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This schedule summarizes findings and recommendations relating to compliance with Minnesota Statutes. <br />The auditor, Malloy, Karnowski, Radosevich & Co., P.A., is responsible for providing the information <br />under the heading "Finding and Recommendation." The City of Ramsey is responsible for providing the <br />information under the heading "Management's Response." <br />FINDING AND RECOMMENDATION <br />1. Finding <br />CITY OF RAMSEY, MINNESOTA <br />Schedule of Findings and Recommendations <br />Year Ended December 31, 1993 <br />Minnesota Statutes § 118.005 requires each depository of City funds to be designated by its <br />treasurer or chief financial officer, if the City Council has authorized them to make such <br />designation. New accounts opened during the year ended December 31, 1993 at financial <br />institutions were not among those designated by the City Council at the beginning of the year. <br />2. Cause of Finding <br />The City Council did not approve depositories of new accounts opened during the year. <br />3. Ouestioned Costs <br />Not applicable. <br />4. Current Year vs. Prior Year <br />This is a current year finding. <br />5. Recommendation <br />Management of the City should establish procedures to ensure that any new depositories used by <br />the City during the year are approved by the City Council. <br />MANAGEMENT'S RESPONSE <br />We concur with the auditor's recommendations. All depositories are now approved by Council resolution <br />at the beginning of each year. Any additions during the year will be approved individually by Council <br />resolution. <br />