HomeMy WebLinkAbout2016 06-06 CCM Joint Work Session with Financial CommissionMINUTES 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 6, 2016
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, Assistant Finance
Director Andrew Splinter, and Deputy City Clerk Rozlyn Tousignant. Councilmember Kris
Lawrence-Anderson was absent and excused.
Others present were Financial Commissioners Anna Burke, Rex Newman, Dan Schueller, and
Dean Van Der Werf. Financial Commissioners Jeffrey Dobbs and Teneshia Kragness were
absent and excused; James Schulz was absent and unexcused.
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, General Fund Financial Position, General Fund Revenue by
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Source, General Fund Expenditures by Function, Enterprise Funds Change in Financial Position,
Water Fund, Sanitary Sewer Fund, Liquor Fund, 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 ended his presentation by explaining the City's net position which has increased
nearly $5 million in 2016.
There was discussion regarding the City's implementation of Government Accounting Standards
Board (GASB) Statement No. 68, Accounting and Financial Reporting for Pensions. (25
minutes)
STAFF OVERVIEW OF COMPREHENSIVE ANNUAL FINANCIAL REPORT
Finance Director Reinhardt reviewed the 2015 Comprehensive Annual Financial Report (CAFR)
and pointed out that there is a positive General Fund Operating Budget of $1,059,597; the
General Fund Assigned and Unassigned Fund Balance represents 56.1 percent of next year's
budgeted expenditures; and there is a fund balance >52 percent that will be transferred to the
Capital Projects Fund ($804,815). 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.
Discussion was held in regards to the fund balance of 52%, turnover/vacancies of City staff
positions, bonding for the street projects, and the FRA & PERA pension funds.
MISCELLANEOUS
There were no miscellaneous items discussed.
ADJOURNMENT
Councilmember Myszkowski moved and Councilmember Ryan seconded to adjourn the Work
Session at 7:45 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 full, 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 6, 2016.
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 27, 2016, Regular Session.
City Clerk Mayor
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