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06/24/1996 Council Minutes
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06/24/1996 Council Minutes
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City Council
Council Document Type
Council Minutes
Meeting Date
06/24/1996
Council Meeting Type
Special
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• <br />• <br />SPECIAL COUNCIL MEETING JUNE 24, 1996 <br />A federal compliance report was prepared for the City. This report is required <br />when a City receives $25,000 or more in federal funds. In 1995 the City received <br />$72,452 of federal funds. The federal compliance audit was prepared as required <br />and the audit was summarized as follows: <br />Although the Lino Lakes Police Department has a drug testing program <br />and written policies and procedures for a drug-free workplace, this <br />program and its procedures had not been formally adopted by the City <br />Council and were not in effect until January 1, 1996. The City has now <br />adopted the policy and programs. <br />Summary of Recommendations for 1996: <br />Determine a financing source or delete the City property special assessment <br />receivable from the City financial records. <br />Continue to monitor the assessment collection rate and provide supplemental <br />financing if assessment collections are not adequate to meet bonded debt <br />payments. <br />Continue to request improved special assessment collection data from Anoka <br />County. <br />Continue effort to maintain the fixed asset system. <br />Consider budgeting activity in the Recreation Program Fund. <br />Continue to monitor actual versus projected area and unit assessment collections <br />to assure the debt payment requirements will be met in the Area and Unit Charge <br />Fund. <br />Continue to maintain detailed records of amounts due from developers and assure <br />that adequate deposits are received prior to incurring expenses on a developer's <br />behalf. <br />Council Member Kuether asked how the City can improve its bond rating. Mr. Espe <br />explained that Moody's looks favorably at the Certificate of Achievement. Mr. <br />Schumacher commented that they also compare current audits to previous audits. <br />Mr. Espe noted that this audit has not uncovered any serious concerns. However, as the <br />City grows, there will be additional needs. He suggested increasing the General Fund <br />Balance to accommodate the additional needs. He also suggested monitoring the Area <br />and Unit Fund balance to be sure that it will meet all future needs. <br />PAGE 3 <br />
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