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Reserve policy goes back to drawing board

 


After some lively discussion at the May 22 workshop meeting, a proposal to change the city’s financial policies on reserves was revised. The proposed change from a one month operating reserve to two months is being put on hold for further research to determine how much money would be needed to increase the reserve to two months in 10 years, and what projects would be sacrificed to move to a two-month reserve.

Finance Director Kristin Garcia said it would take some time to gather the data needed to answer those questions.

“Many variables go into arriving at what a projected reserve balance will be and if one variable changes, all other data changes,” Garcia said in council documents.

“I think the best approach moving forward is to table discussion on the reserve policy and maintain the current one month operating reserve until we can update the 10-year financial plan, re-align council priorities, understand long term reserve balance projections and see what investment opportunities are available,” Garcia said.

Also on this Monday’s agenda was two rezones, both from medium residential to high density.

No one spoke on May 22 against a rezone for the Villas at Arlington, which is north of the Stillaguamish Senior Center, but there was a crowd at the workshop meeting, with one person speaking against a Stewart rezone, south of Highland Drive and west of Stillaguamish Avenue.

Arlington City Council is scheduled to vote Monday on an inter-local agreement with the City of Marysville and Marysville Fire District to hire a facilitator to assist in discussions on the possibility of forming a Regional Fire Authority. Costs for the facilitator will be shared equally among the three parties. The committee has been meeting since November 2016, after council approved the idea in August last year.

Council was also scheduled to vote on the Arlington Police Department's participation in a newly formed response team called the Interagency Child Abduction Response Team (ICART), to rapidly deploy specially-trained investigators should a child go missing in Snohomish County.

Deputy Chief Dan Cone recently participated in a two-day intensive training program on investigation, prosecution and treatment of cases involving missing and exploited children and more police officers will go through training provided by the National Center for Missing and Exploited Children (NCMEC) in Alexandria, Virginia.

In the consent agenda, council was scheduled to authorize the city attorney to file a quiet title on right of way for Arlington Valley Road and approve an agreement with a developer to extend water utility infrastructure to serve a development in the city’s water service area on 191st Street NE.

 

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