Agenda Packets - 1986/01/22 - Laserfiche WebLink

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Janu.iry 16, 190b Page 1 Each year since I benan my employm,•nt with the City in 1478 Finance Department staff has had to assume additional auties as mandated by various Federal and State regulations. These are very apparent at audit time. Staff has had to prepare an,i maintain during the year more work papers and schedules for the Auditors so that they may check the City's legal compliance with these various rules and regulations. Some of the iltl)le IY.eut .oitulatlurlti that w.- lt.r/e had to Ooal with involved the handicapped requirements under Federal Revenue Sharing, Davis -Raton Nrge requirements under Revenue Sharing and State and Federal Grants that we have received, State Auditor's Finanrial Reporting Requirements and State Anditor's Requirements for publication rA ad,pt,d budgets. I.E. have found that the tasks of preparing the annual financial statements as well as preparations for the annual audit have become a year round task. If we were not performing these tasks on a year round basis the preparation of The annual financial statements and preparatrnn of various audit work papers and schedules would have to be contracted tc our auditing firm in the form of accounting services. I feet that the addition of a full-time accounting clerk will enable the City to continue to perform these duties in house rather than contracting for them. This will enable the City to either reduce or slow the increase in audit costs over a number of years. And the new regulations keep coming in. ! vas recently informed by our Auditors that the Minnesota State Auditor has issued an audit guide which is 150 pages in length prescribing additional audit tasks fcr our Auditors to perform during the conduct of our annual audit. This will result in Finance Department staff maintaining records or preparing additional schedules for the Auditors. It is for the above reasons that I believe that a fu:l-time accourting clerk is needed. DB/ds I