Agenda - Council - 10/09/2007 - Laserfiche WebLink

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CITY OF RAMSEY REQUEST FOR PROPOSALS FOR PROFESSIONAL AUDIT SERVICES More detailed information on the government and its finances can be found in the City's Comprehensive Annual Financial Report, annual budget, or Capital Improvement Plan. These documents can be viewed online at: www.ci.ramsey.mn.us /departments /finance or by contacting Diana Lund, Finance Officer, at (763) 427 -1410. c) Reporting Entity The reporting entity of the City is defined, for financial reporting purposes, in conformity with the Governmental Accounting Standards Board's Codification of Governmental Accounting and Financial Reporting Standards, Section 2100. Using these criteria, the following component units are included in the City's financial statements as blended component units: Housing and Redevelopment. Authority Economic Development Authority d) Fund Structure types in its financial The City of Ramsey uses the following fund typ reporting: Number with Legally Adop- ted Budgets 1 2 Fund Type General Fund Special revenue funds Debt service funds Capital project funds Enterprise funds Internal Services funds Trust and Agency funds e) Budgetary Basis of Accounting The City prepares its budgets on a basis consistent with generally accepted accounting principles. The legal level of control is at the department level. f) Magnitude of Finance Operations The City's Finance Department is headed by the Finance Officer who reports to the City Administrator and the City Council. Other members of the finance team include; Assistant Finance Officer, Accountant, Accounts Payable Clerk, and part-time Accounting Clerk. Number of Individual Funds 1 26 18 21 1 1 g) Computer Systems The City of Ramsey is a member of the LOGIS consortium. The software for general ledger, accounts payable, accounts receivable, payroll and fixed assets are integrated JDEdwards applications. The -90- Page 5 of 14