Laserfiche WebLink
ARDEN HILLS CITY COUNCIL – MAY 26, 2020 2 <br /> <br />3. RESPONSE TO PUBLIC INQUIRIES <br /> <br />None. <br /> <br />4. PRESENTATION <br /> <br />A. 2019 Financial Statements <br /> <br />Aaron Nielsen, MMKR, provided the Council with a presentation on the City’s 2019 audit and <br />financial statements. He explained the City received a clean or unmodified opinion on its 2019 <br />financials. He reviewed the General Fund in detail with the Council noting revenues and <br />expenditures from the past year. He then discussed the City’s enterprise funds. He commended <br />the City on its strong financial position and asked for comments or questions. <br /> <br />Councilmember Holmes questioned if there was anything the City could do to further delegate <br />the financial responsibilities. <br /> <br />Mr. Nielsen stated it was not unusual for a City of this size to have a smaller financial <br />department. He believed Arden Hill’s staff was incorporating the appropriate steps to have the <br />proper checks and balances in place. He explained it was more challenging with respect to capital <br />assets or journal entries, to ensure that transactions are posted accurately. He stated he could look <br />at this process again next year if there are additional controls that could be put in place. <br /> <br />Finance Director Bauman indicated this was a common comment for cities the size of Arden <br />Hills. She discussed how journal entries are made by two people and how other tasks were signed <br />off by two different staff members. <br /> <br />Councilmember Holmes supported the Council discussing this issue further to avoid future audit <br />concerns. <br /> <br />Mayor Grant questioned how large the City’s financial department would have to be in order to <br />eliminate the segregation of duties concern. <br /> <br />Mr. Nielsen reported two or three additional staff members might be required. <br /> <br />Mayor Grant thanked Mr. Nielsen for his report. He requested staff place the segregation of <br />duties item on the July worksession for further discussion. <br /> <br />5. STAFF COMMENTS <br /> <br />A. Rice Creek Commons (TCAAP) and Joint Development Authority (JDA) Update <br /> <br />City Administrator Perrault provided an update on TCAAP stating litigation with Ramsey <br />County was ongoing. <br /> <br /> <br />