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<br />City Council Regular Meeting - OS/23/05 <br />Minutes - Page 20 <br /> <br />of investment procedures, noting investment incomes at <br />fair market value and declining interest rates, but <br />performance of longer-term investments and premiums on <br />market levels and their reflection in financial statements <br />through unamortized paper gains and losses. <br /> <br />Discussion included Administrative fees by cities for seat <br />belt and expired tab citations and the legal issue of local <br />jurisdictions retaining fees, and their relationship to State <br />Statute 169 and varying interpretations. <br /> <br />Further discussion related to the auditor's findings and <br />included best practices issues to be considered for the <br />future; those already implemented and/or corrected by <br />staff; further review of employee appreciation events and <br />potential funding mechanisms; and an administrative fee <br />charge for seat belt and expired tabs. <br /> <br />City Manager Beets suggested that the issues be considered <br />as part of the upcoming 2006 budget discussions, with <br />Council review and recommendation as they related to <br />policy. <br /> <br />Finance Director Miller suggested that, specifically related <br />to employee appreciation, and to alleviate similar findings <br />in next year's audit report; staff could perform further <br />research and provide additional information at a future <br />Council Study Session, with the involvement of the City <br />Attorney and Mr. Viere as applicable. <br /> <br />Mr. Viere offered to provide to staff for City Council <br />review, his extensive research to-date on the employee <br />appreciation/recognition findings. <br /> <br />Maschka moved, Schroeder seconded, acceptance of the <br />2004 Annual Financial Report by the firm of Kern, <br />De Wenter, Viere, Ltd. <br /> <br />Roll Call <br />Ayes: Maschka; Kough; Ihlan; Schroeder and Klausing. <br />Nays: None. <br />