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City Council Regular Meeting Minutes <br /> • May 26, 1998 <br /> Page 9 <br /> 1 Morrison stated that both the budget and the profit plan will be discussed at the upcoming Work <br /> 2 Session. <br /> 3 Cavanaugh stated he would like the inventory system and the budget addressed so there would be <br /> 4 a closure to the issues raised in the Management Letter. He noted the Liquor Operations are the <br /> 5 biggest issue in the Management Letter this year. <br /> 6 Morrison explained that the liquor inventory system has been replaced,the liquor financial <br /> 7 statements are now being run on a monthly basis rather than a quarterly basis and all three liquor <br /> 8 operations have an increased profit compared to last year. <br /> 9 Cavanaugh asked if a Liquor Audit had been completed and if there was a Management Letter in <br /> 10 regard to that. <br /> 11 Mr. Bonniwell stated this could be done if requested. He noted however, that the liquor <br /> 12 operations are not a stand alone item but are included under the City's overall umbrella. <br /> 13 Mayor Ranallo requested that the extent of liability of the vendor of the liquor inventory system <br /> 14 be provided at the next Work Session. <br /> QMornson noted that Liquor Operations Manager has been with the City of St. Anthonytwo years <br /> 16 this July. When he was hired by the City,the liquor operations were in a state of flux. A liquor <br /> 17 budget had not been prepared for several years before he began working with the City. His only <br /> 18 goal as directed by Council and City Manager was to make money. Morrison expressed <br /> 19 confidence that everything will come into play if the City is patient. <br /> 20 Cavanaugh stated that the residents are'concerned that the liquor operations are making the <br /> 21 maximum profit. He noted the amount of capital which has been spent on the liquor operations <br /> 22 and expressed concern for the bottom line. <br /> 23 Thuesen asked that the Council be kept abreast of the status of the liquor inventory system. He <br /> 24 noted that much time has been wasted with this system and that the vendor fell short in many <br /> 25 areas. <br /> 26 Marks stated he would like to know how the new liquor inventory system is validated. <br /> 27 Mayor Ranallo thanked Mr. Bonniwell for his report. <br /> 28 Motion by Marks, second by Faust to approve the 1997 City of St. Anthony Audit as presented <br /> 29 by Stuart J. Bonniwell, Certified Public Accountant. <br /> 0 Motion carried unanimously. <br /> 31 <br />