Laserfiche WebLink
244 <br />COUNCIL WORK SESSION JUNE 27, 1994 <br />verses budgeted by bond issue. This is a very positive report. <br />Page 31, is a discussion of the Utility Fund. Sewer and Water <br />accounting is now separated so that each utility area can be <br />monitored. This allows the City Council to determine if rate <br />increases are necessary. <br />Page 33, is a discussion of how the Metropolitan Waste Control <br />Commission fees impact the overall Utility Fund. <br />Page 37, addresses the current gas franchise with the City of <br />Circle Pines. The City currently receives 7% of the sales except <br />for interruptible sales which are based on 3%. <br />Page 39, describes the Federal Single Audit which is a <br />requirement of the City to obtain federal compliance if the City <br />receives over $25,000.00 in federal funds in a year. During <br />1993, the City received $68,952.00. Council Member Kuether asked <br />what the cost of the Federal Single Audit was. This information <br />was not available. Mr. Espe did note that the threshold of <br />$25,000.00 may be moved up to $100,000.00. This would mean that <br />no audit is necessary unless the City receives more than <br />$100,000.00 per year in federal funds. <br />Mr. Schumacher explained that the audit is set out in a manner <br />that shows that the City is becoming financially stronger each <br />year and that there are no "roller coaster" ups and downs. It <br />does show that the Utility Fund is weak but it also shows that <br />the City is addressing the problem. <br />Appendix A is a list of Legislative actions that may impact the <br />City. The most notable is that cities are now required to pay to <br />the county auditor the -administrative expenses incurred by the <br />county auditor for administering the collection of special <br />assessments. This may change the manner in which this City <br />handles assessments each year. Mrs. Anderson was asked to check <br />with the Anoka County Auditor to determine how this will affect <br />Lino Lakes. <br />The Council thanked Mr. Espe for his presentation. <br />The meeting adjourned at 6:35 P.M. <br />These minutes were considered, corrected and approved at the <br />regular City Council meeting held on July 11, 1994. <br />PAGE 3 <br />