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<br /> . DRAFT <br /> . <br /> MINUTES <br /> CITY OF ARDEN HILLS, MINNESOTA <br /> WORKSESSION <br /> MAY ~9, ~994 <br /> 3:35 P.M. - Pub~ic Works Lunchroom <br /> CALL TO ORDER/ROLL CALL <br /> Pursuant to due call and notice thereof, Mayor Sather called <br /> to order the City Council worksession at 3:35 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 /> ADOPT AGENDA <br /> MOTION: Malone moved, seconded by Probst, to adopt the May ~9, <br /> ~994 worksession agenda as submitted. Motion carried <br /> unanimously (5-0) . <br /> . REVIEW PRELIMINARY ~993 YEAR END AUDIT REPORT <br /> Steve McDonald of Abdo, Abdo & Eick was introduced by City <br /> Accountant, Terry Post. Abdo Abdo & Eick represents the <br /> City'S consulting audit firm. Counsel had been provided <br /> with the ~993 Year End Audit Report and Management Letter <br /> prepared by Abdo, Abdo & Eick. McDonald drew attention to <br /> the general fund, 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 then the current <br /> balance. The purpose of the fund balance is to be working <br /> capital to finance expenditures for the first six months of <br /> the next year. Primary reason for the general fund balance <br /> decrease is that 90% of the anticipated revenue was received <br /> from general property taxes. This is due primarily to <br /> commercial and industrial property re-evaluations and <br /> petitions and abatements paid out by the Ramsey County. <br /> There is no long term outstanding debt at this time for year <br /> end. In ~994 the City levied $~2,285 to eliminate the <br /> deficit in the fire equipment certificate indebtedness fund. <br /> This levy may be used for any public purpose. <br /> . <br /> -.---.---- <br />