2017.05.09 CC Minutes - Laserfiche WebLink

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Public Hearing None. Council Business May 9, 2017 Page 3 of 5 Public Hearing 1. Consideration of Acceptance of the City's Comprehensive Annual Financial Report, Auditor Communication Letter and Reports on Compliance for Fiscal Year Ending December 31, 2016. Motion by Councilmember Jacobsen, seconded by Councilmember Burg to Accept the Comprehensive Annual Financial Report for the year ending December 31, 2016, and the auditor's Communications Letter and their Reports on Compliance with Government Auditing Standards and Legal Compliance. City Manager Lotter indicated 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, 2016, has been completed. BerganKDV, 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. She indicated the auditors also have issued a Communications Letter and their Reports on Compliance with Government Auditing Standards and Legal Compliance. She noted the Council discussed the CAFR at their worksession meeting prior to the regular City Council meeting on May 91h. She provided the Council with an overview of the General Fund discussing the fund balance policy and negative impacts from property taxes. She reviewed the positive cash balances of the City's utility funds. She reported representatives from BerganKDV were in attendance to go over their reports in more detail with the City Council. Caroline Stutsman, BerganKDV, commented on the General Fund balance along with the revenues and expenditures for 2016. She reviewed the City's total outstanding debt and commended the City Council on their financial efforts. Mayor Johnson reviewed the amount of debt the City had currently and appreciated the efforts being made by the City. She was proud of the fact the Finance Department had received a clean or unmodified opinion on the 2016 audit. Councilmember Burg thanked staffand the City Council for their efforts. Councilmember Jacobsen agreed and commented on how the Council was working to improve the health of their fund balances. He noted the City would be funding their own street improvement projects in the near future. He was proud of the way the City was run financially. Councilmember Strub appreciated the clear transparency the Council had regarding its finances and how taxpayer dollars were being used. He believed the five members ofthe Council were working diligently on the budget each year from January through December. 4 Ayes, 0 Nays -Motion Carried 2. Resolution to Consider Bids and Award of Contracts for City Project 16-9, ACIP Procurement, and City Project 16-10, Water Treatment Plant l Expansion. Motion by Councilmember Burg, seconded by Councilmember Jacobsen to accept all bids and adopt a Resolution Awarding a contract for City Project 16-9, AOP Equipment Procurement to the best value supplier, Trojan Technologies (Trojan), in the amount of $2,678,125, Contract to be assigned to WTP 1 Expansion Contractor; and Awarding a contract for City Project 16-10, Water Treatment Plant 1 Expansion to the lowest responsible bidder, Magney Construction, Inc. in the amount of $10,973,125, Contract Council Business 1. Consideration of Acceptance of the City's Comprehensive Annual Financial Report, Auditor Communication Letter and Reports on Compliance for Fiscal Year Ending December 31. 2016. 2. Resolution to Consider Bids and Award of Contrails for City Project 16-9, AOP Procurement "City Project 16-10, Water Treatment Plant 1 Expansion.