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4. Consider approval or other action increasing working capital reserves for the Utility Fund <br />from sixty -ninety days (60-90 days) to ninety-one hundred -twenty days (90-120 days) — M. <br />Dolby <br />Finance Director Michael Dolby presented a summary. <br />Committee member Zemanek moved to increase working capital reserves for the Utility Fund from <br />sixty -ninety days (60-90 days) to ninety-one hundred -twenty days (90-120 days). Committee <br />member Moser seconded. MOTION PASSED. <br />Ayes: Chairman Engelken, Committee Members Moser and <br />Zemanek <br />Nays: None <br />Absent: Committee Member Leonard <br />5. Consider approval or other action regarding reimbursement to Mayor Rigby for City <br />Manager recruitment expenditure (dinner Rigbys/Alexanders) — Chairman Engelken <br />Committee member Zemanek moved to reimburse Mayor Rigby for a City Manager recruitment <br />expenditure (dinner Rigbys/Alexanders). Committee member Moser seconded. MOTION PASSED. <br />Ayes: Chairman Engelken, Committee Members Moser and <br />Zemanek <br />Nays: None <br />Absent: Committee Member Leonard <br />6. Set date for next meeting — M. Dolby <br />The Committee set November 12, 2012, at 5:00 p.m., as the date and time for the next meeting. <br />7. Administrative Reports — C. Alexander <br />There were no administrative reports. <br />8. Committee Comments — Matters appearing on agenda; Recognition of community members, city <br />employees, and upcoming events; Inquiry of staff regarding specific factual information or existing <br />policy. <br />There were no Committee comments. <br />9. Adjourn <br />There being no further business, Committee Member Moser moved to adjourn the meeting. The <br />meeting was adjourned at 5:12 p.m. <br />Respectfully submitted, <br />Patrice Fogarty, City Secretary <br />Passed and approved on the 12th day of November, 2012. <br />Chairman Chuck Engelken <br />Page 2 of 2 <br />September 24, 2012 Fiscal Affairs Committee Minutes <br />