06-25-1990 Council Packet - Laserfiche WebLink

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c r L L t t E citizens of the City of Orono May 18, 1990 For Highway 12, 1989 represented a further step to realizing a safety improve ment in 1992 by review of the plans which included the possibility of the long sought-after signallzation at Willow Drive. The hallmark for Highway 12 was the announcement in November by the Commissioner of Transportation, Len Levine, that the Minnesota Department of Transportation ;ould fund the corridor selection study for an upgraded four-lane Highway 12 from the Wayzata/Orono border to Delano. This announcement was the result of two years of local efforts on a highway for which upgrade discussions began in the 1950s. This comes at a time when many cities seeking such improvements must pay substantial portions of such studies themselves. Once a corridor is selected, it is anticipated that it would take a minimum of seven to ten years to go through the necessary review, design, and construction processes. The continued drought in the area has resulted in continued lower water levels on Lake Minnetonka. This, however, has had little impact on lowering lakeshore property values. During 1989, the City reviewed drafts that the Lake Minnetonka Conservation District are proposing as their 25-year Comprehensive Management Plan. New housing construction continued apace with 53 new dwellings being constructed at an average value of single family houses being over $280,000. The City's first year recycling program resulted in an 18% diversion of >nnage from landfills, well ahead of the 10% County mandate with a particlpat on rate well above 50%. The Public Works Department reorganized its structure to make it more flexible for personnel usage in the areas of streets, parks, and sewer and water utili ties with an upgrading of skills for several of the departmental members. A study of the City's facilities continued with the consultant architect beginning the design phase of the project. FINANCIAL INFORMATION The management of the Cit'- is responsible for establishing and maintaining a system of internal accounting control. Internal accounting controls are designed to provide reasonable, but not absolute, assurance regarding the safe guarding of assets against loss from unauthorized use or disposition, and the reliability of financial records for preparing financial statements in confor mity with generally accepted accounting principles and maintaining accountabil ity for assets. The concept of benefits likely to be derived, and the eval uation of costs and benefits requires estimates and judgements by management. A’l internal control evaluations occur within this framework for the purpose of adequately safeguarding assets and providing reasonable assurance in the proper recording of financial transactions. -3-