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Mounds View City Council May 24, 2010 <br />Regular Meeting Page 2 <br />Ma or Flahert thanked Pat for bringing this information to the City and encouraged residents to • <br />Y Y <br />request to see a City pernut from any solicitor in the City. All those approved to sell in Mounds <br />View will have a permit with them at all times. <br />6. SPECIAL ORDER OF BU5INE5S <br />A. 2009 Audit Presentation by Aaron Nielsen, CPA, Principal — Malloy, <br />Montague, Karnowski, Radosevich, & Co., P.A. <br />Aaron Nielsen, CPA with Malloy, Montague, Karnowski, Radosevich & Co., introduced himself <br />to the Council and reviewed the 2009 year-end audit in detail. Mr. Nielsen reviewed the <br />management report under the audit summary stating the audit was offering a clear and unbiased <br />opinion to the City. He further discussed the t�able income trends over the past 10 years. The <br />average tax rate was below the 2008 rate and below the state-wide averages. <br />Mr. Nielsen stated the overall financial position of the City at the end of 2009 was great. The <br />2009 budget was only off by $101,000 as revenues were under-budget by $320,000. Expenses <br />were reduced in 2009 by $65,000. The City has posted positive equity for 2009 and the net <br />assets increased over the year. He reviewed several accounting updates the Council should <br />expect to be implemented in 2011 and with that asked the Council for any questions or <br />comments. <br />Council Member Stigney asked if the public safety expenses included both the police and %re • <br />department. Mr. Nielsen explained both entities were included in the public safety expenditures. <br />Mayor Flaherty thanked Mr. Nielsen for the report, along with the entire Finance Department for <br />the great work completed for the City. <br />B. Senator Betzold and Representative Tillberry Speak to the City Council <br />about the 2010 State Legislative Session <br />Representative Tillberry updated the Council as to what occurred in the 20101egislative session. <br />He stated the session did end on time and the budgetary deficit was the main concern. A <br />balanced approach had to be taken because the State could not spend or cut its way out of the <br />deficit. Instead, the State needed to reduce, reform and create additional revenue. <br />Representative Tillberry explained many of the previous unallotments were held even after the <br />Supreme Court decision given the time frame. The deficit situation will remain to be difficult as <br />payment delays were approved and would carry over to the next session. A special session was <br />not looked upon favorably. He indicated that in the end as the state continues to reduce and <br />reform governmental expenditures the budget situation will be easier to balance. In addition, as <br />revenues continue to increase through income taxes this would assist with the deiicit. <br />Senator Betzold thanked the Council for their time and stated the legislative session was • <br />extremely busy. The Senate looked at passing a job bill, a more strict DWI initiative, along with <br />