Laserfiche WebLink
<br /> - <br /> ~ <br /> MINUTES <br /> CITY OF ARDEN HILLS, MINNESOTA <br /> WORKSESSION <br /> MAY 19, 1994 <br /> 4:35 P.M. - Public 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 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 0 <br /> ADOPT AGENDA <br /> MOTION: Malone moved, seconded by Probst, to adopt the May 19, <br /> 1994 worksession agenda as submitted. Motion carried <br /> ~ unanimously (5-0) . <br /> REVIEW PRELIMINARY 1993 YEAR END AUDIT REPORT <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 firmo 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 0 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. The primary reason for the general fund <br /> balance decrease is that 90% of the anticipated revenue was <br /> received from general property taxeso This is due primarily <br /> to 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 /> endo In 1994 the City levied $12,285 to eliminate the <br /> deficit in the fire equipment certificate indebtedness fund. <br /> This levy may be used for any public purpose 0 <br /> ~ <br />