Agenda Packets - 2004/05/10 - Laserfiche WebLink

Home Browse Search

Mounds View City Council April 26, 2004 Regular Meeting Page 15 1 Finance Director Hansen indicated that the finance department is now working on the audit for 2 2003 and writing the annual financial report. He then reminded Council that this is the year to 3 implement the new financial reporting format and Staff may need to utilize the budgeted funds 4 for extra help from the auditor rather than continue to fall behind schedule. 5 6 Finance Director Hansen indicated that the department is continuing to work on a long range 7 financial plan and sent out utility bills for the first quarter of the year. He then said that the 8 second quarter will be sent out in three months and the variable sewer rate will be implemented 9 based on winter consumption. 10 11 Finance Director Hansen indicated that Staff is working on insurance policies for the year and 12 asked whether Council would again like to consider dropping the policy on the van because it 13 costs $6,000 per year to insure, maintain and add money into the budget for replacement of the 14 van. The insurance policy alone rose to $2,700 for last year. He then suggested it may be more 15 economical for the City to rent a van for the limited number of times per year that the van is 16 used. 17 18 Finance Director Hansen indicated that during the last two years the van was driven 300 miles 19 per year. He then said that he has to provide information on the policies to the insurance 20 company within the next few weeks and the policy is for 12 months so the time to decide 21 whether to insure the van is now, not in the fall. 22 23 Council Member Quick asked for what and when the van is used. 24 25 Finance Director Hansen indicated that Staff has been logging usage and will provide the 26 information to Council. 27 28 Council Member Marty asked when the insurance policy is renewed. 29 30 Finance Director Hansen indicated that the policy is dated July 1, 2004 but Staff has to submit 31 information by June 1, 2004. 32 33 Council asked that this matter be discussed at the next work session. 34 35 Finance Director Hansen indicated the City was recently notified that for the annual financial 36 report 2002 the City has received a certificate of achievement for excellence in financial 37 reporting which is the highest award that can be received in government and it reflects well on 38 the City and he would like to thank the employees and the auditors who helped. 39 40 Mayor Linke thanked Finance Director Hansen and the Staff and auditors on behalf of the 41 Council for the efforts 42 43