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City Council Minutes <br /> June 2, 2015 <br /> Page 6 of 7 <br /> to insulate the waterline. He requested the Council to waive the two quote <br /> requirement. <br /> COUNCIL MEMBER LOUKOTA MOVED TO APPROVE THE <br /> ANDERSON BROTHERS BID OF $10,605.48 FOR THE ENGEN ROAD <br /> WATERLINE INSULATION PROJECT AND TO WAIVE THE TWO <br /> QUOTE REQUIREMENT. COUNCIL MEMBER AKERSON SECONDED <br /> THE MOTION. MOTION CARRIED 4-0. <br /> 10. City Clerk <br /> 10.1. 2014 Year End Financial Report <br /> Nancy Malecha gave a presentation on the 2014 year-end financial report. <br /> The general fund capital outlay and council contingency carryover monies <br /> remaining at year-end total $154,722.58. The City's Accounting and <br /> Reporting Policy states, "the City will commit fund balance in the general <br /> fund of up to 50% of the following year's general fund budgeted <br /> expenditures for cash flow purposes."As of December 2014, the City is at <br /> 58% fund designation. For 2014, the General Fund expenditures exceed <br /> revenues by $69,120 due to several expenditures that used fund balance <br /> or capital outlay carryover funds. Nancy Malecha noted that the City is in <br /> good financial condition. <br /> 11. Other Business <br /> The City Clerk requested the Council to consider a temporary expansion <br /> of premises license for the American Legion to allow them to serve alcohol <br /> outside of their establishment. <br /> COUNCIL MEMBER AKERSON MOVED TO APPROVE A <br /> TEMPORARY EXPANSION OF PREMISES LICENSE FOR THE <br /> AMERICAN LEGION FOR JULY 4, 2015. COUNCIL MEMBER <br /> SJOBLAD SECONDED THE MOTION. MOTION CARRIED 4-0. <br /> 12. Adjournment <br /> There being no further business, COUNCIL MEMBER LOUKOTA <br /> MOVED TO ADJOURN. COUNCIL MEMBER AKERSON SECONDED <br /> THE MOTION. MOTION CARRIED 5-0. <br /> The meeting of the City Council adjourned at 7:30 p.m. <br />