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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 Zemanekmoved 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 />MOTION PASSED. <br />member Moser seconded. <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 Zemanekmoved to reimburse Mayor Rigby for aCity Manager recruitment <br />MOTION PASSED. <br />expenditure (dinner Rigbys/Alexanders).Committee member Moser seconded. <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 setNovember 12, 2012,at 5:00 p.m., as the date and time for the next meeting. <br />7.Administrative Reports <br />–C. Alexander <br />There were no administrative reports. <br />8.Committee Comments <br />–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 Mosermoved to adjourn the meeting. The <br />meetingwas adjourned at5:12 p.m. <br />Respectfully submitted, <br />________________________________ <br />Patrice Fogarty, City Secretary <br />th <br />Passed and approved on the 12day ofNovember,2012. <br />________________________________ <br />Chairman Chuck Engelken <br />Page 2of 2 <br />September 24, 2012 Fiscal Affairs Committee Minutes <br /> <br />