SPECIAL MEETING SAUK RAPIDS CITY COUNCIL AUDITED FINANCIAL STATEMENT

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CITY OF SAUK RAPIDS



SPECIAL MEETING

SAUK RAPIDS CITY COUNCIL

Audited Financial Statement Presentation

Fire Department, 408 N Benton Drive

Monday, May 23, 2011

5:30PM


5:30 PM


1. Call to Order and Pledge of Allegiance

Mayor Campbell called the meeting to order at 5:30pm. Members present: Dave Saunders, Brad Gunderson, Paul Weber, and Jared Gapinski. Others present: Ross Olson, City Administrator, Jack Kahlhamer, Finance Director, and Dana Furman, Administrative Services Coordinator.


2. Audited Financial Statement Presentation

Jack Kahlhamer introduced Caroline Stutsman of Kern, DeWenter, Viere, LTD (KDV) who provided the Audited Financial Statement Presentation.


Caroline Stutsman advised that the Audited Financial Statements Presentation is for the Fiscal Year ending on December 31, 2010. The presentation began with Stutsman reviewing the Audited Financial Statements Report referencing page 2, which noted that the responsibility of KDV is to express opinions on the financial statements based upon their audit and the information provided to them by City Staff. Stutsman noted that it was the opinion of KDV “[that] the financial statements [referred to on page 2 of the Independent Auditors’ Report] present fairly, in all material respects, the respective financial position of the governmental activities, the business-type activities, each major fund and the aggregate remaining fund information of the City of Sauk Rapids, Minnesota as of December 31, 2010, and the respective changes in financial position and cash flows, where applicable, thereof and the budgetary comparison for the General Fund for the year then ended in conformity with U.S. generally accepted accounting principles.” Stutsman briefly walked members through the Audited Financial Statement reports as well as the Management letter for the Fiscal Year ending on December 31, 2010 allowing for any questions by City Council members or staff.


Motion: Moved by Councilperson Gapinski and seconded by Councilperson Saunders to accept and approve the 2010 Audited Financial Statements as presented. Motion carried unanimously.


3. Adjournment


Motion: Moved by Councilperson Saunders and seconded by Councilperson Gunderson to adjourn the meeting. Motion carried unanimously.


Mayor Campbell adjourned the meeting at 5:47pm.


Respectfully Submitted,



Dana Furman

Administrative Services Coordinator


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