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internal controls during the coming year. Also discussed were possible changes to <br />the financial report for 2001, which will be the result of the coming audit. It should <br />be understood that the Finance Department is in a transition period that will go on <br />for at least a year, if not two. <br /> <br />The possible 2001 financial report changes are as follows: <br /> <br /> Reclassify the Street Lighting Fund and the Surface Water Fund as utilities <br />in the Enterprise Funds section of the report instead of the Special Revenue <br />Funds section. <br /> <br /> Reclassify the Park Dedication Fund, the Special Projects Fund, and the <br />Street Improvement Fund into the Capital Project Funds section of the <br />report instead of the Special Revenue Funds section. <br /> <br /> Change the recording of tax increment revenues so that the revenues and <br />any surplus balance are in funds in the Special Revenue Funds section of <br />the report instead of the debt service funds. The debt service funds should <br />only have resources necessary for the next year’s principal and interest. <br /> <br />These changes and other issues will be thoroughly examined during the upcoming <br />audit. <br /> <br /> <br />Respectfully Submitted, <br /> <br /> <br /> <br /> <br />Charles Hansen