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<br />G. PUBLIC HEARINGS <br /> <br /> <br />H. CONSENT AGENDA <br /> <br />I. CITY MANAGER’S REPORT <br />1. Mike Williams of Hochschild-Bloom & Co. 16100 Chesterfield Parkway West, <br />Suite 1265, Chesterfield, MO, presented an overview of their independent audit <br />report for the City’s fiscal year ending, June 30, 2008. A brief synopsis of the <br />Comprehensive Annual Financial Report for the fiscal year ended June 30, 2008 <br />was given. Hochschild-Bloom & Co audit was conducted for the purpose of <br />forming opinions on the financial statements that collectively comprise the City’s <br />basic financial statements. In Hochsbchiild, Bloom & Company independent <br />report it was their opinion, the financial statements referred to, present fairly, in <br />all material respects, the respective financial position of the governmental <br />activities, the business-type activities, the aggregate discretely presented <br />component units, each major fund, and the aggregate remaining fund information <br />as of June 30, 2008, and the respective changes in financial position and cash <br />flows, where applicable, thereof for the year then ended, in conformity with U.W. <br />generally accepted accounting principles. Mr. Williams next reviewed the report <br />on internal control over financial reporting and on compliance and other matters <br />based on an audit of financial statements performed in accordance with <br />Government Auditing Standards. <br /> <br />Ms. Ricci asked about governmental activities versus business-type activities. <br />Mr. Williams stated that having more of one over the other was not of great <br />importance. Ms. Ricci had questions on increases and decreases in revenues, <br />expenditures and changes in fund balances from 2007 to 2008 and determined <br />to get the specifics from the Director of Finance later. <br /> <br />Mr. Glickert asked what was the “controlled deficiency” mentioned in the report. <br />Mr. Williams stated it was a disclosure that has to be made when the auditing <br />firm found adjustments that needed to be made. The exact adjustments can be <br />obtained from the Finance Director. Ms. Ricci stated that even with the <br />adjustments, the auditors have designated the City low risk and unqualified <br />opinion, therefore, the City is on track. Mr. Williams agreed and stated the thirty <br />to forty percent of its cities it audits have deficiencies. <br /> <br />Mr. Williams recommended the implementation of a procedural manual of how <br />things are processed in the finance department to be available for reference. <br />This can also be used to determine if present procedures can be improved. <br /> <br />2. University City School District Superintendent Joylynn Wilson updated Council on <br />University City School District’s community engagement process. The power <br />point presentation Ms. Wilson presented was the same given to the district <br />employees on January 16 and then to the public on January 21 and culminates <br />with the community engagement process. She stated the comprehensive school <br />improvement plan (CSIP) was academic achievement for all students, highly <br />qualified staff, facilities, support and instructional resources, parent and <br />community involvement and lastly governance and administration. University <br />City schools Annual Performance Report (APR) showed progress but not where <br />they need to be yet, which then ties into the district’s five year plan adopted in <br /> <br />