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<br />City Council Regular Meeting - OS/22/06 <br />Minutes - Page 14 <br /> <br />Finance Director Chris Miller introduced Jim Eichten; and noted <br />that, following the presentation, formal Council action was <br />required, accepting the 2005 Annual Financial Report. <br /> <br />Jim Eichten, Malloy, Montague, Karnowski, and Radosevich, <br />and Company, P.A. (MMKR) <br />Mr. Eichten introduced the 2005 annual financial report <br />documents to the City Council, noting State Statute requirement <br />for a summary of the audit report and process to be heard by the <br />City Council. <br /> <br />Mr. Eichten proceeded to review the Comprehensive Annual <br />Financial Report for the City of Roseville for the year-ended <br />December 31, 2005. Mr. Eichten noted that an audit, in <br />accordance with federal audit standards, had also been <br />conducted, due to the substantial monies received by the City for <br />pathway projects. <br /> <br />Mr. Eichten brought to the Council's attention, four highlighted <br />items for Council awareness and future consideration, with three <br />of them carryover findings from prior audits. Those comments <br />were related to: employee recognition events; Police Department <br />fines and penalties at lower rates than state law; declarations for <br />when the City makes any and all payments included on <br />electronic fund transfers; and the need to provide public notice <br />when the City seeks Requests for Proposals (RFP's), and one <br />omission when the City sought proposals for group health <br />Insurance coverage. <br /> <br />Mr. Eichten noted that the last item, public notice for RFP's, was <br />the only new item this year, and staff had made corrections to <br />ensure public notice was provided at the next proposal. <br /> <br />Mr. Eichten noted that, while these findings were important to <br />note, they were nothing to be overly concerned with; and that <br />overall, the City records were found to be in good condition, and <br />that documentation of financial activities was well done, and <br />audit information provided by staff as requested. <br />Mr. Eichten addressed several important aspects for City Council <br />information, including standard auditing procedures; the need for <br />