Agenda Packets - 2005/08/22 - Laserfiche WebLink

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Mounds View City Council July 11, 2005 Regular Meeting Page 7 City Administrator Ulrich stated that he would have to research the expenses and would provide 1 Council with an update on the details. He stated that they did have an audio system upgrade 2 noting that he would clarify the details and update the Council. 3 4 MOTION/SECOND. Gunn/Flaherty To approve the Just and Correct Claims as presented. 5 6 Ayes - 5 Nays – 0 Motion carried. 7 8 8. COUNCIL BUSINESS 9 10 A. Resolution 6577 Approve 2004 Certified Annual Finance Report. 11 12 Aaron Nielsen, Audit Manager, thanked Staff for the assistance in the audit process. He 13 referenced three documents including the Financial Statement, which was prepared by the City, 14 the second is the Special Purpose document and the third document is the Management Report. 15 He provided the Council with an overview of the Management Report noting that the report they 16 issued is an unqualified opinion, which is the cleanest opinion they could provide. He reviewed 17 the government auditing standards noting that they have no instances of non-compliance to 18 report. 19 20 Mr. Nielsen stated that in the final opinion they have identified three separate findings, one for 21 claims and disbursements, one related to group insurance and one related to administrative 22 penalties. He stated there are additional details included in the Special Purposes Audit Report. 23 He stated that there were no changes in this years’ Significant Account Policies for this years 24 report noting that this is the second year the City is reporting a financial document under the 25 Gasby 34 Reporting model. He noted that under Audit Comments there are items identified 26 during the process that they would like to see improvements made. He stated that it also includes 27 suggestions that Staff could use to determine what would be most viable in their use for reporting 28 purposes. 29 30 Mr. Nielsen referenced the resolution documentation noting that he does believe there is enough 31 information presented to Council that allows them to identify and understand what is being 32 presented and passed although in the minutes, what they read to identify what is happening there 33 are certain cases where they are not clear on what is actually happening with respect to certain 34 projects and how they would be financed. He stated that the other instances involve the bid and 35 quote process for projects. He stated that they want to be sure that they are following the bid 36 laws versus the less restrictive quote process. 37 38 Mr. Nielsen noted page three moves into funding Cities in Minnesota and at the time of printing 39 the report to make the June 30th deadline there wasn’t any finalized legislation to report on. He 40 stated that they have identified the property taxes and have disclosed the market values in the 41 cities have been increasing and reviewed the percentages with Council. He referenced page four 42 noting that it presents a table and graph of the City of Mounds View property by type and 43 reviewed the average tax rate noting that it was consistent with the rates in 2003. 44 45