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a� 0 <br />-y <br />1 <br />City of Mounds View Staff Report <br />Item No. 5.E. <br />Meeting Date: October 12, 2020 <br />Type of Business: Council Consent <br />City Administrator Review: <br />To: Honorable Mayor and City Council <br />From: Mark Beer, Finance Director <br />Item Title/Subject: Resolution 9320 Authorizing Policies and Procedures for <br />Federal Awards Administration <br />The City received a CARES Act Federal Grant of $1,004,135. Federal grant awards over <br />$750,000 require the recipient to have performed a Single Audit conducted by the City's <br />independent auditor. In addition, the City will need to adopt policies and procedures for federal <br />grant awards administration. Staff has attached the proposed policies and procedures that will <br />satisfy federal Single Audit requirements. Staff has included $4,500 in the 2021 draft budget to <br />cover the additional cost of the Single Audit. Staff recommends approval of the attached policies <br />and procedures. <br />Strategic Plan Strategy/Goal: <br />Operate under a balanced budget that meets the needs and goals of the community. <br />Financial Impact: <br />$4,500 increase in annual audit budget. <br />Respectfully Submitted, <br />Mark Beer, Finance Director <br />