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Regular City Council Meeting Monday,April 23, 2012 Page 8 in this case the City of Roseville — was prohibited from taking any action on preliminary plats pending petition review. Mayor Roe clarified that the original action coming before the City Council had been consideration of the Preliminary and Final Plat for the Wal-Mart develop- ment project. McGehee moved, Pust seconded, granting the City of Roseville, as the Respon- sible Government Unit (RGU) pertaining to the citizens' petition for an Envi- ronmental Assessment Worksheet (EAW) for the proposed Wal-Mart store at County Road C and Cleveland Avenue, an additional fifteen (15) business days to decide whether the requested EAW is to be required. Roll Call Ayes: McGehee; Johnson; Willmus; Pust; and Roe. Nays: None. 9. General Ordinances for Adoption 10. Presentations a. Accept 2011 Audit Report and Financial Statements Finance Director Chris Miller introduced Mr. Matt Mayer from the firm of Kern, DeWenter, Viere (KDV) to provide an overview of the 2011 Annual Fi- nancial Report, as well as the audit process itself and any required disclosure and/or findings. Materials referenced included: Comprehensive Annual Financial Report for the fiscal year ended December 31, 2011; Reports on Compliance with Government Auditing Standards OMB Circular A-133 Single Audit and Legal Compliance for and Management Letter for the year ended December 31, 2011. For the benefit of the audience and the listening public, Mr. Mayer advised that discus- sion items from the report would be displayed as a Power Point. Mr. Mayer acknowledged Finance Director Chris Miller and Assistant Finance Director Brenda Davitt for their assistance before, during and after the annual audit. Mr. Mayer reviewed Audit Findings and Recommendations regarding fi- nancial controls; including Prior Period Adjustments and Current Year Legal Compliance Findings. Councilmember Pust sought clarification, with Mr. Mayer and Mr. Miller re- sponding, regarding budgeted versus actual expenditures in the General Fund and a reasonable variance range of 2-4% on the conservative side, with the City of Roseville's range at approximately 4% over on the revenue side and 5% un- der on the expense side; and how those contingencies compared to the City's Fund Balance Policy.