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City Council Regular Meeting— 08/28/06 DRAFT Minutes - Page 31 Public Comment Tim Cailahan Mr. Callahan suggested that staff needed to provide information to the Council related to the development agreement and any necessary changes in terms. Mayor Klausing noted that the September 1�, 2006 regular City Council Agenda would include an item to discuss development options for the Twin Lakes Project; and staff was directed to explore and present options to the City Council at that meeting. Councilmember Ihlan requested that staff provide the status of the AUAR update, as authorizedby previous Council action. 15. Request of Councilmember Kough to discuss creating a (a) Council Audit Committee Councilmember Kough sought creation of an Audit Committee to address items brought up during the City's annual outside audit that needed attention for compliance with State law. Mayor Klausing addressed his perspectives on policy duties of an Audit Committee; and offered to explore the matter further and to meet with Councilmember Kough outside of a meeting to discuss its form and to provide a recommendation to the City Council, with input from interested resident, A� Sands. Councilmember Kough invited audience member, A1 Sands, to speak on the issue. Al Sands, 2612 Aldiue Mr. Sands advised that the Minnesota Government Finance Officer's Association (MGFOA) recommended a subcommittee for cities in order to work with an outside auditor. Mayor Klausing reiterated his desire to work with Councilmember Kough outside the Council meeting format and to bring a recommendation back to the City Council. Councilmember Ihlan offered her participation in those meetings. Councilmember Kough to discuss creating a Council Audit Committee