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City Council Regular Meeting Minutes <br />June 22, 2021 <br />Page 3 <br /> <br /> 1 <br /> 2 <br />III. CONSENT AGENDA. 3 <br /> 4 <br />A. Approve June 8, 2021, Council meeting minutes. 5 <br />B. Licenses and permits. 6 <br />C. Claims. 7 <br /> 8 <br />Motion by Councilmember Randle, seconded by Councilmember Webster, to approve the 9 <br />Consent Agenda items. 10 <br /> 11 <br />Motion carried 5-0. 12 <br /> 13 <br />IV. PUBLIC HEARING - NONE. 14 <br /> 15 <br />V. REPORTS FROM COMMISSION AND STAFF – NONE. 16 <br /> 17 <br />VI. GENERAL BUSINESS OF COUNCIL. 18 <br /> 19 <br />A. Presentation of 2020 Audit 20 <br /> 21 <br />Mr. Andy Hering from Redpath reviewed the results of the 2020 Audit. The following reports 22 <br />were issued: Comprehensive Annual Financial Report (including the Independent Auditor’s 23 <br />Report), State Legal Compliance Report, Report on Internal Controls and Communication with 24 <br />those charged with governance. 25 <br /> 26 <br />The audit process opinion on financial statements included: 27 <br /> 28 <br />• Audit Fieldwork – auditor performs tests to verify: 29 <br />o Occurrence: recorded transactions and events pertain to the City 30 <br />o Completeness: all transactions and events that should have been recorded have 31 <br />been recorded. 32 <br />o Accuracy, Cutoff, Classification: amounts are accurately recorded in the correct 33 <br />year and in the correct accounts. 34 <br />• Data mining techniques: 35 <br />o Journal entries. 36 <br />o Disbursement register. 37 <br />• Unmodified (“clean”) opinion on the financial statements. 38 <br /> 39 <br />The State Legal Compliance Report is required by Minnesota Statute §6.65. The OSA audit 40 <br />guide covers seven categories and there were no compliance findings. Mr. Hering reviewed the 41 <br />Report on Internal Control during which they gained an understanding of internal controls in 42 <br />place and their effectiveness in order to design the audit procedures for expressing an opinion on 43 <br />the financial statements. They did that by obtaining narratives of controls on each major class of 44 <br />transaction and account balance and performing walkthroughs and other tests to determine 45 <br />adherence to controls in place and effectiveness. The result - no internal control findings. 46 <br />3