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City Council Finance Committee <br />Meeting Minutes <br />01/19/16 <br />Page 3 of 5 <br />City Manager Fleming and Finance Committee Members stated that they would <br />discuss whether additional "social investing" guidelines should be adopted in <br />March 2016. <br />The report can be located in the packet of the January 19, 2016 Finance <br />Committee Meeting. <br />2016 INSURANCE RENEWAL, HEATHER BALSER, DEPUTY CITY <br />MANAGER <br />Deputy City Manager, Heather Balser presented a summary of the 2016 Property <br />and Casualty premium from Traveler's to the Finance Committee. <br />Ms. Balser stated there will be an increase of 4.24% in the 2016 Property <br />Casualty premium from 2015 which now includes the new City Services facility. <br />Not included in the 2016 premium is the Wastewater Treatment Plant current <br />under construction. Once this facility is added, the City's premium will increase <br />approximately $41,000. <br />Ms. Balser also reviewed with Finance Committee members the coverage of the <br />Golf Course and the specifics of the Inland Marine coverages under the policy. <br />Ms. Balser stated that for all lines of coverage, the City will see a 2.33% increase <br />in premiums for 2016, primarily due to the new City Shops, which is <br />approximately $60K under budget. <br />The schedule of coverages, premiums and summary can be located in the <br />packet of the January 19, 2016 Finance Committee Meeting. <br />DRAFT WORK PLAN <br />Chairperson, Ashley Stolzmann presented a draft listing of the items she would <br />like to see accomplished by the Finance Committee in 2016. The work plan is <br />segregated by quarter and includes the standard monthly reports. Ms. <br />Stolzmann asked the Finance Committee members for any comments or <br />suggestions to the plan. <br />Council Member Maloney and Mayor Muckle questioned whether the 2016 <br />Capital Projects Review (Current Budget to Actual), listed for 2nd quarter 2016 <br />needed to be addressed sooner. Council Member Stolzmann agreed and stated <br />that more specific timelines, instructions and comments needed to be added to <br />the Work Plan. Ms. Stolzmann stated that she would bring the revised Work <br />Plan to the next meeting of the Finance Committee. <br />The Finance Committee Work Plan draft and corresponding narrative can be <br />located in the packet of the January 19, 2016 Finance Committee Meeting. <br />4 <br />