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April 26, 2022 Page 3 of 8 <br /> <br />A roll call vote was taken. <br /> <br />5 Ayes, 0 Nays - Motion Carried <br /> <br />Public Hearing <br /> <br />None. <br /> <br />Council Business <br />1. Consider Acceptance of the 1st Quarter 2022 Financial Reports. <br /> <br />City Manager Massopust indicated Finance Director Foschi would be presenting this item to the Council. <br />Finance Director Foschi stated in an effort to keep the Council informed on the City’s fiscal <br />condition, a budget to actual comparison of 2022 revenues and expenditures for the period <br />ending March 31, 2022 was reviewed. A summary of the City’s investment portfolio was also <br />discussed. The report includes an analysis of the following funds: <br /> <br />  General Fund  Water Utility Fund <br />  Sewer Utility Fund  Stormwater Management Fund <br />  Street Light System Fund <br /> <br />Finance Director Foschi reported these funds account for programs and services that constitute <br />the City’s core functions. Programs such as debt service and tax increment financing which <br />are governed by pre‐existing obligations and restricted revenues are not shown. In addition, <br />expenditures in the City’s Fleet and Non‐Fleet programs are not shown as these expenditures <br />are specifically tied to pre‐funded asset replacement funds. The information is presented on a <br />modified cash basis accounting method, which measures only the actual revenues that become <br />available and measurable, and expenditures are recognized in the period the liability is <br />incurred. Explanations are provided in the report for any budget to actual differences that are <br />considered to be significant. At the end of the first quarter, this includes a variance of less than <br />20% or more than 30%. It should be noted that certain variances are expected and exist simply <br />due to the non‐recurring or intermittent nature of the revenue or expenditure. Staff commented <br />further on the 1st quarter financials and recommended approval. <br />Mayor Niedfeldt-Thomas asked if this report would be placed on the City’s website. City <br />manager Massopust explained all quarterly reports were placed on the City’s website. <br />Mayor Niedfeldt-Thomas thanked Finance Director Foschi for all of her efforts on the <br />quarterly financial reports. <br /> <br />Motion by Councilmember Allen, seconded by Councilmember Abdulle to accept the First Quarter <br />2022 Financial Reports. <br /> <br />A roll call vote was taken. <br /> <br />5 Ayes, 0 Nays-Motion Carried <br /> <br />2. Consider Resolution Approving a Special Use Permit Authorizing a Garage in Excess of <br />624 Square Feet at 1233 12th Avenue NW. <br /> <br />City Manager Massopust indicated Assistant Director of Community Assets and Development Gozola would <br />be presenting this item to the Council. <br />School Band Boosters. <br /> <br />11 Consider App. for a <br />Transient Merchant <br />License for NB <br />Farmers Market. <br /> <br />Public Hearing <br /> <br /> <br /> <br /> <br />Council Business <br />1. Consider <br />Acceptance of the 1st <br />Quarter 2022 Financial <br />Reports. <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />2. Consider Resolution <br />Approving a Special Use <br />Permit Authorizing a <br />Garage in Excess of 624 <br />Square Feet at 1233 12th <br />Avenue NW. <br />