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MINUTES OF THE <br />ORONO CITY COUNCIL MEETING <br />Monday, October 13, 2008 <br />7:00 o’clock p.m. <br />___________________________________________________________________________________ <br /> <br />PAGE 2 of 11 <br />(3. 2007 COMPREHENSIVE ANNUAL FINANCIAL REPORT, Continued) <br /> <br />McMillan stated the Council has been discussing updating the City’s financial software, and asked <br />whether there is a particular type of software that the auditor would recommend. <br /> <br />Malloy stated there are a number of different systems that are available and that he could obtain some <br />input from their other clients on the advantages and disadvantages of the software they utilize. Malloy <br />stated he basically would recommend a fund based accounting software. <br /> <br />Malloy stated submission of financial data to their office should also be timelier, and noted that the <br />information was received several months past the deadline. Malloy noted Staff was short-handed this <br />year and that there was a turnover in Staff, which probably has contributed to some of these issues this <br />year. <br /> <br />Murphy asked what an out-of-state travel policy would entail. <br /> <br />Bremer stated it would outline the costs that would be reimbursed and the personnel who could attend <br />certain functions. <br /> <br />Malloy stated an additional comment relates to depositing of receipts in a timely manner, and reported <br />that a number of receipts were deposited 10 to 12 days after receipt, which should be made more <br />current. <br /> <br />Malloy noted that the City of Orono does not receive local government aid but that the City has a good, <br />solid tax base, with a tax rate of 15.3 percent in 2006 and 14.3 in 2007, with the average comparable <br />city being approximately twice that rate. Malloy stated the City’s charges for various services are <br />higher than average, primarily due to fire and police protection services. The debt service of the City of <br />Orono is considerably less than the average city. Malloy noted the City experienced approximately a <br />$500,000 increase in revenues from last year but that it receives very little intergovernmental aid. <br />Malloy stated overall the City is in good financial condition. <br /> <br />Malloy commented that typically municipal golf courses do not operate at a profit and recommended <br />that the City look at its options regarding the golf course and how it should be funded in the future. <br /> <br />White noted the finance director took over the duties of the city administrator for a period of time this <br />year, which resulted in his time being stretched rather thin. The City has now hired a full-time city <br />administrator, which should result in the finance director being able to devote more time to his financial <br />duties. <br /> <br />Malloy encouraged the City to complete its financial records in an expedient manner in order to <br />maintain proper overview of their finances. <br /> <br />White noted the City of Orono has one of the lowest tax rates of the local cities at approximately 13 <br />percent. <br /> <br />McMillan acknowledged the City has had some personnel shortages, which did contribute to the <br />issues with the finances. <br /> <br />The City Council took no formal action on this item. <br />Item #02 - CC Agenda - 10/27/08 <br />Approval of Council Minutes 10/13/08 [Page 2 of 11]