05/26/1992 Council Minutes - Laserfiche WebLink

Home Search

1 1 1 COUNCIL WORK SESSION CITY OF LINO LAKES COUNCIL MINUTES MAY 26, 1992 DATE May: 2 6 , 19 92 TIME. STARTED 6 :00 P.M. TIME ENDED...:. `: MEMBERS PRESENT: Reinert, Neal, Kuether, „Elliott, Bergeson: MEMBERS ABSENT :> None Staff members present: City Engineer, Darrell Schneider; City Auditor, Fred Espe; City Administrator, Randy Schumacher and Clerk - Treasurer Marilyn Anderson. The purpose of the work session was a review of the 1991 Annual Financial Audit presented by Mr. Espe. Mr. Schumacher introduced Mr. Espe. Mr. Espe noted that he, Mr. Rob Tautges, Mr. Schumacher, Ms. Schloer and Ms. Vaske have reviewed both the audit and the management report in great depth. Mr. Espe said that he would review the audit at this time in some depth for the City Council but only highlight significant items during the regular Council meeting. Mr. Espe highlighted areas that are of concern to the City: - Delinquent special assessment collection rate is about 77%. this is due primarily to one (1) subdivision, Rice Lake Estates. (The collection rate has increased since this audit and assessments for the entire subdivision are nearly paid.) Mayor Reinert asked Mr. Espe to determine how much of the delinquency relates to 1991 and how much relates to prior years. - $95,612.00 was added to the General Fund balance. The General Fund Balance as of December 31, 1991 was $1,265,236.00. - The sewer and water operational fund continues to reflect a net decrease in retained earnings. Mr. Espe noted that this situation will change as the number of users increase. He also noted that the Metropolitan Waste Control Commission (MWCC) continues to escalate its charges to municipalities. Mr. Espe noted legislative actions that will affect the financial position of the City: PAGE 1 27