06-22-1987 CC MIN - Laserfiche WebLink

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e e e MEETING OF THE ELK RIVER CITY COUNCIL HELD AT THE ELK RIVER CITY HALL MONDAY. JUNE 22. 1987 MEMBERS PRESENT: Mayor Gunkel. Councilmembers Schuldt. Holmgren. Tralle (6:40 p.m.). and Dobel (8:10 p.m.) MEMBERS ABSENT: None STAFF PRESENT: Pat Klaers. City Administrator; and Lori Johnson. Financial Director 1. The meeting of the Elk River City Council was called to order at 6:30 p.m. by Mayor Gunkel. 2. Consideration of 6/22/87 City Council Agenda Mayor Gunkel stated that she wished to be added to the agenda. as Item #7.C and Pat Klaers added as Item #7.D. COUNCILMEMBER SCHULDT MOVED TO APPROVE THE 6/22/87 CITY COUNCIL AGENDA WITH ADDITIONS. COUNCILMEMBER HOLMGREN SECONDED THE MOTION. THE MOTION CARRIED 3-0. 3. Consideration of 6/15/87 City Council Minutes Pat Klaers stated that the minutes from the 6/15/87 City Council meeting were not available at the time of the meeting. 4. 1987 Audit Presentation Mr. Gary Groen of Abdo. Abdo and Eick was present to review the 1986 audit with the City Council. Mr. Groen stated that through the audit he could see significant improvements over 1985. He explained that the Utilities Department audit was done by a different firm but those figures had been combined into the City's audit. Mr. Groen explained the various parts of the audit and how it all ties together. He went over the different funds and walked the City Council through the detailed information section of the audit. Discussion was carried on regarding the fund balance in the General Fund which. at the time of the audit. was $344.120 and Mr. Groen had suggested $500.000. Pat Klaers questioned why during the 1985 audit Groen suggested $400.000 to $450.000 and now had changed the figure to $500.000. Groen explained that it was simply because as the City's expenditures increase. so must the fund balance. Klaers explained that changes that have taken place in this fund balance because of separating out the Landfill. Lawcon and Park Dedication activity.