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MINUTES <br />LAKE MINNETONKA CABLE COMMUNICATIONS COMMISSION <br />EXECUTIVE COMMITTEE MEETING <br />TUESDAY, JUNE 10, 1991 5»00 P.M. <br />ROOM 204 EXCELSIOR COMMUNITY CENTER <br />443 OAK STREET, EXCELSIOR <br />I. CALL TO ORDER <br />Chair brancei called the meeting to order at 5:02 P.M. <br />DIRECTORS PRESENT <br />Barb Brancei/Shorewood <br />Jim Olds/Excelaior <br />Tim Pattrin/Orono <br />Tim Salarar/Minnetrieta <br />Otto Wilczek/Minnetriata <br />Jimmie Hright/Green*»ood <br />(arr 5:45) <br />OTHERS PRESENT <br />Jennifer Watta/Admin <br />Kathe Ehlert/Adm. Aast. <br />Mark Babcock/Babcock, <br />Langbe in A Co. <br />Paul Nazarow/Trxax <br />(arr. 5:50 ) <br />II.APPROVAL OF MINUTES <br />Brancei aaked for diacuaaion or approval of the May <br />mlnutea. <br />Motion 6.10.91.li Pattrin moved to approve the May minutea, <br />Wiiczek aeconded. The motion paaaed unanimoualy. <br />III. REPORTS <br />Treeeurer^e Report <br />Wilceek preaented the Juat Claima for the period 5/22/91 <br />through 6/10/91 (attachment 1). <br />Motion 6.IB.91.2; Wilczek moved to approve the Juat Claima for <br />the period 5/22/91 through 6/10/91. Salazar aeconded. The mo­ <br />tion paaaed unanimoualy. <br />Mark Babcock, of Babcock, Langbein A Company, preaented the <br />audit of the financial atatementa of the Cooraiaaion for the <br />yeara ending December 31, 1990 and 1989. He pointed out that <br />e^etementa were prepared on the caah baaia of accounting and <br />(in reaponae to Hilczek'a queatior. atated that the audit no <br />longer included depreciated aaaeta. Wilcaek aaked what the <br />Ciwed aaaeta conaiated of and Hatta ewplained an equipment <br />l,nventory waa kept on file and updated annually. Wilcaek <br />reminded her to make deietiona from that liat, aa well aa addi- <br />tiona to It. <br />Wetta atated that ahe would file the review with the atate <br />auditor'a office by June 30, 1991, aa required. She alao atated <br />that becauae the Commiaaion waa not involved in any legal <br />probleaa Babcock had adviaed that there waa no need to have the <br />attorney aubeit a letter atating ao. <br />Babcock concluded by atating that recordkeeping waa <br />currently done eanually but that it could be coeputerlaed, eug- <br />geeting eeverel appropriate eoftware peck /ee that Uatta could <br />inveetigete. Watte aaked what the benefit of accrual accounting <br />would be and Babcock ekplainwi that it would give a eore ac­ <br />curate picture of the financial poeition. The coeeiaeionera <br />thanked Mr. Babcock and he waa eacueed.