04-25-2016 Council Minutes - Laserfiche WebLink

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MINUTES OF THE ORONO CITY COUNCIL MEETING Monday, April 25, 2016 7:00 o’clock p.m. _____________________________________________________________________________________ Page 21 of 22 16. FIRST QUARTER FINANCIAL REPORT (continued) Orono has also paid Wayzata and Long Lake through June for fire services which resulted in the Fire Protection Services Budget being at 49.79 percent. Olson noted there are a few other departments that are between 25 percent and 26 percent, but this is normal and is not a cause of concern. Olson noted the City has a slightly higher investment balance than they did last time because a fair number of new investments were purchased in March, which had to do with government bonds being called. Olson stated the higher interest rate enacted by the Federal Reserve did not flow through to the bonds and the issuer refunded them, which is why there were a number of new purchases by the City. Olson noted the interest rate typically ranges from 0.75 percent for a one-year CD to 1.3 percent for a five or six year CD. Olson stated overall the General Fund budget is looking good through the first quarter. Revenues, while only at 16.61 percent of budget, are where they are expected to be at this point in the year. Expenditures are also on track to be at budgeted levels. Olson indicated Staff is working on a report that will list the City’s vendors from high to low, the high being the one the City spends the most money with, and that information will be incorporated into the quarterly report. Walsh asked if more homes have sold out at Lakeview. Gaffron indicated they have started building five or six homes and that they are fairly confident more homes will be started this spring and summer. CITY ADMINISTRATOR’S REPORT, CONTINUED Loftus reported last Wednesday was the City’s open book meeting for the residents and the City’s Assessor reported that 11 residents attended the meeting. One inspection was scheduled following that meeting. The City has also been informed by Bob Byers at Hennepin County that they have officially informed Three Rivers that they will participate and contribute $100,000 to the trail from Livingston to the Dakota Trail. Loftus stated to her knowledge all three partners are ready to go on that project and that the next step will be contacting the affected property owners regarding the project. Since the project is located along a county road, it is likely Hennepin County will be taking the lead on the project. *17. PERMITS/LICENSES Garbage Hauler 1. Empty Can Sanitation, LLC 7300 County Road 26 Maple Plain, MN 55359