Agenda - Council - 08/08/1989 - Closed Executive Session and Regular Meeting

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Fixed Asset Records The Personnel Coordinator is currently making arrangements for an intern to work in the Finance Office this tall. With the assistance of this intern, our Accounting Technician will take a physical inventory of all fixed assets, asset numbers will be assigned where missing, and the records will be verified. In addition, a more detailed record keeping system will be installed. ~pecial Assessments The special assessment data base has been successfully converted to the new system and is operative. At year-end 1989, the City will be in a position to record all outstanding assessmenl balances on its general ledger. purchase Order System The Finance Office will be drafting a purchasing policy for council review at the first regular council meeting in September. Inadequate Collateral Administrative Services personnel now notify the Finance Officer of any checks received that exceed Fifty Thousand Dollars ($50,000.00) This information is generally available by noon or shortly thereafter; therefore, the bank can be notified of additional collateral required before the close of the business/banking day. Deposits Payable - Water Meter~ We are in agreement with your recommendation and will prepare a resolution for council approval that declares all deposits are non-refundable fees charged for the use of the City's meters. Employee Benefit Compliance Requirements - Section 89 The Personnel Coordinator is currently reviewing the City's employee benefit plans, the Qualification Rules and Nondiscrimination Tests of Section 89. A summary report will be prepared for council review. The City would like to thank you and your audit staff for the team spirit that existed throughout the audit. The audit was a positive experience for the Finance Office, and this is a credit to you and your staff. Sincerely, Sandra Ashley Finance Officer SA/jmt