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022492 CC Reg Min . . :. CITY OF SHOREWOOD REGULAR CITY COUNCIL MEETING MONDAY, FEBRUARY 24, 1992 COUNCIL CHAMBERS 5755 COUNTRY CLUB ROAD PAGE 1 M I NUT E S 1. CALL TO ORDER A. PLEDGE OF ALLEGIANCE B. ROLL CALL Present: Mayor Brancel, Councilmembers Gagne, Daugherty and Lewis, City Administrator Hurm, City Engineer Dresel, City Finance Director Rolek, City Planner Nielsen and Public Works Director Zdrazil. Absent: Councilmember Stover C. REVIEW AGENDA Gagne moved, Daugherty seconded to adopt the Agenda. Motion carried - 4/0 2. APPROVAL OF MINUTES A. City Council Meeting Minutes of February 10, 1992. Gagne moved, Lewis seconded to approve the City Council Minutes of February 10, 1992. Motion carried - 4/0 3. CONSENT AGENDA RESOLUTION NO. 19-92 RESOLUTION NO. 20-92 RESOLUTION NO. 21-92 RESOLUTION NO. 22-92 Daugherty moved, Gagne seconded to approve the Consent Agenda and Adopt the Resolutions Therein. A. To Adopt RESOLUTION NO. 19-92 "A Resolution Approving Refuse Collector's License." B. To Adopt RESOLUTION NO. 20-92 "A Resolution Making Appointments to the Park Commission, Planning Commission and Senior Housing and Services Task Force, with Ken Vogel added as the seventh Senior Housing and Services Task Force member." C. To Adopt RESOLUTION NO. 21-92 "A Resolution Approving A Development Stage Plan and Preliminary Plat for Gideon's Cove P.U.D." :l REGULAR CITY COUNCIL MINUTES FEBRUARY 24, 1992 - PAGE 2 . D. Motion to Approve Application for Tree Planting Program Grant 1992. E. To Adopt RESOLUTION NO. 22-92 "A Resolution Amending the 1992 General Fund Budget - City Engineer." Motion carried - 4/0 4. ADJOURNMENT SUBJECT TO THE PAYMENT OF CLAIMS Gagne moved, Daugherty seconded to adjourn the meeting to a Work Session at 7:05 P.M. Motion carried - 4/0 GENERAL AND LIQUOR FUNDS - ACCOUNT NUMBER 00-00166-02 Checks issued since February 7, 1992 Check No. 8507-8576 LIQUOR $ 53,249.90 . TOTAL CHECKS ISSUED Checks for Council approval GENERAL $ 29,026.888 $ 82,276.78 Checks No. 8577-8603 TOTAL CHECKS FOR APPROVAL $ 54,578.96 TOTAL CHECK APPROVAL LIST $136,855.74 CHECK REGISTER FOR FEBRUARY 11, 1991 PAYROLL Checks no. 205903/205952 LIQUOR $2,957.18 GENERAL $15,472.52 TOTAL CHECKS ISSUED $18,429.70 RECONVENE . Mayor Brancel reconvened the meeting at 7:07 P.M. ~', .' -I... . . . REG~LAR CITY COUNCIL MINUTES FEBRUARY 24, 1992 - PAGE 3 Administrator Hurm presented the City Council Work Calendar and a partial list of the City of Shorewood Accomplishments for 1991. He asked the Council if they had any additions. The Council had no additions. Hurm reviewed the Shorewood Statement of Purpose and Statement of City Values. Brancel asked if the Council wished to review the Board Member Manual. The Council decided not to review the Manual. Daugherty said he felt the City Newsletter did not reach the people. He said the newsletter should be more visible. Finance Director Rolek suggested the newsletter could be redesigned and mailed out quarterly and professionally typeset. Hurm said Beverly Von Feldt will be attending a desktop publishing class and can ask how the newsletter can be updated. Hurm presented the Staff Concensus Sheet of Issues Facing the City in 1992. The staff prioritized the issues according to the following system: 1A 1B 2A 2B High Council Control; High Impact High Council Control; Low Impact Low Council Control; High Impact Low Couoncil Control; Low Impact The staff also estimated the amount of staff time required for each issue according to a scale of 1 to 10 with one requiring the least amount of time. Hurm then asked the Council to prioritze the issues. They used a 1 to 5 rating system with 5 being urgent and most important. down to one being not urgent and not important. He asked them to attempt to have equal numbers of fives, fours, threes. twos and ones. Gagne asked how much staff time was devoted to the list. Hurm said several hours. A summary of the Council priority consensus IS attached to and made a part of these minutes. Daugherty said he thought the rating procedure was creative and positive. Hurm said the staff will develop a report based on the priorities list and draft an action plan. Gagne asked Hurm if the City had requested RFP's from banks. He thought this item was requested by the Council in January. Lewis and Daugherty concurred. REGULAR CITY COUNCIL MINUTES FEBRUARY 24, 1992 - PAGE 4 . Hurm said it was his understanding the RFP's were to be requested somtime during the coming year. . . The Council indicated requesting the RFP's from Banks is an immediate priority. Hurm agreed to do this. Public Works Director Zdrazil said the Little League Field at Freeman Park has not yet been satisfactorily completed. He said work remains to be done in the spring. Daugherty asked Rolek what procedure is used to review where City funds are invested. Rolek stated there are State guidelines for investing the City's money. He said he reviews the idle funds and analyzes the cash flow and bonded debt service paYment schedules. Rolek informed Daugherty he uses five different investment firms and banks to acquire the best instrument and yield for the City's investments. He said the City's funds are invested in short and long term investments, depending upon the liquidity needs of the City. Daugherty asked the average dollar amount invested. Rolek said about 4.5 million. Daugherty asked Rolek if an investment advisor is used. Rolek said investment advisors are not commonly used by cities. Daugherty asked the rest of the Council if they thought an advisor should be used. Lewis said he thought one might be helpful. Rolek said the investment of City funds is part of the day to day operation of the City and about 15% of his time is allocated to it. He said it would still require his time even if an advisor was used. Rolek also stated the liquidity of funds is important to consider. However, he said it is possible the City may receive a better return if the money was actively managed. Hurm said the advisor would also take a fee and therefore the return would have to be greater. Rolek said the City's return has been good but there are no figures available to compare the return with other cities. Gagne asked if the guidelines for the City are different than for an individual. Hurm and Rolek said they are. Gagne said the staff should find out how many other cities use a financial consultant. Hurm said this may be available from the State Finance Office or the League of Minnesota Cities. Daugherty asked that a Financial Consultant be added to the Issues List as number 43 with a 4 priority. Lewis agreed. The Council did not object. 4 4It 4It 4It REGULAR CITY COUNCIL MINUTES FEBRUARY 24. 1992 - PAGE 5 . ADJOURNMENT OF WORK SESSION Gagne moved, Daugherty seconded to adjourn the Work Session at 8:22 P.M. Motion carried - 4/0 RESPECTFULLY SUBMITTED Katie Snyder Recording Secretary ATTEST: .~ ~ ~tvv^ HURM, CITY ADMINISTRATOR ~:.;