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City Council Regular Meeting Minutes <br />May 22, 2007 <br />Page 2 <br />1 that Newsweek Magazine would be publishing a list of the best schools in the nation. He stated <br />2 St. Anthony Village High School ranks number 429 out of the best 1200 schools in the nation. <br />3 Mayor Faust thanked Mr. Keith, school administration, students, and parents and stated the <br />4 community and Council would continue to support the efforts of each student as they take the <br />5 reins of the future. <br />6 <br />7 IH. CONSENT AGENDA <br />9 A. Consider Approval of the May 8, 2007 Council Mectine Minutes. <br />10 B. Consider Licenses and Permits. <br />11 C. Consider payment of claims. <br />12 <br />13 Motion by Councilmember Stille, seconded by Councilmember "fhuesen, to approve the Consent <br />14 Agenda. <br />15 <br />16 Motion carried unanimously 4/0. <br />17 <br />18 IV. PUBLIC III:ARINGS. <br />19 <br />20 None <br />21 <br />22 V. REPORTS FROM COMMISSION AND STAFF. <br />23 <br />24 None <br />25 <br />26 VI. GENERAL POLICY BUSINESS OF THE COUNCIL. <br />27 <br />28 A. Resolution 07-041: Approving the 2006 Audit <br />29 <br />30 Ms. Peggy Moeller, HLB Tautges Redpath Ltd, presented the results of the 2006 Audit Review. <br />31 She stated the reports issued include the Comprehensive Annual Financial Report, the Audit <br />32 Management Letter, the Report on Internal Controls, and the State Legal Compliance Report. <br />33 <br />34 Ms. Moeller reported the Comprehensive Annual Financial Report contains the financial <br />35 statements and footnotes. She explained that financial reports are the responsibility of <br />36 management, whereas the independent auditor reports on the fair presentation of the financial <br />37 statements. She reported the City received a "Clean Opinion" on the 2006 financial statements. <br />38 <br />39 Ms. Moeller reported the State Legal Compliance Report is required by Minnesota Statute. She <br />40 explained the Office of the State Auditor (OSA) established a task force to develop audit <br />41 guidelines for legal compliance. She stated the audit guide covers seven categories: contracting <br />42 and bidding, deposits and investments, conflicts of interest, public indebtedness, claims and <br />43 disbursement, other miscellaneous provisions and tax increment financing. <br />44 <br />45 Ms. Moeller reported the City received two compliance findings based on tests performed. She <br />46 indicated Staff is in the process of implementing corrections. <br />