Laserfiche WebLink
<br />basis of accounting and the second set is the Fund Financial statement that shows each <br />major fund on a modified accrual basis accounting. Then there is reconciliation between the <br />two. The pension liability will be found on the government-wide financial statement. It is not <br />required to be funded but will be a number that is shown. <br /> <br />Mr. Walker asked the Director of Finance Tina Charumilind to introduce her staff. She <br />introduced: <br /> <br /> Keith Cole is the Assistant Director of Finance. His background was that of being an <br />auditor from Hochschild & Bloom with a Master’s degree in Business Administration. <br /> <br /> Danny Austin is the Senior Accountant with several years of being an accounting <br />manager in the private sector and has adjusted quickly with the governmental <br />accounts. <br /> <br /> Courtney Gregory is the Accountant. She graduated from Temple University <br />majoring in accounting and is presently pursuing her Master’s degree in Accounting. <br /> <br />Mayor Welsch asked if it would be at all possible to get the final annual audit in the 60 days <br />as stated in the Charter. <br /> <br />Ms. Charumilind stated that it is not possible as the audit mandates accounting of revenue <br />for sixty days after the year end. For sixty days the City is still collecting sales tax, property <br />tax and gross receipts tax. She said Finance could provide a preliminary report just to know <br />where the City is at but could not provide the final figures as the City does not receive the <br />revenue quickly enough. <br /> <br />Mr. Sharpe asked if that meant the City should change the Charter. <br /> <br />Mayor Welsch noted that it matters to residents who read the Charter and wonder why the <br />City is not following it. She noted that some believe there is a benefit to amend the Charter <br />in this and other ways and other people say you don’t even want to get into opening up the <br />Charter. <br /> <br />Ms. Carr asked if finance keeps some kind of a running ledger as to what is charged, by <br />whom and for how much. Ms. Charumilind said a report can be run from the financial <br />system to provide by department and by individual. <br /> <br />Mr. Crow asked for a list of employees who have a City credit card and what their limits are. <br /> <br />Mr. Sharpe asked if the newer financial system is adequate to do all the things the finance <br />department would need. He asked if the auditors have had any comments on the system. <br />Mr. Sharpe asked if the system provided reports requested by the auditors. Ms. <br />Charumilind stated that many times the information that is asked for comes from different <br />reports so they need to create an Excel spreadsheet to combine this information. She did <br />note that any detailed information will only be produced to the extent of what has been <br />entered into the system. <br /> <br />Mr. Crow asked about the training of staff other than the accounting department. Ms. <br />Charumilind said she encourages staff to go into the system to become familiar with it and <br />then if they have any questions, the finance staff would be able to help. <br /> <br />Ms. Carr noted that for several years in the past, staff was unable to provide information <br />about the trash collection bills. Ms. Charumilind stated that the Finance Department can <br />4 <br /> <br /> <br />