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MINUTES <br />CITY COUNCIL <br />May 30, 1990 <br />time pending establishment of internal policies and <br />procedures regarding the developer deposit situation. <br />The Auditor agreed that resolving the problems with the <br />Agency Funds were a higher priority. <br />The next funds reviewed were the Capital Project Funds <br />and Enterprise Funds. <br />The Auditor then reviewed his summary of <br />recommendations detailed in the Management Report which <br />were as follows: <br />*Continue efforts to monitor the effects of State <br />legislation on funding levels of the City. <br />*Monitor the investment in the Franklin U.S. Government <br />Securities Fund. <br />*Closely monitor delinquent assessments and correlate <br />collection rates with the Debt Service Study. <br />*Continue maintaining updated subsidiary listings of <br />special deferred assessments and establish a common <br />understanding with the County regarding assessment <br />data requirements. <br />*Review and analyze developer accounts in their <br />entirety. <br />*Review internal procedures relating to preliminary <br />construction costs. <br />*Monitor the State's proposed method of targeting aid <br />reductions to cities. <br />*Review the General Fund reserve policy as it pertains <br />to future City budgets. <br />*Determine the collectability of the tax forfeit <br />special assessments relating to the Improvement Bonds <br />of 1985 and update the latest debt study, based upon <br />current financial data and oollection rates. <br />*Continue monitoring MWCC sewer charges on an annual <br />basis. <br />*Monitor the effects of changes in MWCC district <br />structure and consider such changes on the City's <br />sewer rates. <br />Page 4 <br />