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1 <br />1 <br />1 <br />COUNCIL MEETING JUNE 26, 1995 <br />An inventory of all assets over $500.00 would identify assets <br />actually covered by the insurance. In addition the annual <br />financial statements will include the inventory of fixed assets. <br />The Finance Department can then apply for the Certificate of <br />Conformance. All other fixed assets will be identified at the <br />discretion of the head of each department however, no value will <br />be placed on them. <br />In 1994, the City Council authorized the purchase of fixed asset <br />software system. The software system is here and staff is ready <br />to begin entering all fixed assets. Stickers to be applied to <br />the individual fixed asset are bar coded so that eventually the <br />wand can be purchased and bar code all fixed assets. <br />Staff has already started identifying and placing stickers on <br />fixed assets at City Hall. The project will not take long. When <br />identifying and labeling fixed assets is completed, a computer <br />report will be generated. The Finance Department will be able to <br />identify all fixed assets and know where they are located. The <br />inventory of fixed assets will be taken annually to prove <br />accountability. <br />Council Member Kuether moved to approved the General Fixed Assets <br />Policy and Procedures as submitted. Council Member Elliott <br />seconded the motion. Motion carried unanimously. <br />CITY ENGINEER'S REPORT, JOHN POWELL <br />Consideration of Resolution No. 95 - 76 Approving Plans and <br />Specifications and Authorizing Advertisement of Bids for the 1995 <br />Sealcoating Program - Mr. Powell explained that sealcoating of <br />roadways within the City is a maintenance item which is budgeted <br />for on a yearly basis by the City. Applying a thin coat of <br />aggregate to an existing roadway helps extend the usefulness of <br />the roadway by providing a new driving and wearing surface. <br />Included in this year's project are roadways within Sunnygate, <br />Third Addition and Fourth Addition, Carole's Estates, Second <br />Addition, Lakeview Woodlands, and on 77th Street and 79th Street. <br />The total quantity of sealcoating is about 78,000 square yards. <br />Mr. Powell recommended that the City Council approve Resolution <br />No. 95 - 76 for the 1995 sealcoating program. <br />Council Member Kuether moved to adopt Resolution No. 95 - 76. <br />Council Member Elliott seconded the motion. Motion carried <br />unanimously. <br />Resolution No. 95 - 76 can be found at the end of these minutes. <br />PAGE 25 <br />1 3 I <br />