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<br />-. <br /> <br />OTHER ISSUES <br /> <br />,Pavroll and Financial Systems and the Year 2000 <br /> <br />In 1998, the Finance Department converted its financial payroll, accounts <br />receivable, fixed asset, accounts payable, and cash receipts program from an <br />IBM mini computer to a PC based system which required no new hardware since <br />it runs on the current network. This conversion consumed much of the <br />department's time for the first six to eight months of the year. As part of the <br />conversion the entire chart of accounts was reviewed and revised to provide <br />more of a program based system. This will allow the various departments to <br />budget and account for expenditures by program. Hopefully, some of this <br />program data can be incorporated into the budget process so the Council is <br />aware of, and can evaluate, the cost and effectiveness of the various programs. <br /> <br />.. <br /> <br />This conversion also addressed the department's Y2K issues. All the programs <br />are Y2K compliant and, therefore, we do not anticipate any problems which <br />would disrupt operations in January 2000. At this time there are several minor <br />upgrades which need to be made to the network in order to bring the network <br />into compliance. This includes an upgrade of the Novell operating system and <br />updating all of the PC operating systems and the Microsoft Office programs. <br />Anticipated expenditures for this upgrade will be between the $2,000-$5,000 <br />range depending upon the Novell operating upgrade selected. <br /> <br />Investments <br /> <br />A listing of the City's investments held during 1998 is provided at the end of this <br />Report for your review. No changes were made to the investment policy in 1998. <br />The policy adopted in 1997 closely follows state statute and reinforces that <br />safety and liquidity are of more importance than yield. <br /> <br />Sample Financial Reports <br /> <br />Since the conversion to the new financial system, cash and budget reports have <br />not been provided to the Council as in the past. Several report samples are <br />included in the back of this Report for your review. Starting in the next month or <br />two, staff will provide monthly or quarterly information to the Council including <br />cash balances and General Fund actual and budget data. If there is additional <br />information that the Council would like provided, notify the Finance Department <br />and the appropriate report(s) will be distributed. <br /> <br />. <br /> <br />Certificate of Achievement for Excellence in Financial Reportinq <br /> <br />The City received was awarded a Certificate of Achievement for Excellence in <br />Financial Reporting for its Comprehensive Annual Financial Report (CAFR) for <br /> <br />14 <br />