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<br /> <br />City Council <br /> <br />Finance Committee <br /> <br />Meeting Minutes <br />April 16, 2007 <br />City Hall, City Manager's Office <br />749 Mai n Street <br /> <br />Call to Order - The meeting was called to order at 4:00 pm. <br /> <br />Roll Call was taken and the following members were present: <br /> <br />City Council: <br /> <br />Mayor Chuck Sisk <br />Council Members Sheri Marsella and Ron Sackett <br /> <br />Absent: <br /> <br />Staff Present: <br /> <br />Heather Balser, Interim City Manager, Patty Leslie, <br />Finance Director, Scott Robson, Land <br />Management Director <br /> <br />Speaking Guests: Wendy Swanhorst - External Auditor <br /> <br />PUBLIC COMMENTS ON ITEMS NOT ON THE AGENDA <br /> <br />None. <br /> <br />OPEN ISSUES <br /> <br />The meeting was called to order at 4:00 p.m. <br /> <br />Wendy Swanhorst from Swanhorst & Company LLC was present to discuss the <br />results of the audit and to present a draft management letter. The audit issues <br />that were discussed were the booking of the TABOR emergency reserve into the <br />General Fund for 2006. This will be noted in the Statement of Net Assets in the <br />CAFR and will be approximately $512,000. This is a change in the way the City <br />has reported the reserve. Usually, it was just reported in the notes to the <br />financial statements. Finance Committee members agreed with this change in <br />reporting for the 2006 CAFR. The Cemetery Fund was discussed and the over <br />budgeted expenditure for the transfer of interest earned in the Cemetery Fund to <br />the General Fund will be noted in the 2006 CAFR. A question was raised on how <br /> <br />City Council <br />303.335.4533 (phone) <br /> <br />City of Louisville <br />749 Main Street <br />303.335.4550 (fax) <br /> <br />Louisville CO 80027 <br />www.ci./ouisville.co.us <br />