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MINUTES OF THE <br />ORONO CITY COUNCIL MEETING <br />Monday, June 27, 2016 <br />7:00 o'clock p.m. <br />ROLL CALL <br />The Orono City Council met on the above-mentioned date with the following members present: Mayor <br />Lili Tod McMillan, Council Members James Cornick, Jr., Lizz Levang, Aaron Printup, and Dennis <br />Walsh. Representative Staff were City Administrator Jessica Loftus, Finance Director Ron Olson, Senior <br />Planner Michael Gaffron, City Planner Melanie Curtis, Public Works Director/City Engineer Adam <br />Edwards, City Attorney Soren Mattick, and Recorder Jackie Young. Consulting City Engineer David <br />Martini was present. <br />Mayor McMillan called the meeting to order at 7:00 p.m., followed by the Pledge of Allegiance. <br />APPROVAL OF AGENDA <br />L CONSENT AGENDA <br />Item Nos. 6, 7, 8, 9, 15, and 16 were added to the Consent Agenda. <br />Printup moved, Walsh seconded, to approve the Consent Agenda as amended. VOTE: Ayes 5, <br />Nays 0. <br />APPROVAL OF MINUTES <br />*2. CITY COUNCIL MEETING OF JUNE 13, 2016 <br />Printup moved, Walsh'seconded, to approve the minutes of the Orono City Council meeting of June <br />13, 2016, as submitted. VOTE: Ayes 5, Nays 0. <br />PRESENTATION <br />3. 2015 COMPREHENSIVE ANNUAL FINANCIAL REPORT PRESENTATION <br />Michelle Hoffman, Clifton, Larson, Allen, was present. <br />Hoffmann noted the audit provides reasonable but not absolute assurance of the City's financial affairs <br />and does not look at every single financial document. Two new accounting policies, GASB No. 68 and <br />71, were adopted in 2015 and require the City to record its proportionate share of the unfunded state <br />administered pension plans: PERA and PEPFF. Hofmann noted some of the items in the financial audit <br />are estimates and include the useful life of capital assets, valuation of investments, post -employment <br />benefits, and net pension liability. Hoffmann stated her firm received full cooperation from city <br />administration and the financial department. <br />Hoffinann stated they issued an unmodified, clean opinion on the City's financial statements, which is the <br />best opinion that can be issued. Hoffmann stated as far as internal controls, the same two internal controls <br />were noted that have been found in the past and include preparation of financial statements and <br />segregation of duties. Hoffmann stated those two items are common in smaller cities and that they would <br />be willing to work with the City on the segregation of duties. <br />Page 1 <br />