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07-10-91 Council Workshop Minutes
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07-10-91 Council Workshop Minutes
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MINUTES <br />CITY COUNCIL WORKSHOP <br />JULY 10, 1991 <br />It was noted that for the year 1990/91 15% of the tax <br />dollar collected goes to fund City services. <br />The Auditor reviewed in detail the Account Balance <br />Analysis of the Combined Financial Statements as <br />outlined in pages 12 through 22 of the report. It was <br />noted that the City~s current and delinquent property <br />tax collection rate was 98% in 1990, and the current <br />and delinquent special assessment collection rate was <br />109%. <br />Voto pointed out that the Audit identified a duplicate <br />payment that was made to a contractor during 1990. The <br />City Administrator reported that this matter is being <br />pursued and accounting practices changed to ensure <br />better controls. <br />Next Voto reviewed the City's General Fund as outlined <br />in the report on paqes 23 through 29. It was noted <br />that the fund balance increased by $9,148 in 1990. <br />Voto also reviewed with the Council reasons for and <br />benefits of maintaining reserve balances. <br />The Auditor then reviewed Special Revenue Funds <br />outlined on page 29, as well as Debt Service Funds <br />outlined on pages 30 through 35 and Special Assessment <br />Debt outlined on pages 35 through 37. <br />Capital Project Funds (page 38), Enterprise Funds <br />(pages 39 through 45), and Agency Funds (pages 46 and <br />47) were reviewed by Voto. <br />The following is a summary of the recommendations <br />detailed in the Management report which the Auditor <br />indicated should be addressed by the City in 1991: <br />*Monitor the Franklin investment closely and redeem <br />the investment at the most opportune time. <br />*Continue to maintain complete updated subsidiary <br />listings of special deferred assessments. <br />*Review the Due from Developers receivable in the <br />General Fund and the Park Charges in the Capital <br />Projects Fund for the status of the underlying <br />property. <br />Page 2 <br />
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