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October 25, 2016 Page 5 of 6 City Manager Lotter indicated Finance Director Davitt would be presenting this item to the Council. Finance Director Davitt explained in an effort to keep the Council informed on the City’s fiscal condition, a comparison of the 2016 revenues and expenditures for the period ending September 30th, 2016 (unaudited) has been drafted. She noted the comparison shown includes those programs and services that constitute the City’s core functions for which changes in financial trends can have a near- term impact on the ability to maintain current service levels. Programs such as debt service and tax increment financing which are governed by pre-existing obligations and restricted revenues are not shown. In addition, expenditures in the City’s Fleet and Non-Fleet programs are not shown as these expenditures are specifically tied to pre-funded asset replacement funds. These replacement funds are not susceptible to year-to-year fluctuations and therefore annual reviews are considered sufficient. The information is presented strictly on a cash basis which measures only the actual revenues that have been deposited and the actual expenditures that have been paid. This is in contrast with the City’s audited year-end financial report which attempts to measure revenues earned but not collected, as well as costs incurred but not yet paid. She noted that many of the City’s revenue streams such as property taxes, are non-recurring or are received intermittently throughout the year. This can result in wide revenue fluctuations from month to month. In addition, some of the City’s expenditures such as new capital purchases are also non-recurring and subject to wide fluctuations. To accommodate these differences, a comparison is made to historical results to identify whether any new trends exist. Staff provided the Council with a summary on the general fund, noting revenues and expenditures for the past three quarters and recommended the Council accept the Third Quarter financials. Mayor Johnson thanked staff for the thorough report. Councilmember Jacobsen appreciated the fact the reporting was done by both percentages and dollar figures. He thanked staff for providing the Council with new charts. He suggested line items off by less than $10,000 not be brought to the Council’s attention. Mayor Johnson was in agreement. She requested staff provide clarification on the City’s water rates. City Manager Lotter discussed the water rates with Minneapolis water versus the City’s water. He reported that any increase in rates were being covered by the Army. He then commented on the City’s proposed utility rate increases over the next several years. 5 Ayes, 0 Nays-Motion Carried Commission Liaison Reports, Announcements and Updates Dean Lotter City Manager Lotter reported the DX response team met with the Army Environmental Command and the MPCA. He explained the Army was completing an optimization report in order to more closely monitor the plume for TCAAP. He indicated the Ramsey County City Managers met yesterday and discussed the joint dispatch center and racial inequities. He stated the Ramsey County Library in the Community Center would be celebrating its five-year anniversary on Friday, October 28th at 1:00 p.m. He reported the City’s website launch took place last Friday. Gina Bauman Councilmember Bauman thanked Councilmember Jacobsen and Councilmember Burg for voting to reinstate her as a Council Liaison. Brian Strub Councilmember Strub explained the Public Safety Commission discussed neighborhood oriented policing (NOP) at their meeting on Monday, October 24th. He encouraged New Brighton residents to visit the City’s new website and view the NOP information. He indicated the Public Safety Commission would be discussing police worn body cameras at their next meeting, along with traffic concerns along Robin Lane. He stated there would be a forum on Commission Liaison Reports, Announcements and Updates