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July 23,2019 Page 3 of 6 <br /> Motion by Councilmember Burg,seconded by Councilmember Jacobsen to Approve a Resolution to <br /> place the new 2040 Comprehensive Plan into effect. <br /> City Manager Lotter indicated Assistant Director of Community Assets and Development Gozola would be <br /> presenting this item to the Council. <br /> Assistant Director of Community Assets and Development Gozola stated the City of New Brighton <br /> successfully updated and submitted its new Comprehensive Plan to the Met Council in accordance with all <br /> deadlines established by State Statute. The Metropolitan Council has reviewed the updated document,and <br /> has found it to be consistent with regional system plans. Accordingly,the City is now authorized to put the <br /> plan into effect Upon passage of the proposed resolution,the City will be operating under the new 2040 <br /> Comprehensive Plan,and the previous 2030 Comprehensive Plan will be archived. <br /> Laura Chamberlain, 123 North Third Street in Minneapolis,thanked the Council and staff for allowing her <br /> firm to assist with the comprehensive planning process. She explained it was extremely exciting to see this <br /> project from start to finish. She stated she was excited to see what was in store for New Brighton in the future. <br /> Assistant Director of Community Assets and Development Gozola explained the next step for the City would <br /> be to amend the City's zoning ordinance in order to be in compliance with the new Comprehensive Plan. <br /> Councilmember Burg commented on the lengthy process the City had followed in order engage the public <br /> and gain feedback from the community for the Comprehensive Plan. <br /> Councilmember Jacobsen stated this has been a long process and explained he was very pleased with the final <br /> result which was the 2040 Comprehensive Plan. He thanked staff and the consulting firm for all of their <br /> assistance on this document <br /> Mayor Johnson indicated the community had a great deal of input on this document. She discussed the <br /> importance of having a solid Comprehensive Plan in place as it would serve as a guiding document for the <br /> City ofNew Brighton. <br /> 4 Ayes,0 Nays-Motion Carried 2.Consider 2nd Quarter <br /> 2019 Interim Financial <br /> 2. Consider 2nd Quarter 2019 Interim Financial Statements. Statements. <br /> Motion by Councilmember Jacobsen,seconded by Councilmember Allen to accept the Second <br /> Quarter 2019 Interim Financial Statements. <br /> City Manager Lotter indicated Finance Director Davitt would be presenting this item to the Council. <br /> Finance Director Davitt explained in an effort to keep the Council informed on the City's fiscal <br /> condition, a comparison of the 2019 revenues and expenditures for the period ending June 30, <br /> 2019 (unaudited) was provided to the Council. The comparison shown includes those programs <br /> and services that constitute the City's core functions for which changes in financial trends can <br /> have a near-term impact on the ability to maintain current service levels. Programs such as <br /> debt service and tax increment financing which are governed by pre-existing obligations and <br /> restricted revenues are not shown. In addition, expenditures in the City's Fleet and Non-Fleet <br /> programs are not shown as these expenditures are specifically tied to pre-funded asset <br /> replacement funds. These replacement funds are not susceptible to year-to-year fluctuations <br /> and therefore annual reviews are considered sufficient. <br /> Finance Director Davitt reported the information is presented on a modified cash basis <br /> accounting method, which measures only the actual revenues that become available and <br /> measurable, and expenditures are recognized in the period the liability is incurred. It should be <br /> noted that many of the City's revenue streams such as property taxes, are non-recurring or are <br /> received intermittently throughout the year. This can result in wide revenue fluctuations from <br /> month to month. In addition, some of the City's expenditures such as new capital purchases <br /> are also non-recurring and subject to wide fluctuations. To accommodate these differences, a <br /> comparison is made to historical results to identify whether any new trends exist. Staff <br /> provided further comment on the fund balances and recommended approval of the second <br />