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Honorable Mayor and Members of the City Council City of St. Anthony, Minnesota • Liquor Inventory System, continued Based on discussions with the, liquor manager, inventory test counts will be utilized frequently throughout the year to monitor inventories. That is one of the advan- atages of an inventory system, however, the importance of observing and taking of a physical inventory at least once a the year, preferably as close to year-end as possible, can not be over stressed. A complete physical inventory needs to be taken at year end, in addition to the periodical inventory test counts. test counts. Other Matters Park Dedication Fees - Currently, the City does not have a policy concerning park dedication fees for new developments within the City. Typically, cities require developers to pay a park dedication fee which can then be expended by the City for park improvements. Staff should investigate the possibility of establishing a park dedication fee policy. Tax Increment District - The Kenzie Economic Development District has been decer- tified for several years. The remaining balance in this district of $238,781 should be refunded to the County. This recommendation has been confirmed by the City's legal counsel . Interfund Balances - The interfund balances between the City nd the Housing and Y 9 Redevelopment Authority should be repaid during the year. If the Council wishes, I would be pleased to meet and discuss any of the observa- tions, comments, or recommendations mentioned or other matters pertaining to the audit with the Council or management at your convenience. If the City desires, I am available to assist with the implementation of any of the recommendations. I wish to express my appreciation for the courtesies and cooperation extended by the City Manager, Finance Director and City personnel during the engagement. asp. Stuart 4JBiwell Certified Public Accountant