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Council approves account closures and transfers; auditors recently on site
Summary
Staff reported auditors were on site for three days and the state indicated possible additional annexation sales-tax revenue; the council approved closing two legacy accounts and transferring funds (Account 104 had $3,510.19 excess funds) by roll call.
Staff (S4) told the council auditors had been in the city for three days and that accounting updates are underway to integrate treasurer reporting and time-clock integration with payroll. The staff report noted the state contacted the city about possible additional sales tax revenue from annexations based on state maps.
On a motion, the council authorized closing two accounts (21034102 and 21034101) and transferring balances. Staff explained Account 102 contained a small balance (about $1,500) and Account 104 had excess funds of $3,510.19 now unrestricted after a debt payoff. "They are now unrestricted because the debt has been satisfied," Staff member (S4) said while describing proposed transfers to the general fund and to the natural gas fund. The council approved the transfers by roll call.
Staff said the city will continue budget work and refine accounting entries to reconcile idling or underused funds. No further fiscal actions were taken at the meeting beyond the approved transfers.
