2016.05.24 CC Minutes - Laserfiche WebLink

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Ma} 24. 2016 Consideration of Request for Exemption fi-om LaNvkil Gambling License— Ducks Unlimited North SUbUl'ban Chapter239. 6. Consideration of Request for Temporary On -Sale Liquor License —NeNv Brighton Eagles #3718. 7. Consideration of Amendment to the On Sale Liquor License for New Brighton Eagles. 8. Consider Approving the New Administration Organization Chart. Motion by Councilmember Jacobsen, seconded by Councilmember Burg to approve the Consent Agenda as presented. 5 Ayes, 0 Nays - Motion Carried Public Hearin None. Council Business Consideration of Acceptance of the City's Comprehensive Annual Financial Report, Auditor Communication Letter and Reports on Compliance for Fiscal Year Ending December 31, 2015. Motion by Councilmember Burg, seconded by Councilmember Jacobsen to accept the City's Comprehensive Annual Financial Report, Auditor Communication Letter and Report on Compliance for Fiscal Year Ending December 31, 2015. City Manager Lotter indicated Steve Wischmann with BerganKDV and Finance Director Davitt would be presenting this item to the Council. Finance Director Davitt explained preparation of the City's Comprehensive Annual Financial Report (CAFR) for the year ending December 31, 2015, has been completed. She reported Kern DeWenter Viere (KDV), our independent auditing firm, has completed their audit of our accounting records and financial statements. They have issued an unqualified, or clean, opinion that our financial statements are presented fairly in all material respects. The auditors also have issued a Communications Letter and their Reports on Compliance with Government Auditing Standards and Legal Compliance. It was noted the Council reviewed the CAFR, the Communications Letter, and the Reports on Compliance with Government Auditing Standards and Legal Compliance at a worksession meeting prior to this meeting. Staff provided a summary of all fund balances and recommended the Council accept the Comprehensive Annual Financial Report for the year ending December 31, 2015, and the auditor's Communications Letter and their Reports on Compliance with Government Auditing Standards and Legal Compliance. Steve Wischmann, BerganKDV, commented on the audit findings and commended the City for their great financial standing. He explained the City had done a fine job managing its debt over the past eight to ten years. The components of the audit were further discussed along with the City's pension balances. He thanked staff for being well prepared for the audit and asked for questions or comments fi-om the City Council. Councilmember Bauman thanked staff fortheirgreat work. She discussed the liability within the pension fund. Mr. Wischmann provided further comment on the PERA general and police/fine fund. He indicated this was a long -tern liability that was impacted by the investment rate of return. He reiterated that this fund Pope 3 of 6 5. Exemp La\v1W (ianbl. Lic. - Ducks Unlimited Noitli SIIbUlbal Cllaptd- 239. 6. Temp. On -Sale Liciuor Lic. —NB Eaj- Ls #3718. 7. Amnd. On Sale Liq Lic. IN -New Brighton Eagles. 8. New Admin. Organization Chart. Public Hearing Council Business I. Consideration of Acceptance of the City's Comprehensive Annual Financial Report. Auditor Communication Letter and Reports on Compliance for Fiscal Year Ending December 31, 2015.