City Council Minutes 2005 06 07 - Laserfiche WebLink

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City Council Meeting Minutes June 7, 2005 Page 4 of 16 multimodal transportation system, preservation of open space, urban centers, free standing communities and keeping the region's air and water clean. The compact commits cities and counties to work collaboratively to guide growth, ensuring planning consistency. DRCOG Chairman and Boulder County Commissioner Will Toor reviewed the principles in the Metro Vision 2020 Plan and the Mile High Compact. He stated they represent the type of growth and transportation principle that Louisville and the municipalities in Boulder County have followed for many years. He explained the conclusion of the 52 members of DRCOG was to maintain quality of life and provide basic transportation and other public services that will be required by future growth. He explained DRCOG has tried to tie transportation funding to the Metro Vision plan. He urged Council to support the Mile High Compact. DRCOG Staff representative Larry Mugler thanked Council for their support of the Mile High Compact. He stated Louisville would be the 39th municipality to sign the compact. MOTION: Council member Brown moved that Resolution No. 21, Series 2005, be approved, seconded by Council member Keany. All in favor. Absent: Council member Van Pelt. PRESENTATION OF 2004 COMPREHENSIVE ANNUAL FINANCIAL REPORT Mayor Sisk requested a Staff presentation. Finance Director Patricia Leslie presented the City of Louisville the 2004 Comprehensive Annual Financial Report through a PowerPoint presentation. She explained a CAFRA is a comprehensive annual financial report, which balances City funds. She compared the total net assets, total capital assets, total debt from 2003 and 2004. She reviewed the various government funds and noted the City has very strong unrestricted assets. She introduced Wendy Swanhorst, CPA of Swanhorst & Company, LLC. Wendy Swan horst, Swanhorst & Company LLC, 8400 E. Crescent Parkway, Suite 600, Greenwood Village, CO presented the results of the City's annual audit with the 2004 Management Letter. She noted the City entered into no unusual or significant transactions during the year and that no difficulties were encountered during the audit. Swanhorst & Company, LLC provided staff with a schedule of audit adjustments. Of these adjustments none were determined to, either individually or in aggregate, indicate matters that could have a significant effect on the City's financial reporting. The Management Letter included suggestions relative to the City's technology program.