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U <br />4 . <br />MINUTES OF THE <br />ORONO CITY COUNCIL MEETING <br />Monday, July 11, 2011 <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 />Lih Tod McMillan and Council Members Cynthia Bremer, Doug Franchot, Aaron Printup, and Doug <br />Franchot. Representing Staff were City Administrator Jessica Loftus, Finance Director Ron Olson, City <br />Clerk Lin Vee, Assistant Administrator of Long -Term Strategic Planning Mike Gaffron, Planning <br />Coordinator Melanie Curtis, City Engineer Tom Kellogg, and Recorder Jackie Young. <br />Mayor McMillan called the meeting to order at 7:00 p.m., followed by the Pledge of Allegiance. <br />APPROVAL OF AGENDA <br />1. CONSENT AGENDA <br />Item Nos. 6, 7, 8, and 10 were added to the Consent Agenda. The first two license applications under <br />Item No.-1 1 were added to the Consent Agenda. <br />Franchot moved, Rahn seconded, to approve the Consent Agenda as amended. VOTE: Ayes 5, <br />Nays 0. <br />is APPROVAL OF MINUTES <br />*2. REGULAR CITY COUNCIL MEETING OF JUNE 27, 2011 <br />Franchot moved, Rahn seconded, to approve the minutes of the Orono City Council meeting of <br />June 27, 2011, as submitted. VOTE: Ayes 5, Nays 0. <br />PRESENTATION <br />3. 2010 COMPREHENSIVE ANNUAL FINANCIAL REPORT <br />Craig Popenhagen and Michelle Hoffman, representatives from Larson, Allen, were present. <br />Craig Popenhagen addressed the Orono City Council regarding the 2010 Comprehensive Annual <br />Financial Report. Popenhagen noted under the required communications for this year's audit it was found <br />that the audit provides reasonable but not absolute assurance of the city's financials since it is impossible <br />to look at every single item. The City has not had any changes to any accounting policies. The <br />significant accounting estimates include useful lives of capital assets, valuation of investments, and post - <br />employment benefits. Popenhagen noted his firm received full cooperation from management during the <br />audit. <br />The City was issued an unqualified opinion on the financial statements. There were some exceptions to <br />• the internal controls that were noted, such as preparation of financial statements and segregation of duties. <br />Legal compliance with Minnesota regulations was looked at and there were no exceptions noted. <br />Page 1 of 19 <br />