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|. <br />•i <br />TOt <br />IfROM: <br />DATES <br />Mayor and City Council <br />Nark E. Bernhardson, City Administrator <br />July 2, 1991 <br />7291.7 <br />SUBJECTS 1990 Financial Report <br />Attachment: A, 1990 Financial Report Dated 6/13/91 (Memo Onl^ ^*|5( <br />B.State Reporting Form Dated 6/25/91 <br />C.Summary for Financial Reporting Publication <br />ISSUE - <br />1.Provide an opportunity for Council to discuss with staff and <br />our auditors questions they may have regarding the report. <br />2.Provide a copy to the Council of the required submission to <br />the State Auditor of the City's Financial Reporting firm. <br />3.Presentation to the Council for approval of the annual summary <br />financial report for publication as required by State law. <br />IMTRODUCTION - At the June 24, 1991 Council meeting the Council <br />was presented with the 1990 Financial Report and management <br />letter under Attachment A as a cover. <br />DISCUSSION > <br />Issue #1 - 1990 Financial Report - The Council received this with <br />the June^4th Council packet. It was Council's consensus that <br />there Is no need to ask a represntative of the auditor to attend <br />an upcoming meeting. <br />Issue #2 - State Reporting Form - The City is required to provide <br />sunnary Information on this State reporting form as presented In <br />Attachment B. The figures derived in that form are taken from <br />the 1990 Financial Report. <br />Issue >3 - SiwMw^rv for Pxibllcatlon - State law requires that by <br />July 30 of every year the City must publish a summary of its <br />annual financial report In the format stipulated by the State In <br />a local newspaper. Attachment C represents that summary for <br />Council approval. <br />ALTERNATIVES - <br />Issue #1 <br />1.Discuss and accept. <br />i1KfS4iWr.rfnrnlift