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COUNCIL MINUTES June 10, 2019 <br />DRAFT <br />2 <br />Temporary On-Sale Liquor License, a Cabaret License, 46 <br />Exemption for Gambling Permit and Parade Run Permit for 47 <br />the Annual St. Joseph’s Church’s August Festival Approved 48 <br /> 49 <br />Consideration of Not Waiving Monetary Limits on Tort 50 <br />Liability per MN Statute 466.04 Approved 51 <br /> 52 <br />FINANCE DEPARTMENT REPORT 53 <br /> 54 <br />2A) Consider Accepting 2018 Audit Report, Redpath and Company, Ltd – Finance Director 55 <br />Cotton noted that the City contracts annually for a financial audit. The 2018 audit was performed by 56 <br />Redpath and Company and she introduced company representative Andy Hering to present the audit 57 <br />results. 58 <br /> 59 <br />Mr. Hering reviewed a PowerPoint presentation that included information on the following: 60 <br />- Recap of audit process; 61 <br />- Opinion on Finance Statement; 62 <br />- Report on Internal Controls; 63 <br />- Report on Legal Compliance; 64 <br />- Communication to Those Charged with Governance. 65 <br /> 66 <br />It was noted that the council had more fully reviewed the audit results at the last work session. 67 <br /> 68 <br />Council Member Stoesz asked for Mr. Hering’s opinion on transitioning to electronic transactions 69 <br />instead of paper checks. Mr. Hering explained how that process is engaged and regulations that 70 <br />govern the process. There could be implications on the work level for city finance staff. 71 <br /> 72 <br />Council Member Rafferty asked Mr. Hering, in his experience, is there a way to get a better return on 73 <br />the City’s investment dollars; are other cities doing something better? Mr. Hering responded that 74 <br />generally the answer would be no; the cities that he works with are pretty much similar in their 75 <br />investment technique. One variable is how long you are willing to keep money in one area. He feels 76 <br />that the City is in the ballpark with what other cities are getting in returns. 77 <br /> 78 <br />Council Member Maher moved to accept the results of the 2018 audit as presented. Council Member 79 <br />Stoesz seconded the motion. Motion carried on a voice vote. 80 <br /> 81 <br />ADMINISTRATION DEPARTMENT REPORT 82 <br />There was no report from the Administration Department. 83 <br /> 84 <br />PUBLIC SAFETY DEPARTMENT REPORT 85 <br /> 86 <br />There was no reports from the Public Safety Department. 87 <br /> 88 <br />PUBLIC SERVICES DEPARTMENT REPORT 89