June 28, 2004

 

A special meeting of the City Council was held on Monday, June 28, 2004, at 6:00 p.m. in Conference Room A in City Hall.  Mayor Black presided.

 

Councilmen present:

Drummond Black, Bruce Johnson, Hollis McKeag, James Myers, Joseph Rokosz

Councilmen absent:

None

 

MEETING WITH AUDITORS

The City Council met with representatives of Plante & Moran.  The Auditors discussed the Statement on Auditing Standards (SAS-99), which is being implemented for the first time.  There are three components of SAS-99, which are inquiries, procedures regarding risk of fraud or misappropriation, and discussion of issues of risk with the client.

 

Following the discussion on SAS-99, Director of Fiscal Services Robert Fisher presented information on budget transfers and the need to eliminate City Council approval of budget transfers above $25,000 if the City does not want to issue a separate line item budget report to meet GFOA requirements for the Comprehensive Annual Financial Report.

 

Being no further business the meeting adjourned at 6:55 p.m.

 

 

 

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John E. Duso, Deputy City Clerk