06-28-2021 Council Packet - Laserfiche WebLink

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CITY COUNCIL WORK SESSION DRAFT 4  Report on Internal Controls Over Financial Reporting; 136  Report on Compliance for Each Major Program and on Internal Control over 137 Compliance; 138  The Single Audit (done when/because of federal funds received); 139  American Rescue Plan Act – eligible uses; 140  Communication to Those Charged with Governance (everything went very well); 141  Summary of Financial Activity (table); 142  General Fund Summary and Five Year History; Monthly Cash Balances; 143  Enterprise Funds, Cash Flow. 144  145 Mr. Hering summarized the report by noting that everything went very well and there are 146 no findings to report. 147 148 Councilmember Lyden noted the receivables from the Legacy at Woods Edge and the 149 comment that staff believes that is collectible; can staff provide an update? Also how 150 can the City increase its bond rating? Administrator Cotton recalled the question of bond 151 rating was asked of Baker Tiller consultant Terri Heaton and she will be responding on 152 that; it will involve more long range planning and in general the City needs to grow and 153 develop more. The Legacy debt is internal and will work itself out over time. 154 155 Councilmember Ruhland thanked staff for a great job and the auditor for their work. 156 157 3. Electronic Municipal Payments – Finance Director Lynch reviewed her written 158 staff report. She explained that the option for these municipal payments is now available 159 through the Springbrook system that the City uses. The program doesn’t have a cost but 160 credit card fees would apply for that type of payment. Staff is recommending the City 161 cover the fee and with the idea to keep an eye on those charges. The amount of the fee is 162 noted in the staff report. 163 164 Councilmember Ruhland asked if there will be an opportunity to receive a check card 165 rather than a credit card so there would be a lower fee; Finance Director Lynch will look 166 into that matter. 167 168 Councilmember Stoesz noted that he works for a bank. He has had training and he 169 knows there is sensitivity about storing credit card information; Ms. Lynch said the City 170 will not be storing card data. 171 172 Councilmember Lyden asked if people can still pay with cash or check and Ms. Lynch 173 said yes those payments will be accepted. 174 175 The council concurred that staff should move ahead. 176 177 4. Liquor License Fees – City Clerk Bartell reviewed the written report. Staff is in 178 the process of receiving renewal applications for City issued liquor licenses and has been 179 looking at measures to provide relief to these businesses that have been greatly impacted 180