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City Council Minutes <br /> February 2, 2005 <br /> Page 6 <br /> ---------------------------- <br /> threshold for external financial reporting purposes. She noted that the <br /> auditor has recommended $2,500. <br /> COUNCIL MEMBER NAGEL MOVED TO SET THE CAPITAL ASSET <br /> THRESSHOLD FOR GASB34 FINANCIAL REPORTING PURPOSES TO <br /> $2,500. COUNCIL MEMBER SJOBLAD SECONDED THE MOTION. <br /> MOTION CARRIED 7-0. <br /> COUNCIL MEMBER NAGEL MOVED TO AUTHORIZE A FULL GASB <br /> 34 AUDIT FOR 2004. COUNCIL MEMBER RYAN SECONDED THE <br /> MOTION. MOTION CARRIED 7-0. <br /> 11.3. Congressman Oberstar <br /> The Clerk informed the Council that Congressman Oberstar has <br /> requested to rent office space at the Pequot Lakes City Hall. She indicated <br /> that one of his representatives would work out of the office. <br /> COUNCIL MEMBER SJOBLAD MOVED TO RENT OFFICE SPACE TO <br /> CONGRESSMAN OBERSTAR'S REPRESENTATIVE AT $175 PER <br /> MONTH. COUNCIL MEMBER GREER SECONDED THE MOTION. <br /> MOTION CARRIED 7-0. <br /> 12. City Engineer's Report <br /> A. Industrial Park Improvements <br /> Update provided by City Engineer. <br /> B. MnDOT T.H. 371 Improvements <br /> Update provided by City Engineer. <br /> C. Possible CSAH 11 Realignment <br /> The City Engineer reviewed a draft proposal for a feasibility study <br /> on the CSAH 11 realignment. He noted that he has submitted the <br /> proposal to the County and is waiting for a response from the <br /> County. <br /> D. GASB34 <br /> The City Engineer indicated that he has pulled together some costs <br /> �,-, for roadways in relation to the GASB34 requirements. <br />