HomeMy WebLinkAboutCity Council Minutes 07-14-2009 SpecialAdopted Minutes
Special Council Meeting
July 14, 2009
Mayor Slavilc called a Special Meeting of the Plymouth City Council to order at 5:40 p.m. in the
Medicine Lake Conference Room, 3400 Plymouth Boulevard, on July 14, 2009.
COUNCIL PRESENT: Mayor Slavilc, Councilmembers Johnson, Murdock, Stein, Bildsoe,
Willis, and Black (arrived at 6:05 p.m.).
ABSENT: None.
0 lArr PRESENT: . AdlfiiiiiStrative Services Director Pv11.11eT, Finance Manager L'u'rSll\.1111, allu
City Clerk Engdahl.
Presentation by Auditors
Aaron Nielson, from the City's auditing firm, discussed the 2008 audit and preparation of the
City's Comprehensive Annual Financial Report (CAFR). He noted that due to the City
implanting new financial system management software, some of these procedures were delayed.
Based upon the preliminary testing of the audited results, there are no issues of non-compliance.
Councilmember Willis questioned if the funds for the post retirement benefits could come from a
designated reserve fund instead of the general fund surplus fund. Mr. Nielsen stated they could
review that, and he commented that the liability will change as there will be a shift in employees
who are working longer who don't quality for the Rule of 90 under PERA.
A discussion was held on maintaining 40% of the general fund balance.
The Council directed staff to prepare the following reports for the Council:
1. Survey other cities regarding their policies for general fund balances.
2. Prepare a report outline what the general fund reserves have been over the past three
years.
3. Receive an opinion from the City's financial consultant on general fund balances.
4. Provide further clarification on the design engineering fund.
5. Provide historical information for Funds 230 (Community Development) and 234
Economic Development).
6. Analyze and determine the appropriate balance for the Risk Management Fund.
Adopted Minutes 1 of 2 Special Meeting of July 14, 2009
Set Future Study Sessions
No study sessions were scheduled.
Adjournment
Mayor Slavik adjourned the meeting at 6:40 p.m
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Sandra R. Engdahl, Ciq Clerk
Adopted Minutes 2 of 2 Special Meeting of July 14, 2009