HomeMy WebLinkAbout04.13.15 Work Session Minutes Council Work Session
Minutes
April 13,2015
Acting Mayor Donnelly called the work session to order at 6:30 p.m.
Present: Donnelly, Bartholomay, Bonar, Pitcher
Absent: Larson
Also Present: David McKnight, City Administrator; Robin Hanson,Finance Director; Kevin
Schorzman, City Engineer; Cynthia Muller, Executive Assistant
MOTION by Bonar, second by Pitcher to approve the agenda. APIF,MOTION CARRIED.
2016 TH3 Project Concept Plans
MnDOT will be doing a project in 2016 on TH3 between Ash Street and 170th Street. City
Engineer Schorzman presented concept plans for the portion of TH3 from Ash Street to Willow
Street.
MnDOT proposed to remove the crossover median at Hickory Street. Council disagreed with
this closure due to access to the Farmington Mall. Staff suggested proposing a 3/a intersection
and Council agreed. MnDOT proposed to remove the crossover median at Larch Street. Staff
proposed to allow for a left turn from TH3 onto Larch Street. Council agreed. MnDOT
proposed to remove the median crossover at Walnut Street and leave Spruce Street as is (access
from Spruce to TH3 is currently closed). There was a discussion regarding opening Spruce
Street and if this is done, staff recommended closing the frontage road just north of Walnut
Street. Council agreed with closing Walnut Street and opening Spruce Street to allow traffic to
cross TH3. MnDOT proposed to remove the Main Street access to TH3. Council agreed. City
Engineer Schorzman will take Council's recommendations to MnDOT. MnDOT will also want
a formal agreement for the city to maintain the frontage roads along TH3.
(Councilmember Bartholomay left at 7:25 p.m.)
Revised Fund Balance Policy
The city adopted a Fund/Cash Balance Policy in 2011. Finance Director Hanson proposed a
simpler, more straight-forward policy be adopted. GASB classifies a fund balance in five ways;
non-spendable, restricted, committed, assigned and unassigned. This only covers general funds,
not enterprise funds. The city's current Fund Balance Policy recommends a fund balance of 25%
- 50%of budgeted expenditures. In the new policy, staff is proposing to strive for a fund balance
of 45%- 55% of budgeted expenditures. At the end of 2014,the city's fund balance was at 35%,
which is$4.1 million. A fund balance of 45%would be$5.17 million. Council agreed with
striving for a fund balance of 40%- 50%of budgeted expenditures. The new Fund Balance
Policy will be brought to the April 20,2015, Council meeting for approval. It will be retroactive
to December 31, 2014.
MOTION by Pitcher, second by Bonar to adjourn at 8:00 p.m. APIF,MOTION CARRIED.
Respectfully submitted,
Cynthia Muller
Executive Assistant