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COUNCIL MINUTES JUNE 13, 2005 <br />APPROVED <br />• 46 <br />47 ITEM ACTION <br />48 <br />49 A. CONSIDERATION OF EXPENDITURES: <br />50 <br />51 i) June 13, 2005 (Check No. 73847 - <br />52 74027, $385,338.73). Approved <br />53 <br />54 ii) Centennial Fire District (Check No. 14750 - <br />55 14767, $5,640.31) Approved <br />56 <br />57 B. CONSIDERATION OF MINUTES OF <br />58 APRIL 20, 2005 COUNCIL WORK SESSION Approved <br />59 <br />60 C. CONSIDERATION OF MINUTES OF <br />61 APRIL 25, 2005 CITY COUNCIL MEETING Approved <br />62 <br />63 D. CONSIDERATION OF MINUTES OF <br />64 MAY 4, 2005 COUNCIL WORK SESSION Approved <br />65 <br />66 E. CONSIDERATION OF MINUTES OF <br />di67 MAY 9, 2005 CITY COUNCIL MEETING Approved <br />68 <br />69 F. CONSIDERATION OF MINUTES OF <br />70 MAY 18, 2005 COUNCIL WORK SESSION Approved <br />71 <br />72 G. CONSIDERATION OF MINUTES OF <br />73 MAY 23, 2005 CITY COUNCIL MEETING Approved <br />74 <br />75 FINANCE DEPARTMENT REPORT, AL ROLEK <br />76 <br />77 A. 2004 Audit Report <br />78 <br />79 Finance Director Rolek introduced Brock Geyen of Larson, Allen, Weishair & Company, LLP, who <br />80 was in attendance to present the 2004 annual report. <br />81 <br />82 Mr. Geyen stated he is not the principal for the Lino Lakes audit, but he met with some of the Council <br />83 last week. He indicated that as part of the audit they prepare the City's Annual Financial Report, as <br />84 well as other reports required covering the City's legal compliance with State and Federal statutes, the <br />85 City's internal control structure, and a SAG 61 letter, which is a required communication from <br />86 auditors to the City Council. <br />87 <br />88 Mr. Geyen indicated the City was issued a clean report, meaning there was nothing that had to be <br />• 89 qualified during the audit testing, no significant fund reductions or unexplainable losses, and no <br />90 recordable incidents. He stated the City's bond rating improved to AA -1 during 2004. <br />2 <br />