Last Tuesday this went down to defeat 10-1.  Today we finally watched the video.

 

  • At about 1 hour and 54 minutes, Councilor Bergman refers to a decision from the DOR that we can not withdraw monies from the trust fund.
  •    Per the post last week,  that was not the recommendation
  •  Although we have been saying to remove monies from the Self-Insurance Trust, the actual mechanism is not add as much as we have planned to reduce the fund balance at the end of the year.”      
  • It is very legal not add as much to the trust to reduce the fund balance???

 

Next the City Manager comments:

  • The City Auditor and Treasurer should develop a policy as to how many months of reserves we should have.  
  • That is a great idea.

 

 

Here is our question to Councilor Bergman:

  1. What if the City Auditor and Treasurer say the policy should be 2 months, while we are currently at 3 months.
  2. How would you draw the balance down to 2 times from 3 ?