City Council Minutes 2003 05 20 - Laserfiche WebLink

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Louisville City Council Meeting May 20, 2003 Page 2 of 11 Resolution No. 14, Series 2003 - A Resolution Approving An Amended PUD Development Plan For The Meadows ~ Coal Creek Subdivision - Decks and Arbor Setbacks Approval of CBT Water Acquisition PUBLIC COMMENTS ON ITEMS NOT ON THE AGENDA Wendy Brasel-Repchak, 402 Fairfield Lane, Louisville, CO, a Monarch High School student, addressed the problems occurring on campus with the parking lot and traffic congestion on Campus Drive and 88th Street. She stressed traffic is generally backed up for two miles and students and teachers are late for classes. COUNCIL INFORMATIONAL COMMENTS ON PERTINENT ITEMS NOT ON THE AGENDA Sisk addressed the traffic congestion at the Monarch High School campus and explained the City is closely monitoring the problem. He noted the timing for the turning light has been increased, and the City is looking at the redevelopment of the South Sub Area, which may alleviate some of the congestion. He thanked Ms. Brasel-Repchak for bringing the issue to Council's attention. REGULAR BUSINESS 2002 AUDIT & MANAGEMENT LETTER Davidson called for Staff presentation. Finance Director Charlene Laus introduced Wendy Swanhorst, C.P.A., a partner with Swanhorst and Cutler, LLC, who presented the 2002 Audit and Management Letter. Wendy Swanhorst, Swanhorst & Cutler LLC, 8400 E. Crescent Parkway, Suite 600, Greenwood Village, CO, reviewed the highlights of the 2002 Audit and the Management Letter. She stated the details were reported to the Finance Committee. She provided a summary of the audit for Council and noted the general fund balance decreased about $100,000. The water fund operated at a loss primarily because of a decrease in revenue related to the drought. She stated there were no compliant issues, and the City is in good financial condition. She noted there were suggestions relative to golf fund and the insurance fund. Sisk asked Swanhorst to review the financial statement in terms of assets. Swanhorst stated the 2002 audit reported the net assets of the City increased by 17 million dollars; 12 million was received for the Northwest Parkway, and she noted the liabilities decreased.