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<br />I, <br />I. <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />Ie <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I. <br />I <br /> <br />MINUTES <br />CITY OF ARDEN HILLS, MINNESOTA <br />WORKSESSION <br />MAY 19, 1994 <br />4:35 P.M. - Public Works Lunchroom <br /> <br />CALL TO ORDER/ROLL CALL <br /> <br />Pursuant to due call and notice thereof, Mayor Sather called <br />to order the City Council worksession at 4:35 p.m. Present: <br />Councilmembers Beverly Aplikowski, Paul Malone, Dennis <br />Probst and Dale Hicks. Also present were: City <br />Accountant, Terry Post; Park & Recreation Director, Cynthia <br />Severtson; Public Works Superintendent, Dan Winkel; and City <br />Administrator, Dorothy Person. <br /> <br />ADOPT AGENDA <br /> <br />MOTION: <br /> <br />Malone moved, seconded by Probst, to adopt the May 19, <br />1994 worksession agenda as submitted. Motion carried <br />unanimously (5-0). <br /> <br />REVIEW PRELIMINARY 1993 YEAR END AUDIT REPORT <br /> <br />Steve McDonald of Abdo, Abdo & Eick was introduced by City <br />Accountant, Terry Post. Abdo, Abdo & Eick is the City'S <br />consulting audit firm. Council had been provided with the <br />1993 Year End Audit Report and Management Letter prepared by <br />Abdo, Abdo & Eick. McDonald drew attention to the general <br />fund, which has a fund balance of $313,763. He explained <br />that the formula for fund balance indicates that $800,000 <br />would be a more sufficient fund balance than the current <br />balance. The purpose of the fund balance is to have working <br />capital to finance expenditures for the first six months of <br />the next year. Only the anticipated revenue that was <br />received from general property taxes was reviewed. This is <br />due primarily to commercial and industrial property re- <br />evaluations and petitions and abatements paid out by the <br />