HomeMy WebLinkAbout12/09/1996CITY COUNCIL WORK SESSION
December 9, 1996
5:30 p.m.
Large Conference Room
Members present:
Murphy.
Members absent:
Moved by Jordan,
proposed. Ayes:
Mayor Rooff, Getty, Mollenhoff, Collier, Jordan,
Anders, Krizek.
seconded by Mollenhoff to approve the agenda as
Five. Absent: Krizek, Anders. Motion carried.
Finance Manager Bruce Meisinger reviewed the proposed change to the
city fund account structure. The city will be reducing the number
of fund accounts from seventy to twenty-four. This will enable the
city's accounting structure to comply with Generally Accepted
Accounting Principles. Finance department staff will be completing
the conversion of the current chart of accounts and history into
the new fund structure over the next six months. Completion will
be final before the end of the fiscal year and that will allow it
to coincide with the auditor's requirements.
Meisinger has also proposed a new policy for approval of manual
checks by both the Mayor and Finance Manager. This is intended to
increase the control over manual warrants and to obtain approval
from an elected official before a check is released. It is also
recommended that the Finance Committee Chairperson or Mayor Pro Tem
be designated for signature in the Mayor's absence. The Deputy
Finance Manager or City Clerk will be authorized to sign manual
warrants in the absence of the Finance Manager.
Mollenhoff requested that Meisinger provide the council with a
timeline detailing the progress of the fund account changes in a
worksheet format.
Getty asked if the number of fund accounts will ever be allowed to
increase. Meisinger explained that new fund accounts will be
established for new capital projects however as capital projects
are completed their fund account will be closed. There should be
no actual net increase in the number of fund accounts open for the
City of Waterloo.
The FY1996 Sewer Audit was reviewed. Dale Minor, Hogan Hansen,
stated that as the city's auditor, there had been no instances of
exception to Generally Accepted Accounting Principles noted in the
past fiscal year's transactions. Mayor Rooff asked if the transfer
of sewer funds to the general fund to cover general operating costs
was in compliance. Minor reported that the city council has the
authority to transfer funds from the sewer utility and all
transactions of transfer were in compliance.
With no further discussion, it was moved by Mollenhoff, seconded by
Jordan to adjourn the meeting at 5:50 p.m. Ayes: Five. Absent:
Krizek, Anders. Motion carried.
Susan Fangman
City Clerk