11-09-2015 Council Packet - Laserfiche WebLink

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MINUTES OF THE ORONO CITY COUNCIL MEETING Monday, October 26, 2015 7:00 o’clock p.m. _____________________________________________________________________________________ Page 22 of 23 19. THIRD QUARTER FINANCIAL REPORT (continued) Olson stated the third quarter investment listing is also doing fine. The purchase price of the City’s current investments total $17,976,045.88. Total interest earned through September is $132,424.90. The current market value of investments is $17,980,709.66, which is $4,663.78 greater than the City’s cost. Olson stated overall the General Fund budget is in good shape through the end of June and that revenues are expected to exceed budget while expenditures should finish the year at or below budgeted levels. McMillan stated she would like to thank Staff and all the volunteers for making the golf course a huge success this year. The City Council took no formal action on this item. *20. NON-WAIVER OF TORT LIMITS – RESOLUTION NO. 6560 Levang moved, Cornick seconded, to adopt RESOLUTION NO. 6560, a Resolution Making a Selection Not to Waive the Statutory Tort Limits for Liability Insurance Purposes. VOTE: Ayes 4, Nays 0. *21. UNIVERSITY OF MINNESOTA – MN RESUSCITATION CONSORTIUM GRANT Levang moved, Cornick seconded, to accept the $2,000 grant from the University of Minnesota – Resuscitation Consortium. VOTE: Ayes 4, Nays 0. *22. CLAIMS/BILLS Levang moved, Cornick seconded, to approve payment of the All Funds Account. VOTE: Ayes 4, Nays 0. CITY ATTORNEY’S REPORT Mattick stated he had nothing to report. CLOSED MEETING 23. CITY OF ORONO AND THE NYGARDS This item was removed from the agenda. ADJOURNMENT Levang moved, Cornick seconded, to adjourn the Orono City Council meeting at 9:24 p.m. VOTE: Ayes 4, Nays 0.