Agenda Packets - 1985/05/28 - Laserfiche WebLink

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TO: Mayor 5 Council FROM: Finance Director -Treasurer Brager GATE: May 24, 1985 RE: AUDITUR'S MANAGEMENT REPORT AND RELX MENDATIUNS The Auoitor's Management Report and Recommendations, dated December 31, 1984, contains several actions which the City should undertake during 1985. This memo shall list the recammended actions and the staff's response to them. Continue to monitor legislative actions wnicn can aaecr Lne undllrIIM UL 6.Lr government. Staff continually monitors actions of the State Legislature. This is done primarily through subscription to the Legislative Bulletin published by the League of Minnesota Cities and by virtue of membership in the League of Minnesota Cities the City receives Action Alerts fran the League advising of legislation which would affect the financing of City government. Also, staff receives weekly copies of newsletters printed by the Minnesota House and Senate while in session. Continue to monitor the collection rates of property taxes and special assessments. The City Finance Department monitors collection rates for both taxes and special assessments. This is done primarily through the recording of collections on various work sheets during the course of the year. the timeliness and data speFE assessment data provided by Ramsey County. Staff is aware of the County s recent purchase and installation of micro computers in the Department of Property Taxation. Staff is hopeful that this will result in a better quality of data about City special assessment collections. fied utility accounts receivable is levied by the County. Staff was surprised to learn that the County had not Deen aaoing uce 81 interest required pursuant to resolutions certifying delinquent utility accounts receiveable to Ramsey County for collection with property taxes. Finance Department staff will verify with Ramsey County Department of Property Taxation personnel that the interest, has in fact, been calculated and certified for collection. Continue efforts to Phase in a fixed asset system. City Finance Department staff have undertaken various efforts over the past few years to phase in a fixed asset system. These efforts include the recording of current purchases of fixed assets, the updating of insurance records so as to obtain an updated list of City buildings and properties and recently an inventory of tools and equipment of the Public Works Department was undertaken. During a recent goal setting session the Council established the installation of a fixed asset system as a City wide priority. A fixed asset accounting system is being considered for purchase during the computer feasibility study. Further information will be provided to the Council on this topic when the computer study is presented to the Council in July 1985. __-ec__......Aria 'Zara reserve balances in the City's General Fund and �.�. �. .� - -- maintaining adequate reserve balances in the General Fund and concurs withe Auditor's recommendations and rational for doing so. Attached for your consideration is a rough draft of an ordinance which would establish formulas for future desianations of fund balance of the General Fund. A copy of this proposed ordinance