HomeMy WebLinkAboutCity Council Packet 06-12-2007 SpecialAgenda
City of Plymouth
Special City Council Meeting
Tuesday, June 12, 2007
6:00 p.m.
Medicine Lake Room
1. Call to Order
2. 2006 Audit Presentation
3. Set future Study Sessions
4. Adjourn
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TO: Laurie Ahrens, City Manager
FROM: Jean McGann, Adm strative Services Director
SUBJECT: 2006 Comprehensive Annual Financial Report
DATE: June 5, 2007 for City Council meeting on June 12, 2007
1. PROPOSED ACTION: Approve the attached resolution accepting the 2006 Comprehensive
Annual Financial Report.
2. BACKGROUND: Each year the City is required to have an independent Certified Public
Accounting firm audit the financial statements. This year, as in the past three years, the firm of
Malloy, Montague, Karnowski, Radosevich & Co., P.A. (MMKR) performed the annual audit.
For the year ended December 31, 2006 the City received an Unqualified Opinion. An
Unqualified Opinion is the highest form of assurance a Certified Public Accounting Firm can
issue. This opinion can be found on page 1 of the Comprehensive Annual Financial Report.
As part of the annual reporting process, the Comprehensive Annual Financial Report will be
submitted to the National Government Finance Officers Association for the Certificate of
Excellence in Financial Reporting. If awarded, this will be the 25th year in a row the City would
receive this award.
3. DISCUSSION: A representative from the independent Certified Public Accounting firm of
Malloy, Montague, Karnowski, Radosevich & Co., P.A. (MMKR) will be present at the meeting
to give a brief overview of the Comprehensive Annual Financial Report and will also review the
Management Report and Special Reports.
There are several areas within the reports that you may want to pay special attention to as these
areas will assist in providing a better understanding of the City's overall financial condition.
These areas are as follows:
Comprehensive Annual Financial Report (CAFR)
1. Letter of Transmittal — page v
2. Independent Auditor's Report — pages 1 and 2
3. Management Discussion and Analysis — pages 3 through 5
4. Notes to the Financial Statements — pages 33 through 57
Management Report — separate document
Single Purpose Audit Reports — separate document
Audit Findings and Comments — As part of the annual audit, the auditor's prepare and submit a
management report. The report contains recommendations from the auditors related to the City' [s
internal control as well as observations and recommendations on other matters the auditors may
observe or find during the audit. For the year ended December 31, 2006, the auditors have no
findings. However, during the audit for the year ended December 31, 2005, there was one findings
and one comment. The resolution to both of these items is summarized below.
2005 Audit Finding — Minnesota Statutes require that two or more quotes be obtained for contracts
from $10,000 - $50,000 and must be kept on file for at least one year. For one bid tested, the City
had not retained the quotes as required by state statutes.
Response — Finance staff as well as individual departments are well aware of this regulation and
continue to reinforce this requirement. Staff feels the 2005 audit finding was an isolated incident
and there were no findings for the year ended December 31, 2006.
2005 Audit Comment — Segregation of Duties related to cash receipts needs to be strengthened.
Response — Finance staff continues to monitor and evaluate all internal controls throughout the year.
During 2006, a special focus was placed on the cash receipts segregation of duties. This included a
complete analysis of the functions and tasks of each member of the finance division as well shifting
some responsibilities. The end result was the tightening of internal controls and the streamlining of
some processes creating efficiencies. Additional controls were developed and placed on cash
receipts and there were no findings for year ended December 31, 2006.
4. RECOMMENDATION: Staff recommends adoption of attached resolution accepting the 2006
Comprehensive Annual Financial Report.
Attachments: Comprehensive Annual Financial Report
Single Purpose Audit Reports
Management Report
CITY OF PLYMOUTH
RESOLUTION NO. 2007 -
ACCEPTING THE 2006 COMPREHENSIVE ANNUAL FINANCIAL REPORT AND
AUDIT
WHEREAS, the City Council has received and reviewed the 2006 Comprehensive Annual
Financial Report prepared by the Finance Division of the Administrative Services Department
and the audit opinion of the independent Certified Public Accounting Firm of Malloy, Montague,
Karnowski, Radosevich & CO., P.A., and
WHEREAS, the Firm of Malloy, Montague, Kamowski, Radosevich & CO., P.A. has issued an
unqualified opinion as the results of their audit,
NOW, THEREFORE BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE
CITY OF PLYMOUTH, MINNESOTA, that the 2006 Comprehensive Annual Financial
Report prepared by the City's Finance Division of the Administrative Services Department and
the audit of said report as prepared by Malloy, Montague, Karnowski, Radosevich & CO., P.A.
are hereby approved and accepted.
Adopted by the City Council June 12, 2007
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TO: Mayor and City Council
FROM: Laurie Ahrens, City Manager
SUBJECT: Set Future Study Sessions
DATE: June 6, 2007, for Council study session of June 12, 2007
1. ACTION REQUESTED: Review the pending study session topics list and set study
sessions or amend the topics list if desired.
2. BACKGROUND: Attached is the list of pending study session topics, as well as calendars
to assist in scheduling.
Pending Study Session Topics
at least 3 Council members have approved the following study items on the list)
Special Assessment Policy (Council; early fall)
Other requests for study session topics:
Possible ordinance on feeding of wildlife (Black)
Update with the City Manager (fall)
Discussion of Rental Licensing Ordinance (Black)
OFFICIAL CITY MEETINGS
June 2007
Sunday Monday I Tuesday Wednesday Thursday Friday Saturday
May 2007 Ju12007
1 2
S M T W T F S S M T W T F S
1 2 3 4 5 1 2 3 4 5 6 7
6 7 8 9 10 11 12 8 9 10 11 12 13 14
13 14 15 16 17 18 19 15 16 17 18 19 20 21
20 21 22 23 24 25 26 22 23 24 25 26 27 28
27 28 29 30 31 29 30 31
3 4 5 6 7 8 9
6:30 PM YOUTH
ADVISORY COUNCIL,
Parkers Lake
7:00 PM PLANNING
COMMISSION, Council
Chambers
10 11 12 13 14 15 16
6:00 PM CITY
COUNCIL STUDY
SESSION -2006 AUDIT
PRESENTATION,
Medicine Lake
Conference Room
6:00 PM -7:00 PM
PUBLIC MEETING ON
CrrYSTORMWATER
POLLUTION
PREVENTION PLAN,
Council Chambers
7:00 PM PARK & REC
ADVISORY
COMMISSION(PRAC),
Council Chambers
7:00 PM REGULAR
COUNCIL MEETING,
Council Chambers
7:00 PM
ENVIRONMENTAL
QUALITY COMMITTEE
EQC), Medicine Lake
Rooms A 8 B
FIag.Day
17 18 19 20 21 22 23
7:00 PM PLANNING
COMMISSION, Council
Chambers
7:00 PM HOUSING &
REDEVELOPMENT
AUTHORITY (HRAI,
Medicine Lake Rcom A
24 25 26 27 28 29 30
6:00 PM CITY
COUNCILSTUDY
SESSION - SPECIAL
ASSESSMENT POLICY,
Medicine Lake
Conference Room
7:00 PM PLYMOUTH
ADVISORY
COMMITTEE ON
TRANSIT (PACT) ,
Medicine Lake Room A
7:00 PM REGULAR
COUNCIL MEETING,
Council Chambers
modified on 6/1/2007
OFFICIAL CITY MEETINGS
1mly 2007
Sunday Monday Tuesday Wednesday Thursday Friday Saturday
1 2 3 4 5 6 7
INDEPENDENCE
DAY, Clfy Offices
5:151MMUSICIN
PLYMOUTH, Hike
Pedortnance centerenter
8 9 10 11 12 13 14
7:00 PM REGULAR
COUNCIL MEETING,
Ccundl Chambers
5:30 PM
ENVIRONMENTAL
QUALITY COMMITTEE
EQC), Ponds, Plant,
and Practices Tour -
Starting at Plymouth
Creek Center
7:00 PM PARK & REC
ADVISORY
COMMISSION (PRAC),
Council Chambers
15 16 17 18 19 20 21
7:00 PM PLANNING
COMMISSION, Council
Chambers
7:00 PM HOUSING &
REDEVELOPMENT
AUTHORITY (HRA).
Medicine Lake Room A
22 23 24 25 26 27 28
7:00 PM REGULAR
COUNCIL MEETING,
Council Chambers
7:00 PM PLYMOUTH
ADVISORYCOMMITTEEON
TRANSIT (PACT),
Medicine Lake Room A
29 30 31
Aug 2007Jun2007
S M T W T F S S M T W T F S
1 2 1 2 3 4
3 4 5 6 7 8 9 5 6 7 8 9 10 11
10 11 12 13 14 15 16 12 13 14 15 16 17 18
17 18 19 20 21 22 23 19 20 21 22 23 24 25
24 25 26 27 28 29 30 26 27 28 29 30 31
modified on 6/1/2007
OFFICIAL CITY MEETINGS
e„n„rt ?007
Sunday Monday Tuesday
yY
Wednesday
v
Thursday Friday Saturday
7:00 PM PLANNING
COMMISSION, Council
Chambers
2 3 4
Ju12007
S M T W T F S
Sep 2007
S M T W T F S
1 2 3 4 5 6 7 1
8 9 10 11 12 13 14 2 3 4 5 6 7 8
15 16 17 18 19 20 21 9 10 11 12 13 14 15
22 23 24 25 26 27 28 16 17 18 19 20 21 22
29 30 31 23 24 25 26 27 28 29
30
5 6 7 8 9 10 11
2:30 PM -5:00 PM
NATIONAL NIGHT OUT
KICK OFF EVENT, Fire
Station III
7:00 PM
ENVIRONMENTAL
QUALITY COMMITTEE
EOC), Medicine Lake
Roams A B B
7:00 PM PARK 6 REC
ADVISORY
COMMISSION (PRAC),
Council Chambers
6:30 PM -9:30 PM
NATIONALNIGHT OUT
12 13 14 15 16 17 18
7:00 PM REGULAR
COUNCIL MEETING,
Council Chambers
7:00 PM PLANNING
COMMISSION, Council
Chambers
7:00 PM HOUSING 8
REDEVELOPMENT
AUTHORITY (HRA),
Medicine Lake Room A
19 20 21 22 23 24 25
6:00 PM CITY
COUNCIL STUDY
SESSION -DISCUSS
BIENNIAL BUDGET,
Medicine Lake
Conference Room
7:00 PM PLYMOUTHADVISORY
COMMITTEE ON
TRANSIT (PACT),
Medicine Lake Room A
26 27 28 29 30 31
5:30 PM CITY
COUNCIL STUDY
SESSION - DISCUSS
BIENNIAL BUDGET,
Medicine Lake
Conference Room
7:00 PM REGULAR
COUNCIL MEETING,
Council Chambers
modified on 6/1/2007
OFFICIAL CITY MEETINGSOFFICIAL2007
Sunday Monday Tuesday Wednesday Thursday Friday Saturday
Aug 2007 Oct 2007 1
S M T W T F S S M T W T F S
1 2 3 4 1. 2 3 4 5 6
5 6 7 8 9 10 11 7 8 9 10 11 12 13
12 13 14 15 16 17 18 14 15 16 17 18 19 20
19 20 21 22 23 24 25 21 22 23 24 25 26 27
26 27 28 29 30 31 28 29 30 31
2 3 4 5 6 7 8
LABOR DAY - City
Offices Closed
6:30 PM CITY
COUNCIL STUDY
SESSION - DISCUSS
BIENNIAL BUDGET,
Medicine Lake
Conference Room
7:00 PM PLANNING
COMMISSION, Council
Chambers
7:00 PM HUMAN
RIGHTS COMMISSION,
Parkers Lake Room
9 10 11 12 13 14 15
700 PM REGULAR
COUNCIL MEETING,
Council Chambers
7:00 PM
ENVIRONMENTAL
QUALITY COMMITTEE
EQC), Medicine Lake
Rooms A & B
7:00 PM PARK 8 REC
ADVISORY
COMMISSION (PRAC),
Council Chambers
10:00 AM -5:00 PM
AUTUMN ART FAIR,
Parkers Lake Room
ROSH HASHANAH
BEGINS AT SUNSET
16' 17 18 19 20 21 22
7:00 PM PLANNINGe:oO
COMMISSION, Council
Chambers
AM -3:30 PM
PLYMOUTH CLEAN-UP
DAY, Public Worka
Maintenance Facility
YOM KIPPUR
BEGINS AT
SUNSET -
7:00 PM HOUSING 8
REDEVELOPMENT
AUTHORITY (HRA),
Medicine Lake Room A
23 24 25 26 27 28 29
7:00 PM REGULAR
COUNCIL MEETING,
Council Chambers
7:00 PM PLYMOUTH
ADVISORYCOMMITTEEON
TRANSIT (PACT) ,
Medicine Lake Room A
1:00 PM Plymouth 0n
Parade Celebration, Ctl'
CenlerArea
30
modified on 6/6/2007