05-24-1999 - Laserfiche WebLink

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r CITY OF MOUNDS VIEW MEETING MINUTES MONDAY, MAY 24,1999 7:00 P.M. 1. MEETING IS CALLED TO ORDER 2. ROLL CALL: Marty, Quick, Stigney, and Thomason. NOT PRESENT: Coughlin Acting Mayor Stigney announced the birth of Mayor Coughlin's daughter, Shannon Marie Coughlin and extended his best wishes to the family. 3. APPROVAL OF MINUTES A. Monday, May 10,1999, City Council Minutes Council Member Marty said he was not present at the May 10, 1999, meeting but had several questions. He-requested a clarification on Page S,-Presentation of the 1998 Audit Report, second paragraph, indicating the General Fund balance was $3,031,784 but the next paragraph notes it is just over $300,000. Council Member Marty noted Page 6, second paragraph, indicates there wFa a $704,000 deficit in the MSA fund which was covered by a transfer. He asked why there was a deficit and where the transfer came from. City Manager Whiting stated he will ask the Finance Director for these clarifications. Council Member Marty noted Page 7, third paragraph, indicating "...at the end of the year these dollars were under collateralized by $206,000. Mr. Wischmann explained that in order to resolve that situation, funds were transferred into the 4M Fund which gained compliance with applicable Statutes." He asked where the funds came from and how it impacted the fund it was transferred from. City Administrator Whiting explained the transfer involved the transfer of those funds into another fund, the 4M fund. He explained the funds were still in the City's account, but not in the same depository. Council Member Marty reviewed the remark by Council Member Thomason on Page 9, last paragraph, regarding the theater lighting specifications and indicating "she noticed the lenses do exceed below the housing but the PUD indicates they shouldn't." He noted the minutes also • 1 CaADMIN\MINUTES\CC\5-24-99.CC