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February 21, 2008 <br />Page 3 <br />development of park and recreation facilities. Staff is targeting <br />improvements at Northwood Park with a grant request of $240,000. <br />It was moved by Jacobson, seconded by Berger, and carried 5-0 to <br />adopt Resolution 022108-A, authorizing the District to apply for grant <br />funding through the Land and Water Conservation Fund Program, with <br />funding to be used towards initial development of Northwood Park, <br />consisting of jogging trails with exercise stations and picnic areas; <br />that it be read in title only and all further readings be waived. <br />9. ITEMS FOR DISCUSSION <br />A. Financial Study Session <br />Friedl said this would be an opportunity to discuss, share ideas and <br />perspectives and to be more fully informed of the District's financial status. <br />Lewanda provided a financial presentation that included: the District <br />financial vision statement; State budget ramifications; strategic goals; the <br />District's current financial status; revenues by type; 10 -year total revenues, <br />expenses and Quimby fees; other post -employment benefits (OPEB) issues <br />and opportunities; and financing strategies. <br />A discussion ensued regarding: <br />Debt for specific capital projects, <br />Pre -fund for OPEB liability through a third party, <br />An equipment replacement fund policy, <br />A General Fund reserve strategy, <br />An impact fee policy. <br />Friedl said that staff appreciated Board input. <br />10. REPORTS AND ANNOUNCEMENTS <br />A. Borchard Center HVAC Upgrades — No Comment <br />B. Mountains Recreation and Conservation Authority (MRCA) Cash <br />Report for Period Ended December 31, 2007 — No Comment <br />C. Budget Performance Report — January 2008 — No Comment <br />