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MINUTES OF THE <br />ORONO CITY COUNCIL MEETING <br />Monday, August 11, 2014 <br />_____________________________________________________________________________________ <br />  <br />Page 10 of 12  <br />  <br /> <br />(13. SECOND QUARTER FINANCIAL REPORT, Continued) <br /> <br />Olson stated the police department is at 49.74 percent and the fire department is at 76.09 percent due to <br />the timing of fire payments. It is expected the fire department will finish the year around 99 percent of <br />budget. Police state aid will be received sometime in November and that category will likely be at 100 <br />percent by the end of the year. Olson noted special services, which are project costs that are passed on to <br />applicants, are over budget for the year. Olson stated given the nominal amount of this budget, any <br />overages will be offset by related revenues. <br /> <br />Olson stated the other General Fund department budgets are in good shape for this time of year and the <br />overall expenditure budget is forecast to end the year at 100 percent or less. <br /> <br />Olson stated 2014 is the first year that the building inspection function has been outsourced to Metro <br />West Inspections. Through June the inspection service has cost $32,418.50. It is anticipated the second <br />half of the year will have greater expenditures than the first half did. The current annual estimate for <br />inspection services if $72,000. Olson stated the wages and benefits for a full-time building inspector <br />would be $84,000. <br /> <br />Olson displayed a list of the City’s investment accounts and noted the City currently has $7.8 million in <br />CD’s. The purchase price of the City’s current investments total $17,657,881, with total interest earned <br />through June being approximately $78,000. Olson noted in 2013, the City earned a total of $78,000 in <br />interest and that the City’s investments in 2014 are doing much better than last year. <br /> <br />Printup asked about the City’s AAA bond rating. <br /> <br />Olson stated Orono is still one of the few cities in the nation that have an AAA bond rating. <br /> <br />The City Council took no formal action on this item. <br /> <br />Loftus stated the hiring review committee has selected their top candidate for the Public Works Director <br />/City Engineer and will be holding their second round of interviews for the Public Works Supervisor <br />position. The committee hopes to have the recommendations by the next City Council meeting, with <br />possible start dates in September. <br /> <br />Loftus stated candidate filings started on July 29 and continue through tomorrow. Primary Elections are <br />August 12. <br /> <br />Loftus reported construction on the new police garage addition starts August 18, which is next Monday, <br />and that she will keep the Council updated on the progress being made. <br /> <br />Loftus stated a technical advisory meeting for County Road 112 was held recently. Loftus stated the <br />committee has not really met since preliminary design approval was received last winter. Hennepin <br />County would like the technical advisory committee to focus on the first phase of the construction project, <br />which is basically the downtown Long Lake area. Construction would start sometime in 2017. Hennepin <br />County is looking for one council member and one resident from each community to serve on the <br />committee, with the Project Advisory Committee (PAC) meeting approximately once a month. Loftus <br />noted Jeanne Mabusth served on the first committee and that she would recommend her for this <br />committee as well.