2007-04-10MOUND HOUSING AND REDEVELOPMENT AUTHORITY
APRIL 10, 2007
The Housing and Redevelopment Authority in and for the City of Mound, Minnesota,
met in special session on Tuesday, April 10, 2007 at 6:00 p.m. in the council chambers
of city hall. This meeting ran concurrently with a special City Council meeting.
Members Present: Chair Mark Hanus; Commissioners David Osmek, John Beise, Greg
Skinner and Mike Specht.
Others Present: Executive Director Kandis Hanson, Public Works Director Carlton
Moore, Community Development Director Sarah Smith, Finance Director Gino Businaro,
Catherine Pausche, Dave Callister and Sid Inman.
1. Open meeting
The meeting was called to order at 6:00 p.m. by Chair Hanus.
2. Finance Workshop. with rearesentatives of Ehler's & Associates
Dave Callister of Ehlers & Associates presented an update of the Key Financial
Strategies Financial Management Plan of 2004. He reviewed the expenditures and total
debt levy. The projected revenue increase is based on 3% per year and the
expenditures on 5%.
Osmek is concerned that because 63-65% of the expenditures is labor, that 5% should
be perhaps 7%. He also feels that at the low side 20% is acceptable for a fund balance.
He also asked what line #65, reconciliation to County represents and Businaro will
report back to him on that.
Inman asked if this is a useful tool and Hanus commented that it is, if the numbers are
accurate, and Osmek stated that expenses would be more realistic if a 7% increase
were used for labor and 3% for everything else.
Callister stated that they would adjust the numbers, using a fund balance of about 20%,
and make adjustments to the expenses.
Inman reviewed the three options for the proposed Public Works Maintenance Facility;
Election GO Bond, Capital Improvement GO Bond, and HRA Lease Revenue Bond.
3. Ad~ iourn
MOTION by Osmek, seconded by Specht to adjourn at 7:05 p.m. All voted in favor.
Motion carried.
Attest: Bonnie Ritter, City Clerk
Chair Mark Hanus