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