Agenda Packets - 1994/02/07 - Laserfiche WebLink

Home Browse Search

1993 FINANCE DEPARTMENT ANNUAL REPORT Activities The year began with the preparation of the Comprehensive Annual Financial Report for the year ended December 31, 1992 and Finance Department Staff assisting the auditors in the conduct of their annual audit of the financial records of the City. The City received an unqualified opinion from the auditors that ... The general purpose financial statements ... present fairly, in all material respects the financial position of the City of Mounds View... and the results of its operations and its cash flows of its proprietary fund types for the year then ended in conformity with generally accepted accounting principles." The City's Comprehensive Annual Financial Report was submitted to the Government Finance Officers Association for consideration for a Certificate of Achievement For Excellence in Financial Reporting. In early December we received word that the City would be granted another Certificate. The City has received this Certificate for its Financial Report each year since 1988. The accompanying Management Report and Recommendations contained no significant findings or recommendations. The follow up on two minor items should be commented upon. One recommendation was to determine the status of outstanding checks that the City has issued. The City follows the procedures outlined in the Minnesota Unclaimed Property Act. That Act requires that the City make a good faith effort to locate the owners of unclaimed property and to notify them that they have unclaimed property. If the owners can not be located the City reports that fact to the State, who attempts to locate the owners through advertisement in newspapers throughout the State. In the event that the owners can not be located the unclaimed property is forfeited to the State of Minnesota The other recommendation is to determine the status of MSA Projects and to seek reimbursement where applicable. Public Works Supervisor Uhich, Steve Campbell of SEH, and I have been working on this throughout the year. The County Road I project has been finalized and reimbursements applied for on Highway 10 signalization projects and the Long Lake Road Project. A 1993 Budget Calendar was adopted by the Council in April and work was begun on the 1993 Long Term Financial Plan. The Plan was adopted in August An upgrade in the City's utility billing software was purchased from Computoservice, Inc. and installed for the second quarter billing. The new software has given the City faster processing speeds and has maintenance features which have allowed greater efficiencies in the billing process. The new system also allows for self mailer envelopes with return envelopes, which replaced the postcard billing The system also allows a note screen for each customer which allows keeping customer data in the system which was formerly kept manually and apart from the system.