07-22-1985 Study SessionCITY OF RICHFIELD, MINNESOTA
CITY COUNCIL STUDY SESSION
JULY 22, 1985
MEMBERS PRESENT:
STAFF PRESENT:
John Hamilton, Mayor; Howard
Bunee, Ivan Ludeman, Donald
Priebe, and Michael Sandahl.
John Cartwright, City Manager;
Steven Devich, Administrative
Services Director; Jean
Mitchell, Finance Director;
and, Bill Sangster and John
Frees, Cummings, Keegan & Co.
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The meeting was called to order at 5:35 p.m.
Item ~1 CITY COUNCIL STUDY SESSION REVIEW OF THE 19 CITY OF
RICHFIELD FINANCIAL REPORTS AND- AUDITOR'S MANAGEMENT
LETTER C.L. N0. 263 & C.L. N0. 264.
John Frees, Cummings, Keegan & Co., reviewed the
Comprehensive Annual Financial Report for the fiscal year ended
December 31, 1984. Mr. Frees reported on the annual performance
and year end position of the city's various funds. He also
summarized the affect of Fiscal Disparities on the city,
indicating that the city has consistently been a net gainer from
the fiscal disparities pool.
Bill Sangster, Cummings, Keegan & Co., presented a series of
grafts and charts which historically depicted Richfield's
revenues, expenditures, and property values over a period of
several years.
Mr. Frees concluded the presentation by briefly summarizing
the Auditor's Management Letter.
ADJOURNM NT
The Special City Council Study
p.m.
roved: 8/12/85
Acting City Cler
s~~in w~,~ ad,jq~rned at 6:50
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ity Manage