CCP 05-28-1996 - Laserfiche WebLink

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I I City of Arden Hills AffX) April 12, 1996 ~ Page Eight . emTIFIEI' PUFlLIC A(XDLNTANTS I AN[l Q1NSULTANTS I Both the Water and Sewer fund reported significantly improved results of operations due to 1993 through 1995 rate increases. The cash balances of each fund increased by similar amounts. I The Water and Sewer Funds have cash balances of $424,933 and $601,016, respectively. The cash balances of each fund should be analyzed to determine appropriate cash requirements for operations, repair and maintenance and I repayment of interfund loans. Recyclinq Fund I This fund has a cash balance of $33,937 and retained earnings of $28,938. Surface Water Manaqement Fund I This fund has a cash balance of $6/221 and retained earnings of $49,821 at year end. Other Items I During the audit, we noted some deficiencies in consultant billing. If a consultant uses time reports for billing, there should be detailed identification of work performed. We recommend the City determine the I . appropriate level of detail needed to verify the work performed and implement standards to be used by their consultants. I * * * * * * I This report is intended solely for the use of management and council. The comments and recommendations in the report are purely constructive in nature, and should be read in this context. I OUr examination would not necessarily disclose all weaknesses in the system because it was based on selected tests of the accounting records and related data. I If you have any questions or wish to discuss any of the items contained in this letter, please feel free to contact us at your convenience. We wish to thank you for the continued opportunity to be of service and for the courtesy and I cooperation extended to us by your staff. ~ ~ t~ E I , April 12, 1996 ABDO, ABDO & EICK Minneapolis Office Certified Public Accountants I I . I