06-07-2021 Council Minutes (2) - Laserfiche WebLink

Home Search

CITY COUNCIL WORK SESSION APPROVED 136 a Report on Internal Controls Over Financial Reporting; ] 37 • Report on Compliance for Each Major Program and on Intemal Control over 138 Compliance; 139 E The Single Audit (done when/because of federal funds received); 140 • American Rescue Plan Act —eligible uses; t41 • Communication to Those Charged with Governance (ever}rthing went very well); 142 • Summary of Financial Activity (table); 143 a General Fund Summary and Five Year History; Monthly Cash Balances; 144 . Enterprise Funds, Cash Flow. 145 t 46 Mr. Hering summarized the report by noting that everything went very well and there are 147 no findings to report. 148 149 Councilmember Lyden noted the receivables from the Legacy at Woods Edge and the 150 comment that staff believes that is collectible; can staff provide an update? Also how 151 can the City increase its bond rating? Administrator Cotton recalled the question of bond 152 rating was asked of Baker Tiller consultant Terri Heaton and she will be responding on 153 that; it will involve more long range planning and in general the City needs to grow and 154 develop more. The Legacy debt is internal and will work itself out over time. 155 156 Councilmember Ruhland thanked staff for a great job and the auditor for their work. ]57 ] 58 3. Electronic Municipal Payments — Finance Director Lynch reviewed her written t59 staff report. She explained that the option for these municipal payments is now available 60 through the Springbrook system that the City uses. The program doesn't have a cost but 161 credit card fees would apply for that type of payment. Staff is recommending the City t 62 cover the fee and with the idea to keep an eye on those charges. The amount of the fee is 163 noted in the staff report. 164 1 65 Councilmember Ruhland asked if there will he an opportunity to receive a check card 166 rather than a credit card so there would be a lower fee; Finance Director Lynch will look 167 into that matter. t68 169 Councilmember Stoesz noted that he works for a bank. He has had training and he 170 knows there is sensitivity about storing credit card information; Ms. Lynch said the City 171 will not be storing card data. 172 173 Councilmember Lyden asked if people can still pay with cash or check and Ms. Lynch 174 said yes those payments will be accepted. 175 176 The council concurred that staff should move ahead. 177 178 4. Liquor License Fees — City Clerk Bartell reviewed the written report. Staff is in 179 the process of receiving renewal applications for City issued liquor licenses and has been 180 looking at measures to provide relief to these businesses that have been greatly impacted