City Council Meeting Date: September 20, 2022
To: Mayor and City Council
From: Ben Martig, City Administrator
Brenda Angelstad, Finance Director
Title
Consideration of Support for Creation of Policy Related to Annual Voluntary Donations to City from Colleges.
Body
Action Requested:
Consider Motion to refer Finance Policy Committee to explore policy options related to dedicating future colleges annual voluntary City donation toward the capital parks fund to be presented for full City Council review on or before the November 15th City Council Worksession.
Summary Report:
At the September 13, 2022 City Council Work Session, the Council discussed funding options for the capital parks fund outside of the levy increase. Staff discussed that the annual voluntary donation made by Carleton College and St. Olaf College to the City and if this donation could be utilized for the capital parks fund.
The Finance Policy Committee will look into policy options related to these annual voluntary donations and direct staff to create a policy. Policy 6.08 related to the Roles and Responsibilities of the Council Finance Policy Subcommittee is attached (attachment 1).
Additional information may be included in a supplemental memo.
Alternative Options:
The Council can choose to not create a policy related to the annual voluntary donations made by the colleges to the City.
Financial Impacts:
N/A
Tentative Timelines:
November 15, 2022 Policy to come to full City Council for review (if not before)