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<br />I <br />1- CITY OF ARDEN lliLLS <br /> MEMORANDUM <br />. DATE: May 21, 1997 <br />1 TO: Brian Fritsinger, City Administrator <br />I FROM: Terrance Post, City Accountant @) <br /> SUBJECT: May 1997 Finance Department Report <br />1 Denartment Activities <br /> . The City's external auditor, Abdo, Abdo & Eick (AA&E) presented a draft report to the City <br />. Council atthe May 19, 1997 Worksession, and will presentthe final 1996 audit report to Council <br /> at the May 27, 1997 regular Council meeting. No material adjustments were made to <br /> preliminary results provided to Council at year-end. <br />I . Adopted 1997 Improvements special assessment prepayment activity concluded on May 16, <br /> ]997 with collections to the City of Arden Hills totaling $84,740.66. This level of "prepayment <br />I before certification" activity represents 41 % of the total adopted assessment rolls ($206,519.51). <br /> This is a higher collection level than in previous years, and may have benefitted from the <br /> additional "results of assessment hearing" letter incorporated into the assessment communication <br />.- process this year. <br /> . Review of first quarter billings revealed an abnonnally low surface water management (SWM) <br />1 revenue total. Investigation revealed that the square footage "consumption" basis ofthis charge <br /> was incorrectly zeroed out for about half of the commercial accounts resulting in an underbilling <br /> of approximately $15,000. Corrective action will be a first quarter adjustment added to account <br />I balances and input from our software vendor as to why parcel per square foot data was deleted <br /> by the system. <br />I June Priority Projects <br /> . Assist staff, as required, in the 1998 Budget process. <br /> . Assist the City Administrator and Community Development Director in Gateway Business <br />1 Development activities, including obtaining a bond rating, reviewing Public Improvement <br /> Project cost estimates, and preparing for a possible bond issuance. <br />I . Participate in the Fire Services Task Force. <br /> Finance Committee Update <br />1 . Although I missed the last meeting, it appears that the Committee is analyzing other city <br /> comparative Assessment Policy information as it considers making recommendations to the <br /> Council to amend Arden Hills existing Assessment Policy. In addition, the committee is trying <br />1 to address the "adequacy of funding" issue given estimated street life cycles. <br />. <br />I <br />. <br /> ~_.- ._~ <br />