04/26/1976 Council Minutes - Laserfiche WebLink

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IIIMr. Davis said these recommendations are part of the audit and he makes such recomm- endations. Prior to this he did not know, unless the recommendations had been made orally. He said most of the recommendations as presented in his letter have been instituted. April 26, 1976 had not been made previously? And why there had not been an investment schedule? Mr. Schneider asked if the closing of the books by the Auditor is normal practice and Mr. Davis said it is not an uncommon practice. Mr. Zelinka asked if a quarterly review of the bookkeeping practices of the office would not make the final audit much easier? Would there be a great difference in cost? He felt if there were corrections needed, it would be easier to make them quarterly. Mr. Davis felt the cost would be much more. Mr. Schneider said this would be just a review, not an audit. He asked what other communities do? Mr. Davis said this varies. Mr. Schnedier asked if it is not required by law that a financial report be presented to the Council by the 15th of February by the Clark? Mr. Davis said he wasn't sure and Mr. Locher checked the statutes on this. In the meantime, Mr. Zelinka told Mr. Davis that he had been unhappy with the counsel from the Auditor. Recommendations had been asked for but not received. Mr. Davis restated that he felt this is part of an audit, to make recommendations. IIIMr. Schneider asked Mr. Davis to explain the difference in the Debt #2 figures listed in the fund balances and the CD schedule. Mr. Davis said the CD schedule reflects the designation of the CD's and the fund bal- ance is the actual amount in the fund. Mr. McLean arrived at 8:55 p. Mr. Locher read the State Statutes pertaining to the financial reporting. This report must either be published or posted in three places. Mr. Schneider felt the recommendations were late in coming but he felt most had been incorporated into the bookkeeping system. Mr. Zelinka asked Mr. Davis how long he had been with the firm and Mr. Davis said about six months. Mr. Zelinka said he was glad for the attention. If thtbre had not been a change from the years before, he would have recommended looking for a new auditing firm. he would like to take some time to study this report and find time to go over some of the areas he doesn't understand with Mr. Davis. He told Mr. Davis he would contact him. Mr. Schneider asked Mr. Davis what charges would be involved in checking the avail- ability of Federal or State aid. Mr. Davis said it would depend on the work done. He had no idea of the charges. He said this kind of investigation is usually done by a City Administrator. It is necessary to go to the agencies and present the applic- ations. Mr. Davis was thanked for his time. Mr. Zelinka moved to modify the agenda to handle a health problem that exists on Andall Street. Seconded by Mr. Karth. Motion carried unanimously.