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Mounds View City Council Apri126, 2004 <br />Regular Meeting Page 15 <br />• <br />• <br />• <br />Finance Director Hansen indicated that the finance department is now working on the audit for <br />2003 and writing the annual financial report. He then reminded Council that this is the year to <br />implement the new financial reporting format and Staff may need to utilize the budgeted funds <br />for extra help from the auditor rather than continue to fall behind schedule. <br />Finance Director Hansen indicated that the department is continuing to work on a long range <br />financial plan and sent out utility bills for the first quarter of the year. He then said that the <br />second quarter will be sent out in three months and the variable sewer rate will be implemented <br />based on winter consumption. <br />Finance Director Hansen indicated that Staff is working on insurance policies for the year and <br />asked whether Council would again like to consider dropping the policy on the van because it <br />costs $6,000 per year to insure, maintain and add money into the budget for replacement of the <br />van. The insurance policy alone rose to $2,700 for last year. He then suggested it maybe more <br />economical for the City to rent a van for the limited number of times per year that the van is <br />used. <br />Finance Director Hansen indicated that during the last two years the van was driven 300 miles <br />per year. He then said that he has to provide information on the policies to the insurance <br />company within the next few weeks and the policy is for 12 months so the time to decide <br />whether to insure the van is now, not in the fall. <br />Council Member Quick asked for what and when the van is used. <br />Finance Director Hansen indicated that Staff has been logging usage and will provide the <br />information to Council. <br />Council Member Marty asked when the insurance policy is renewed. <br />Finance Director Hansen indicated that the policy is dated July 1, 2004 but Staff has to submit <br />information by June 1, 2004. <br />Council asked that this matter be discussed at the next work session. <br />Finance Director Hansen indicated the City was recently notified that for the annual financial <br />report 2002 the City has received a certificate of achievement for excellence in financial <br />reporting which is the highest award that can be received in government and it reflects well on <br />the City and he would like to thank the employees and the auditors who helped. <br />Mayor Linke thanked Finance Director Hansen and the Staff and auditors on behalf of the <br />Council for the efforts <br />