Agenda Packets - 2006/02/27 - Laserfiche WebLink

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Mounds View City Council February 13, 2006 Regular Meeting Page 25 1 Police Chief Sommer presented a laser tool that is used for speed enforcement that allows the 2 officer to look through a viewfinder and get the speed instantly. He noted it can pinpoint a car 3 even in heavy traffic. 4 5 Police Chief Sommer also provided a financial report summarizing the Police Department 6 budget. 7 8 Councilmember Flaherty asked what all the 872 cases consisted of since there are only two 9 investigators. Police Chief Sommer responded some are administrative cases and they are not all 10 active cases. 11 12 2. Finance 4th Quarter Report 13 14 Finance Director Beer presented the 4th Quarter, 2005 report and explained that numerous 15 transactions remain to be posted, including interest earnings, transfers, and payables. He stated 16 that once all transactions are posted, the general fund will have a positive balance for the year. 17 18 Finance Director Beer explained that one of the issues to recognize is the recommendation by the 19 State Auditor for the fund balance to be 35-50% of the anticipated expenditures. He noted the 20 City will still be under 50% with no concerns from the State Auditor. He explained that most of 21 the revenues are at or near budget, with the exceptions being the franchise fees, which exceed the 22 budget by approximately $50,000, as well as the investment earnings which considerably exceed 23 the budget also. Finance Director Beer noted that even with the final expenditures, the general 24 fund will still be below budget expenditures. 25 26 Finance Director Beer explained that significant activity in the Community Center Fund resulted 27 in a $261,000 deficit that still needs to be posted. He stated it needs to draw down fund balance 28 to account for expenditures. 29 30 Finance Director Beer explained that the sewer rate summary for 2004 was slightly lower than 31 expected. He stated that the department continues to monitor funds and no rate increase is 32 expected for 2006. 33 34 Finance Director Beer stated the Brides Golf Course was sold on October 24, 2006 and 35 operations are terminated. He explained that outstanding bonds were called and retired. He 36 noted the only outstanding items are the salary and severance for the remaining two employees, 37 and that the fund will be closed as of the end of 2005. 38 39 Finance Director Beer stated that the Finance Department had a largely successful year in 2005. 40 He explained that the insurance policies were reviewed, a reporting service is being utilized to 41 comply with GASB 40, and a new financial software package was purchased. He stated that he 42 looks forward to improved technology to result in improved reporting and the reduction of staff 43 time. 44 45