Finance Committee Agenda and Packet 2016 01 19

Home Browse Search

City Council Finance Committee Meeting Minutes 12/14/15 Page 2 of 7 Council Member Maloney stated that the information Director Watson will be presenting was included in the Task Force packet. Council Member Stolzmann stated that she hoped the Task Force would be discussing the financing options used by other communities during their site visits. EIDE BAILLY REPORT ON INTERNAL CONTROLS AND REVENUE COLLECTION PROCEDURES Finance Director Watson presented the independent report summary letter from Eide Bailly and the results of the review of the internal controls and accounting procedures used by the City's Library, Recreation Center and Golf Course. Director Watson stated that, based on the recommendations provided by Eide Bailly, various actions have already been made or are underway, and are outlined in his communication to the Finance Committee. Mr. Watson stated that each location was provided the review findings and recommendations. Council Member Maloney asked for clarification that a "review" was performed and not a full audit. Finance Director Watson confirmed that this was correct. Member Maloney stated that since the Golf Course is an enterprise, which is now operated by the City, all aspects of the enterprise, including an operational audit, should be performed. Director Watson stated that that Eide Bailly's annual audit is of financial statements only, and that those management reports are provided to the Finance Committee for administrative review. Director Watson and City Manager Fleming stated that discussions were continuing with the departments reviewed, and that process controls and reviews are still underway. Council Member Maloney stated that there needs to be adequate separation of duties and checks and balances in place. Council Member Stolzmann stated that she would like to see the written documentation developed by each of the three sites as a result of the independent review (such as bid processes and standardized invoices), and a follow -up report on the actions and outcomes for each area. Member Stolzmann stated there should be written procedures for these areas to ensure proper training of new or substitute staff. City Manager Fleming stated his agreement with the Committee comments, and that he is also interested in achieving separation of duties and the installation of cameras recommended for the Golf Course building. The independent report and corresponding narrative can be located in the packet of the December 14, 2015 Finance Committee Meeting. GOLF COURSE ENTERPRISE FUND — FINANCIALS AND METRICS