HomeMy WebLinkAbout2015 06-01 CCM Joint Work Session with Financial Commission MINUTES OF THE PROCEEDINGS OF THE CITY COUNCIL
OF THE CITY OF BROOKLYN CENTER IN THE COUNTY
OF HENNEPIN AND THE STATE OF MINNESOTA
JOINT WORK SESSION WITH FINANCIAL COMMISSION
JUNE 1, 2015
CITY HALL - COUNCIL CHAMBERS
CALL TO ORDER
The Brooklyn Center City Council met in Joint Work Session with the Financial Commission
and the session was called to order by Mayor Tim Willson at 6:30 p.m.
ROLL CALL
Mayor Tim Willson and Councilmembers April Graves, Lin Myszkowski, and Dan Ryan. Also
present: City Manager Curt Boganey, Finance Director Nate Reinhardt, and Deputy City Clerk
Maria Rosenbaum. Councilmember Kris Lawrence-Anderson was absent and excused.
Others present were Financial Commissioners Anna Burke,Steve Landis, and Dean Van Der
Werf.
APPROVAL OF AGENDA
Councilmember Ryan moved and Councilmember Myszkowski seconded to approve this
evening's agenda. Motion passed unanimously.
PRESENTATION OF AUDITOR REPORT AND MANAGEMENT LETTER
James Eichten, CPA, partner with Malloy, Montague, Karnowski, Radosovich, & Company
(MMKR), the City's Auditing Firm, was introduced to review the City's Audit Report and
Management Letter.
Mr. Eichten outlined the auditor's role and the Audit Opinions and Findings which included the
following:
• Financial Report—Unmodified or Clean Opinion
• Internal Controls Over Financial Reporting—No Findings
• Single Audit of Federal Awards—No Findings
• Legal Compliance Audit Findings—No Findings
Mr. Eichten reviewed the Management Report prepared by MMKR and pointed out highlights
relating to the Audit Summary and Governmental Funds Overview along with information on
Taxable Market Values, Tax Rates, Governmental Funds Revenue per Capita, Governmental
Funds Expenditures per Capita, Governmental Funds Change in Fund Balance, General Fund
Financial Position, General Fund Revenue by Source, General Fund Expenditures by Function,
Enterprise Funds Change in Financial Position, Water Fund, Sanitary Sewer Fund, Liquor Fund,
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and Earle Brown Heritage Center Fund. He also recapped that the City had received a clean
opinion on financial statements; single audit of Federal Awards, no findings reported, and that
the City is continuing with ongoing assessment of financial projections and results including
General, Other Operational, and Enterprise Fund Activities.
Mr. Eichten discussed that with the competitive liquor market the profit margins had fluctuated
and due to competitiveness of this market many cities are experiencing a decline in profits; and
this would be a fund to continue to watch.
Mr. Eichten discussed future GASB No. 68 and Fire Relief Auditing that will be required and
incorporated into next year's audit.
STAFF OVERVIEW OF COMPREHENSIVE ANNUAL FINANCIAL REPORT
Finance Director Reinhardt reviewed the 2014 Comprehensive Annual Financial Report (CAFR)
and pointed out that there is a positive Operating Budget of$1,491,492; a total decrease in Fund
Balance of$1,362,632, as a result of a transfer to the Capital Improvements Fund of$2,754,124;
the General Fund Assigned and Unassigned Fund Balance represents 56.7 percent of next year's
budgeted expenditures; and there is a fund balance >52 percent that will be transferred to the
Capital Projects Fund ($908,761). He also outlined financial highlights in each of the following
sections: General Fund Revenues, General Fund Expenditures, Enterprise Funds, Utility Funds,
and other miscellaneous items.
MISCELLANEOUS
There were no miscellaneous items discussed.
ADJOURNMENT
Councilmember Myszkowski moved and Councilmember Ryan seconded to adjourn the Work
Session at 7:33 p.m. Motion passed unanimously.
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STATE OF MINNESOTA)
COUNTY OF HENNEPIN) ss. Certification of Minutes
CITY OF BROOKLYN CENTER)
The undersigned, being the duly qualified and appointed City Clerk of the City of Brooklyn
Center, Minnesota, certifies:
1. That attached hereto is a fu11, true, and complete transcript of the minutes of the City
Council from the City of Brooklyn Center Joint Work Session with Financial
Commission held on June 1,2015.
2. That said meeting was held pursuant to due call and notice thereof and was duly held at
Brooklyn Center City Hall.
3. That the City Council adopted said minutes at its June 8, 2015, Regular Session.
City Clerk Mayor
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