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