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taxes and low sales tax as a reason for low <br />revenue. The level of services and an aggressive <br />Capital Improvements Program also keep the City's <br />revenue reserves lower than recommended. Bondi's <br />opinion echoes that of past auditing firms and <br />Szymanski stated, "...Council has a job ahead of <br />it to improve our :Financial position." <br />Szymanski also stated that the auditing firm was <br />very pleased with :Financial Services Director, <br />Sharon Asti-Caranci. Ms. Asti-Caranci took over <br />much of the auditing tasks in-house and, according <br />to Szymanski, "the City is taking charge of its <br />own financial position more than it has in the <br />past years." <br />In summary, Szymanski stated that the Financial <br />Committee was very satisfied with the audit and <br />recommend Council's acceptance of the 1986 Audit <br />by Bondi & Co. <br />Mayor Fauson also commended Ms. Asti-Caranci for <br />her performance . <br />Szymanski moved that Council accept the 1986 Audit <br />for the City of Louisville performed by Bondi & <br />Co. Scarpella seconded. Unanimous. <br />APPROVAL OF ENGAGEMENT LETTER WITH <br />BONDI & CO. Hundley stated that late in 1986, staff requested <br />proposals for an annual auditor. The RFP outlined <br />that the City would enter into a one year contract <br />with the successfu]L auditing firm, with an option <br />of yearly renewals for a period of three years. <br />Submitted for Council's approval is an Engagement <br />Letter from Bondi ~~ Co. regarding the renewal of <br />their contract to provide auditing and accounting <br />services for 1987. <br />Szymanski stated that the Finance Committee's <br />opinion of the work Bondi & Co. performed f or the <br />City of Louisville was most satisfactory and <br />recommended that tYie contract be renewed for 1987. <br />Szymanski moved that the Engagement Letter from <br />Bondi & Co. be approved. Anderson seconded. <br />Unanimous. <br />RESOLUTION #8 - SPECIAL REVIEW USE - <br />BROTHERS THREE Rautenstraus read :Ln its entirety Resolution #8, <br />Series 1987, "A Re~~olution approving a special <br />review use for Brothers Three." <br />Wanush stated that the applicants are requesting <br />approval of outdoor dining at the Brothers 3 Bar <br />4 <br />