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53 <br /> MINUTES OF THE SPECIAL MEETING OF THE HUGO CITY COUNCIL <br /> June 20, 1983 <br /> The meeting was called to order by Mayor McAllister at 5:27 PM. <br /> PRESENT: McAllister, Schwab, Peltier <br /> Also, Lu Prachar, Carole LaBelle, Ken Malloy, Don Anfinson <br /> ABSENT: Atkinson, Vail <br /> The auditors were present to discuss the 1982 audit with the Council. <br /> Discussion only on the following: <br /> 1 . Transfer balance of revenue sharing funds to the general fund. <br /> 2. Transfer balance of Water Works Improvement Bonds into the Sanitary Sewer <br /> Sinking Fund. A projected deficit of approximately $200,000 by the end <br /> of the life of this fund <br /> (NAIL ARRIVED AT 5:50 PM) <br /> 3. Consider refinancing of temporary 1981 bonds - due to expire 1984. <br /> 4. Follow guidelines of audit during budget process. Each fund revenue and <br /> expenditure. <br /> The auditors suggested implementation of a new accounting system that would eli- <br /> minate potential errors of the bookkeeper, and help in the audit process. It <br /> was the general concensus of the Council present that the city commit itsself to a <br /> program of establishing a standard of accounting, and Anfinson, Hendrickson will <br /> work with our treasurer to see that this system is ready to put in place in January, <br /> 1984. <br /> 5. Consider the transfer of money collected from the increase in sewer billing <br /> to the sanitary sewer sinking fund to help offset deficit. <br /> (ATKINSON ARRIVED AT 6:50 PM) <br /> The auditors will meet with the bookkeeper sometime in the beginning of August to <br /> set up a new budget process. <br /> MOTION: Peltier made motion, Vail seconded, to adjourn the Special Meeting at 6:55 PM. <br /> All aye. Motion Carried. <br /> • <br /> Mary eager, Clerk / <br /> City o Hugo <br />