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CITY COUNCIL WORK SESSION <br />June 51 2017 <br />APPROVED <br />1 CITY OF LINO LAKES <br />2 MINUTES <br />3 <br />4 DATE : June 5, 2017 <br />5 TIME STARTED : 6*00 p.m. <br />6 TIME ENDED : 10:15 P.M. <br />7 MEMBERS PRESENT : Council Member Rafferty, Kusterman, <br />8 Maher, Manthey and Mayor Reinert <br />9 MEMBERS ABSENT :None <br />10 <br />11 Staff members present: City Administrator Jeff Karlson; Public Safety Director John <br />12 Swenson; Community Development Director Michael Grochala; Finance Director Sarah <br />13 Cotton; City Engineer Diane Hankee; Director of Public Works Rick DeGardner; <br />14 Environmental Coordinator Marty Asleson; City Clerk Julie Bartell. <br />IN <br />16 l . Review 2016 Annual Audit, Redpath and Company, Ltd. —Finance Director <br />17 Cotton introduced the Redpath representative Andy Hering who distributed a written <br />18 review of the 2016 Audit. Mr. Hering's report covered: <br />19 <br />20 - Excellence in Financial Reporting Award; <br />21 - Report on Internal Controls; <br />22 - Report on legal compliance; there was discussion about the City's investments <br />23 and the amount of interest received on restricted investments; the council <br />24 requested further discussion on the matter at the next work session; information <br />25 requested on what types of investments are best for the city; <br />26 - Communication to Those Charged with Governance; <br />27 - Pensions; Net pension liability increase was noted, including discrepancy in <br />28 assumed pension return; <br />29 - Summary of Financial Activity; <br />30 - General Fund Summary; <br />31 - General Fund Five Year History; <br />32 - General Fund Monthly Cash Balances; <br />33 - Special Revenue Funds; Program Recreation decrease was noted and Mayor <br />34 Reinert asked that staff report on that fund specifically at the next work session; <br />35 - Debt Service Funds; <br />36 - Capital Project Funds; <br />37 - Enterprise Fund (Change in Net Position and Cash Flow) <br />38 <br />39 Mayor Reinert commended the presentation which was more to the point than past audits. <br />40 2. Arlo Lane Stop Sign Request —City Engineer Hankee reviewed her written <br />41 report. The request received from the neighborhood to study traffic in the area did go <br />42 through a standard review process. She explained the process used to conduct the study <br />43 and how the process compares with the state standard and aligns with what other cities <br />1 <br />