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MINUTES <br />CITY COUNCIL <br />JUNE 6, 2018 <br />Montour announced that there will be an open house for Mr. Hanson on <br />Wednesday, June 20 from 3:30-6:00 p.m. at City Hall. <br />McGraw thanked Joel for all of the years he has given to the City and <br />appreciates the stability that he has provided for so many years. <br />PRESENTATION- Chris Knopik and Lance Lauinger from Clifton Larson Allen, the City's <br />2017 <br />auditors were in attendance to review the City of Little Canada's 2017 <br />COMPREHENSIVE <br />Comprehensive Financial Report. <br />FINANCIAL REPORT <br />BY CITY AUDITOR, <br />Mr. Knopik reviewed the required communications they must comply with <br />CLIFTON LARSON <br />and reported that all City Staff cooperated with the audit and they were able <br />ALLEN <br />to obtain all needed information. He explained the audit results were that <br />the City received an "unmodified" or clean audit opinion on the financial <br />statements, which is the best result; there are only a few things relating to <br />internal controls that the City is continuing to improve; the Minnesota legal <br />compliance had no exceptions noted; and the City received the GFOA <br />Certificate of Achievement for Excellence in Financial Reporting in 2016. <br />Mr. Lauinger reviewed the financial results and the various funds, revenues, <br />and expenditures, and compared the last few years. He showed how Little <br />Canada compares to other cities and the state average in property tax levels. <br />Mr. Knopik reviewed upcoming changes from the Governmental <br />Accounting Standards Board that the City should be aware of. <br />Mr. Knopik stated that the General Fund balance is well within any <br />recommended guidelines from the State Auditor's Office <br />The City Administrator explained that there is no tax levy associated with <br />any of the City's debt, so no dollars are coming from property taxes. He <br />pointed out that Little Canada has one of the lowest property tax rates in <br />Ramsey County. He commended the City's finance staff that does a great <br />job. He noted the segregation of duties comment has been there for a long <br />time and is due to our lean staff. He stated the City takes the comment <br />seriously and is still working on suggestions to help with this. <br />Montour introduced the following resolution and moved its adoption: <br />RESOLUTION 2018-6-121- APPROVING THE 2017 CITY OF LITTLE <br />CANADA COMPREHENSIVE ANNUAL FINANCIAL REPORTAS <br />PRESENTED BY CITYA UDITOR, CLIFTONLARSONALLEN <br />The foregoing resolution was duly seconded by McGraw. <br />Aye (5). <br />Nays (0). Resolution declared adopted. <br />2 <br />