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o Compliance within government auditing standards <br /> o Audit of legal compliance manual for Minnesota state laws and regulations <br />· Significant Accounting Policies <br />· Audit Comments <br />· IJcgislation <br />· t'roperty Taxes <br />· Governmental Funds Revenue <br />· Governmental Funds Expenditures <br />· General Fund <br /> o General Fund Revenues <br /> o General Fund Expenditures <br />· Enterprise Funds <br /> o Water Utility Enterprise Fund <br /> o Sewer Utility Enterprise Fund <br /> o Street Light Utility Enterprise Fund <br /> o Recycling Utility Enterprise Fund <br /> o Storm Water Utility Enterprise Fund <br />· City-wide Financial Statements <br />· Statement of Activities <br /> <br />Mayor Gam¢c inquired about the finding regarding internal controls. <br /> <br />Mr. Nielsen explained this relates to situations such as transactions being entered and reconciled <br />by thc same individual. <br /> <br />Finance Officer Lund commented on the recent hiring of the Assistant Finance Officer position <br />and noted the financial duties have been spread out. <br /> <br />Mr. Nielsen indicated the situation will be reviewed to see if the finding can be eliminated next <br />year. <br /> <br />Mayor Gamec suggested MMKR provide the City with suggestions on how to eliminate this <br />linding. <br /> <br />Councihnember Strommen commended Finance Officer Lund and the Finance Staff on the <br />results of the audit. <br /> <br />Councihnember Cook suggested information regarding the audit be provided to the public <br />relations consultant. <br /> <br />2) Density Transitioning <br /> <br />Comn~unity Development Director Trudgeon indicated the City is facing density transition issues <br />and staff would welcome more discussion regarding this issue. The MUSA line will soon be <br />gone, and some of the references to rural development and rural reserve zoning will go away at <br /> <br />City Council Work Session / June 28, 2005 <br /> Page 2 of 3 <br /> <br /> <br />