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vii14UTES <br />C:ity Couxxcil <br />August 5s -~9~3~. <br />a~tayor Hansoza poanted out that it should be r~oted that the Auda.tor <br />a.s recorrunexiding that the improvement bonds of 197~ account be closed <br />and the funds trans£exred at year end, <br />Arzrxette Freeman, llepu.ty C1erk, requested that the Council charage the <br />Cityts payment procedures so that vendoxs are ~aid at the end o£ the <br />month and full-time employees axe paid twrice a month. iKrs. Freeman <br />stated that this wi1:1 help the Cityas of£ice staff in. processiaag <br />raonthly ~>ayment vouchers. <br />i~Irs, Nardini introduced the followixig .resolutio.n and moved its adoptiona <br />N7i;SOLUTION I40, 81~.Fiw393 - CIIANGING 'SHIs GITYo S YAYiJiL;N'P <br />PfZOCEDURL+'S 50 THA7' AI,L VENDERS ARL YAIA AT TI~E EVD OF <br />iHE MON`1~II 41~TI3 THE F;XCE~'PION OF F'ULL-TII~; EMPT,OYEES WHO <br />WILL BE 1~AID TWICE A MONTI~I <br />`i'he Soregoing xesolution was duly seconded by NLrs. Scalze, <br />Ayes (5) N~:rdixii, Scalze, Hansora, Forsberg, F'ahey, <br />Nayes (0), <br />Resolution declared adopted, <br />7'his resolution appears ixi Resolution Book Noa 79 Page 2b6, <br />Tha City Clerk asked Mr. Voto i~' the City will be needing a Revenue <br />Sharing Audit dorze soon, i~Lr, Voto stated that he will check on this, <br />'Phe f'ollowing is a summary of recommendations that were contained in <br />the Cityos Management Report and Hecotmnendatione; <br />asEvaluate the City~s exista.ng £inancial po7.icies and procedures in <br />relation i:o the new financial environment and the changes made by the <br />19n1 Aiinnesota i.egis~.ature, <br />~EDevelop and implement an improved investment program to mir~imize <br />uninvested cash balances, <br />;eContinue to m~nitor tax collections arzd delinquency rates, <br />~~Conti.nue to expaaxd and irnprove accounting controls over the special <br />assessrraents receivable and conti.nue to monitor current collections <br />and deli.nquency rates. <br />3~Effect 196L cash transfers to record the December 31, 1980 interfusad <br />rec ea.vables/pa,vables. <br />~.°Continue action to increase the fund balance of the General Fund <br />unti~, an opta.rnwu level is achieved, <br />~~Continue to monitor the various and several rules and rogul,ations of <br />the P'edera:L 0~'fice of Revenue Sharzng and approve the perfoxmatace of a <br />~~special compliance audit~~ for 1980g 1981 or 19f72m <br />~:Effect the Snancing of the new City Garage, <br />;EContinue to monitor the financ9.a]. projecti.ans o~ the various Specia7. <br />Assessment T Aebt Service Accourzts as detailed previously ixa this <br />Fteport m <br />Page -itw <br />