Agenda - Council - 05/09/1995 - Laserfiche WebLink

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5.4 FEBRUARY 1995, WAS NOT INCLUDED DUE TO AN ERROR IN THE 4M FUND. RECEIVED THE FEBRUARY 1995 MEREDITH SU13SCI-4BER REPORT. 7 ayes - 0 nays. Motion carried. 4.1 FEBRUARY 16, 1995 MEETING MINUTES . B. Johnson requested that the minutes be amended to show that he voted against 5.3 Allowing the rates to go into effect April 1, 1995 (Accounting Order). Motion was made by B. Johnson, seconded by M. Johnson to APPROVE THE MINUTES WITH CHANGE. 7 ayes - 0 nays. Motion carried. Brhce Johnson left at 5:10. NEW BUSINESS - 5 5.1 Audit Update Ken Muellerleile would cover both the .Comrfission and Access audits at this time. He explained that the reports submitted to the Commissioners were clean, unqualified reports. There were very few changes from the preliminary reports and these were mostly verbal. The cash basis section is approved by the Commission on a monthly basis. These accruals are timing differences from the Cash Flow and the Accrual Statements. Meredith's franchise fees are shown on the accrual as the money was earned in 1994 but not paid till 1995. I I I I I I I The Balance Sheet shows the operating liquid funds. The Statement of Support states documentation's were check and controls are in-force. Jacobson asked where the legal fees that were reimbursed in 1994 were added? In 1994, the amount was shown as a miscellaneous income and in 1995 in is part of the beginning operating balance. Nagel asked whether the $207,000 in unallocated capital would keep QCTV active? Muellerleile stated that the dollar shows the money earned but that the sequence of funds are approximately 3 to 6 months frOm earned to received. I I I I I I