRESENT: Steven Devich, Acting City Manager;
Thomas Ferber, City Clerk; Donald
Fondrick, Community Services Director;
Tom Morgan, Public Safety Director; and,
Jean Mitchell, Finance Manager.
The meeting was called to order by Mayor Hamilton at 5:43 p. m.
Item ~~1 PRESENTATION OF CITY OF RICHFIELD FINANCIAL REPORT.
C.L. 137.
Acting City Manager Devich reviewed Council Letter No. 137
regarding the 1985 Annual Financial Report highlighting the
financial statements of the general fund, water utility-fund,
sewer utility fund, golf course fund, storm sewer utility, and
liquor fund.
Council Member Ludeman noted that the street division had
come in considerably under budget and stated that some streets
in east Richfield, especially 70th Street and Bloomington
Avenue, were in need of repair and preventative maintenance.
Community Services Director. Fondrick reviewed the scheduling
and procedures used for street repair and stated the streets
mentioned by Council Member Ludeman would be looked at for
possible repairs.
Discussion followed regarding the necessity to maintain a
substantial general fund balance, currently at $3,792,000, to
fund operating costs of the city .prior to the receipt of
property tax settlements and state aids. The fund balance also
is necessary due to the uncertainty of future state actions
regarding local government aids.
Acting City P9anager Devich stated a more comprehensive
review of 1985 financial operations will be made this summer
when the auditor's report is complete.
ADJOURNMENT
The meeting was adjourned at 6:35 p.m.
Date Approved: 4-28-86
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Thomas P. Ferber
City Clerk
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@'V e L~TI-Grf7 '
Aetin City Manager
Mayor
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