[This transcript was generated automatically from audio using AI and hasn't been reviewed by a person -- it can contain mistakes, including plausible-sounding sentences that were never actually said. Treat it as a starting point, not a verbatim record.]

[0:11] Okay, we're good. Thank you. Call the Finance Committee meeting to order for there's a September 10th.
[0:20] roll call member Matt Viren your Sue Role here member Tim Limon member Mark Willer your member
[0:32] Susie Zilmer we also have present finance director Tina Nelson council member Bruce
[0:38] Thielin Dan Carlson with Clifton Larson Allen auditor in city Cindy Bauer city clerk
[0:45] we have a corn
[0:50] discuss consider approval of the minutes for the July 10th 2025 finance
[0:54] committee meeting.
[0:55] Good to check.
[0:56] I'm on move to approve those minutes.
[0:58] Willer will second.
[1:00] We have a motion in a second.
[1:01] All in favor say aye.
[1:02] Aye.
[1:03] Any opposed?
[1:05] Motion carries.
[1:07] All right.
[1:07] Discuss considerations to counsel regarding the approval of the comprehensive annual finance
[1:12] report for 2025 to be discussed at the September 10th.
[1:16] This
[1:20] is Dan Carlson.
[1:21] He's the lead auditor for us.
[1:24] Aye, Dan.
[1:25] At a going page by page, he will come at a summary here.
[1:29] Summary would actually also mail with all the report.
[1:36] But they'll go over that and then if you have any questions,
[1:38] we'll answer your questions.
[1:40] I did have a question.
[1:40] Did that include a management letter?
[1:43] Or did I miss that?
[1:43] Did it include what?
[1:44] A management letter?
[1:45] You know, that covered letter that kind of summarizes everything?
[1:50] No, that's what you just had signed, right?
[1:53] It's like, what I find is a compilation, or what I find better, but to other letters, you'll get a file on.
[2:05] Now, kind of the Uber.
[2:11] That's what I was curious about.
[2:13] And I should have been attached.
[2:15] Yeah, there was something that was combined.
[2:18] I mean, it was not.
[2:19] It was this week that we just sent out to their Tuesday or something.
[2:23] And I think I sent them here through adjustment.
[2:25] And then the summary just had a little change out,
[2:29] and I put revised on that.
[2:31] But it was probably after this.
[2:32] So if you scroll down all the way, OK.
[2:35] That's what I had.
[2:36] This is the revised one.
[2:38] OK.
[2:39] We'll get there then.
[2:40] We'll go over it.
[2:41] But yeah, could do we got you there, Mark?
[2:43] I didn't.
[2:45] All right.
[2:45] I'll get started then.
[2:47] Y'all wouldn't really well.
[2:49] Thanks, Tantina.
[2:50] I missed the part of it.
[2:51] for getting everything we needed with the order once again. As Teta mentioned, the
[2:58] the order report itself is longer and for some rising and like we usually do it.
[3:03] And as I jump down some notes to go along with it, but feel free of as we go through
[3:08] just to ask questions as we go along, I think it's easier that way. So feel free to chime in if you
[3:14] have any- Can you talk into the microphone? Oh yeah, please.
[3:17] I should have brought a step stool.
[3:21] Can you hear me, okay?
[3:25] The first thing I wanted to note was the audit opinion.
[3:30] This is in years past, the city received a non-modified audit opinion, which means the
[3:37] financial statement numbers and the disclosures are materially stated correctly.
[3:42] It's the highest level of audit opinion that city can receive.
[3:48] Second part talks about, well, right below that, the management letter, which we just discussed.
[3:55] Then there's three things in there that have been in there in the past that are common with other cities of your size in the area.
[4:04] One, CLA, it helps prepare the financial statements, and you know,
[4:08] Do there's adjustments that are made as part of the audit that we make every year that they're being just the limited segregation of duties because of a smaller office staff. So it's hard to have controls over every cycle at every level.
[4:25] So just items were required to disclose, but honestly it's not that big of a deal because if you use to look at other letters as well in the area, you'll see the same things.
[4:34] And I just, if I can comment on each of those,
[4:39] the, you know, what they do for the, they create the financial statements.
[4:42] A lot of it is like keeping up with GFC rules and things like that.
[4:47] And things that I don't have the time to learn in their CPAs.
[4:51] So they put the financial statement together.
[4:53] So you're always going to have that in there unless I created that financial statement.
[4:58] And there's going to be those,
[5:00] The adjustments that they do at the end of the depreciation that I believe the adjustments are getting pretty small compared to what they used to be.
[5:07] And I think as a municipality we have very few adjusting entries at the end, compared to a lot of because we do most of them.
[5:16] But in the lack of segregation of duties, we're doing a lot better. I think that we're doing everything that we can to try to split up only one person doing things.
[5:25] But at that, at some point, maybe you could hire them to show,
[5:29] but as it is difficult to miss my office,
[5:32] but it's getting more and more hard.
[5:34] I don't know how somebody could actually do anything
[5:37] because we're separating everything out.
[5:38] This person writes the fact that this person
[5:40] looks at over this stuff to me out.
[5:43] This person approves.
[5:45] As we get bigger, that's an area that I always focus on
[5:50] because we have seen a lot of growth.
[5:52] And I would think at some point,
[5:54] We could get more help. I would like that.
[5:56] Well, I know it's a fine line, but it's such an important thing.
[6:01] Yeah, we are setting up an AP process system too, or in the middle of that project right now,
[6:08] and that's going to have the end of we really know about it.
[6:11] It's going to have to, but each department had, we'll have it go through a process and it'll have
[6:16] the pack of them approving it and putting the sign number in and things totally that helps.
[6:23] I don't have in Jackie, she's taken on some more things, so, you know, Betsy used to stuff envelopes.
[6:30] She doesn't do that anymore, you know, she puts the checks in, I review it.
[6:36] And then it gets, they get printed out, and then Jackie actually sends them out.
[6:43] And make sure that everything that is on the checks on the report.
[6:47] And then it gets forced and it's always in a batch and I go back and look at those batches to make sure what they would what I looked at.
[6:53] And then I also see every time there's a batch of check that gets out we have called positive pay that we upload to the bank.
[7:00] And so that goes in so that every check is matched against what you see it is.
[7:06] You upload to the bank.
[7:09] this check was to the card dealership or the, you know, the grocery store and it was this much.
[7:18] It has to match up exactly. Otherwise it'll like something and we get messages every day to make sure that those are.
[7:23] So, do you foresee in the future a system where you don't even have to write checks anymore?
[7:30] I think the checks for us right now.
[7:33] I mean, I just, although I think that's trail right now, the way that we have it,
[7:37] I really don't like her that hurts.
[7:39] I don't like the credit card statement
[7:40] because it's not a good trail.
[7:42] I mean, as far as, you know, like online bill pay.
[7:46] I mean, the card dealership could take
[7:47] a wire transfer versus.
[7:49] And we do, man, we call them, they're no taxes.
[7:51] We have doom and batches, but yeah.
[7:56] I mean, I just, yeah.
[7:59] It's interesting, the tools that are,
[8:01] all of us in another word.
[8:03] I mean, it's crazy.
[8:04] I mean, we're learning something new
[8:06] and we're being introduced to new technologies all the times crazy.
[8:11] I mean, we're, our heads are spinning.
[8:12] We're kind of in the middle of it.
[8:14] And it's right now we don't have the system set up for all ACH things.
[8:20] And I prefer because of all the processes that we go through
[8:23] to actually send that checkout and get it stuffed in mail.
[8:27] If you just had an ACH go through, that's, that's cutting that lack of
[8:32] know, segregation of duties down because maybe you know someone could go and create that.
[8:37] I don't know.
[8:38] Going with that older process does allow more people to have oversight and interaction
[8:43] with the transaction in the way.
[8:46] I don't know how you feel.
[8:48] Yeah, I mean, there's certain things like tonically that you can do as far as I can
[8:52] kind of sign off some things, but stuff like things that we're seeing more.
[8:57] But yeah, you don't want to make it even first situation
[9:01] and having less segregation of duties by
[9:03] and then I'm going to check on it.
[9:05] Attached to it about sure it has the
[9:07] invoice of what it is.
[9:10] So yeah.
[9:10] It's cool.
[9:11] These paper.
[9:12] Yeah.
[9:13] Well, we have a scan.
[9:14] Actually, we have the scan copy.
[9:16] Everything's scanned in right now.
[9:17] Where's paper copy going in?
[9:19] We keep it for a year until it's.
[9:21] Exactly.
[9:22] Because we're all going in and then it'll go.
[9:24] For attention.
[9:25] And we pay to have it taken care of.
[9:27] No.
[9:28] We're not keeping those anymore.
[9:29] You know, we pay for somebody to come in and shred it.
[9:34] We just saw throw it away.
[9:36] We send it out.
[9:39] Oh, we get it out.
[9:40] Um, three o'clock and we've done that.
[9:42] Um, and then other times we have shredders and we, then we can pay for it.
[9:45] But that was kind of our mass that we had a mass in the last couple of years.
[9:49] Our records back up.
[9:50] And that's when there were so many that there's no way we could pay.
[9:53] We applied the attention and they came in and we set up a date and they brought out.
[9:57] They loaded up a truck and
[10:14] We should continue to look for more additional positions or dedicated people that wouldn't kind of interact and just add as an extra kind of offer.
[10:27] like if there are changes that are made in the cycles to make sure the things are covered
[10:31] as changes get made and technology happens.
[10:36] As well.
[10:38] Same mark just for the record I did.
[10:41] It was like page 79.
[10:43] It was after the draft.
[10:46] No, I just, I, because I always liked to know if there's something missing, but it was at
[10:51] the end of the page.
[10:52] I didn't know what's route.
[10:53] So I'm sorry by putting it in the wrong order.
[10:59] It wasn't page 80.
[11:01] No.
[11:02] No.
[11:03] No.
[11:03] No.
[11:05] The second section, this is a couple of things that we've helped with the city this year,
[11:11] in the past, the PSC report, financial report, form to the statement,
[11:16] and your report in July that's due.
[11:18] So those are just listed there.
[11:22] Now to get into the numbers, we can go over the general fund first.
[11:27] This is a similar summary in years past where we have the balance sheet showing here the last four years,
[11:34] and then the revenues and expenditures shown below.
[11:37] So I'll note a few things on the balance sheet.
[11:40] You'll notice that do from other funds.
[11:45] So that's like the third line down.
[11:47] So if you look at this is comparing the last year of this year now.
[11:50] It went down from 1.2 million down to 297,000.
[11:55] And there was an amount that was due to the general from the public-saving building fund,
[12:01] is like around a million dollars.
[12:02] So that's the reason why it came back down to 24 was kind of the anomaly of why it was
[12:07] so high.
[12:11] If you go down in the fund balance section under a sign, there's a few things that are in
[12:19] there.
[12:19] Some of the sign dollars related to solar circle in the music series that we just classify
[12:24] that as a sign in that section.
[12:26] We have news and expenditures.
[12:31] You'll see just a gradual increase with both over the last four years, which makes sense
[12:36] enough in a growing city.
[12:40] The number that changes more is that net other financing sources and uses, though, the
[12:46] large amount last year related to those alers.
[12:50] There's some investments that were transferred to the capital projects fund last year.
[12:54] So that's why it's thick-celled so much that 4.6 million in 2024, we laid it to that and we'll talk about that too when we get to the Capital Project's fund, you'll see that shop there as well and we'll move back at 2024.
[13:10] But overall, you know, at the end of the year, the general fund, at a net loss at 370,000, really the general fund's goal is to break close to even almost every year and I mean it's pretty close, 370,000.
[13:23] And that was our last year for budgeting that 400,000 to from reserves to stay equal.
[13:32] And then now 2026 we budget it that we don't we're not using that we don't have that in our budget.
[13:39] And you look back in 23 and 22 and it's close to zero as well.
[13:44] But Dan, what was our cash should investments so much bigger in 23 and 22?
[13:50] So we?
[13:51] Oh, that relates to those investments from alers.
[13:53] That transferred over to the federal projects.
[13:55] So if you look at the capital projects, one's balance sheet, that's right, we don't let it go.
[14:02] We don't let it go, we don't let it go.
[14:03] Just a reclassification of the investments that we're, they should have been.
[14:10] We have a calculation on the bottom there.
[14:13] It takes the on assigned fund balance was the 5.2 million,
[14:17] divided by the expenditures, the 8.5 million.
[14:20] So really, what's that saying is, you know, if you have the same amount of expenditures next year,
[14:24] your fun balance could cover, you know, 61% of the year of the cost.
[14:31] And it's gradually decreasing over the last four years.
[14:35] I don't necessarily think it's a no bad thing.
[14:37] It's just a matter of using the fun balance, the what you have at the time.
[14:42] A lot of times we see like 30 to 40 percent.
[14:45] So you're still a little bit average.
[14:47] Do I see as far as you're available fun balance for the future?
[14:50] .
[14:59] The next
[15:00] This section is the special revenue funds. It's a little different format than the general fund. It just shows the fund balance at a set in time. So it's just the balance of that fund, you know, all four years. Public library, you'll see the gradual increase over time. There's a larger jump in 2024 up to 580,000 that we've related to the, there's a 183,000 donations.
[15:32] The CDBG residential loan fund, that's stays consistent, there's not a lot of activity that happens in that fund.
[15:39] The yard fund, that's new, not a whole lot of activity in the current year, just a smaller positive balance of 10,000.
[15:48] In the affordable housing fund, that was created back in 2023 as you can see there.
[15:54] There's 220,000 transit from TID2, if we're close, that just interest income in 2024,
[16:04] then 2025 there was 6.2 million transit from TID3 before it was closed.
[16:11] That's like the large, from May 4 to 25.
[16:20] The debt service fund, the fund balances those,
[16:24] is pretty consistent. The revenue is coming in the property taxes and the transfers in from
[16:29] the tids offset with the debt payments that are made. So, for example, in 2025, you know,
[16:36] the property tax revenue and 4.5 million was transferred from TID-3 to pay debt.
[16:44] So, overall,
[16:45] there was $5.8 million, almost $5.9 million of principle and interest that was paid out of
[16:53] at service fund in 2025.
[16:58] And the 10th portion we didn't have to text, so that allowed the tip paid for that much
[17:04] of the net service, which was more than 0.5 million, but the tip.
[17:14] The tip.
[17:21] That takes us down in the section 6, the capital projects funds, the tids are listed on top
[17:27] there, the neighborhood container grant,
[17:30] Hillcrest Safe Room, a new fund, public safety
[17:33] building capital projects fund.
[17:36] Two, two, you'll see, zero, and that did close in 2024.
[17:41] Tid three, then this is the fund balance of point and time
[17:45] at the end of the year, like we looked at the special revenue
[17:48] funds, so it's the same sort of presentation.
[17:50] one from 11.1 down to 4.7. During the year, well, part of that was that the transfer
[18:00] over to the debt service fund to pay the debt. Like I said, the 4.5 million. Let's see.
[18:10] And then the transfer to the affordable housing
[18:17] system.
[18:20] Yes, yep.
[18:21] The 6.2 million.
[18:23] Yep.
[18:26] Yeah, certainly.
[18:27] There's still property tax return under that came in,
[18:29] but, you know, the costs offset that to bring the balance down.
[18:33] And then it's closed though in 2026.
[18:36] And then paid to the other tax and jurisdiction.
[18:39] What was left over?
[18:44] To 4, the negative fund balance went down from 1.3 million down to 794,000.
[18:52] It's just a matter of the property tax revenue increased.
[18:56] It was higher than the cost for the year.
[18:59] So there's more cost than to 4 and 2024.
[19:04] More of a timing than what the cost is going to happen.
[19:07] But the property tax revenue keeps coming in.
[19:10] So if you look at it for, we did the Wells Asian nine, we're charged to four to
[19:16] right that's in there, in part of the payment for that.
[19:20] So that means it's going to be in the hole for a while, it expenditure period is completely done.
[19:24] But at the end of 2025, it still was in the negative of a 794.
[19:28] So that's what we still got to collect and tax revenue to be able to pay for all the bills that it
[19:33] was. And then it'll continue to just kind of go down. Keep going down as we collect that.
[19:44] The neighborhood container grant went to zero on 20, 25 that flows.
[19:49] Project was done.
[19:51] They'll cross safe room. There was some cost in there.
[19:54] Some kind of news that came in, but just a negative smaller balance. So far. I mean, that's fun.
[20:00] And that's all by Grange, or backed by Hillcrest.
[20:04] We need this cost that are covered by grant funds. We'll be paid by Hillcrest. So this is just a point
[20:10] time. At the end of that project, the city will be nothing.
[20:18] Sorry, safety building. Public safety building also closed in 2024 for that project.
[20:24] Capital projects fund. You'll see there. This is kind of what Tim brought up. You'll see the jump
[20:30] here from 23 to 24, the 3.9 up to 6.4 and the head to do with those investments that were transferred
[20:37] over the ALERS investments. Then in 25, it went up another million dollars, just the activity
[20:43] in that account, you're in that fund cause that. So if you look at, there's almost $4.2 million
[20:50] at issued. So there's 1.4 million in revenue. 5 million was spent. So there's a lot of
[21:00] itself, it'll show that detail of the expenditures that I've reviewed, but it's a time
[21:05] and thing a lot of time with capital projects, fun you'll have, debt-regrance, commitment
[21:09] might not get spent right away, depending on the order of things.
[21:14] So,
[21:21] now to the utilities, the water utilities first, has similar representation as far as the
[21:28] columns as the general format where you can see the balance you'd over the last four years,
[21:34] And then down below here, we have the change in that position
[21:37] and some ratios that we do.
[21:41] The first thing I wanted to note, you'll see the cash
[21:43] went up about a million dollars from 24 to 25.
[21:48] There was some debt proceeds that were received during the year
[21:51] 875,000.
[21:54] And you also see that the corresponding long-term obligation
[21:57] also went up for the year.
[22:00] But there also payments made on that.
[22:02] So it's not a billion, but that also increased,
[22:05] but that was the reason why other current assets you'll see.
[22:11] And Tina was talking about this, how it jumped up
[22:14] from like 451,000 up to 2.1 million.
[22:17] That's the amount owed from Tid4 for those wells.
[22:25] And they're going to do to the water utility from the Tid.
[22:32] And that Tid4 will just pay those over the life of that safe drinking water loan.
[22:40] Otherwise, I didn't really notice anything else.
[22:42] The statement of net position, everything, no comparing this year to last year.
[22:47] We look at the current ratio.
[22:48] And the current ratio is your current assets divided by your current liabilities.
[22:53] So you take, you know, the 3.1, 2 million add those together and divide it by your 571,000.
[23:01] So it's sitting really strong. I mean, anything over one is desired. So it's the balance sheet is sitting in good shape or the statement of that position and went up so much from last year because of the cash and crease basically.
[23:14] And that's borrowing every other year, you know, one year, we're going to have a lot of cash. Next year, we're not going to.
[23:20] We're going to have a lot of cool stuff.
[23:23] All that water made.
[23:26] We have to speak to you first.
[23:32] The change in net position, I mean, that's been a higher the last three years, and it really has to do with the contribution.
[23:39] So, for example, for 2025, there was, see, I think it was around $800,000 that was contributed from TID-3 for the White Tail.
[23:51] would's project. So if you look at last year in 2024, there's 1.5 that was contributed.
[23:59] So anything that's going to be paid for by a governmental fund, but still gets recorded
[24:04] on utility, still gets recorded as revenue, and that's what are making those dollar
[24:08] amounts so high, and that probably will continue over time, and this is all these projects
[24:13] happen.
[24:14] And that's contributed not only, governmentally, it's from the developers as well.
[24:19] Yeah, they can also be included in there too, to be over.
[24:22] So like, before we accept the road, they have to get it up.
[24:26] And then it becomes our street.
[24:29] So then they contribute it to us.
[24:31] So it's now our street.
[24:31] So we have to record that as our assets.
[24:34] Mm-hmm.
[24:35] Yep, exactly.
[24:37] Radar return is a PSE number.
[24:40] States consistent.
[24:41] If you're looking the last four years, pre-consistent.
[24:45] And the last rate adjustment was in 2024, in 17th.
[24:53] sewer utility, same thing as the water as far as the cash, cash went up some and so did the
[25:00] Long-term obligations, so let's do it. $725,000 of debt proceeds that were received.
[25:08] One thing to note on the sewer utility we talked about this and to make sure what we did record the amount,
[25:14] because we have an amount that we still owe to the city of O'Clare.
[25:17] I got a number of Christian, a really good number.
[25:20] We booked an amount as a payable and an expense so that the financial statements aren't off.
[25:26] So it's not just sitting on there that we only spent this much in one year.
[25:33] Exactly.
[25:38] You see the capital assets also went up, you know, 1.5 million.
[25:41] And I had to do a contribution from the White Tail Woods T3 project.
[25:46] So see the increase there.
[25:51] Otherwise the rest of this thing of net position looks pretty consistent with last year.
[25:56] Your current ratio is looking good consistent, you know, at six.
[26:00] change in that position, the reason why I so high is that contribution from the
[26:06] white tail with its project 1.5 million and that's why 2024 was down, but 2023
[26:12] must have had another contribution. So you can see how it can fluctuate from
[26:16] you to year a lot depending on what's contributed.
[26:24] The stormwater fund, that
[26:27] position, pretty consistent, that wasn't going to go over anything there.
[26:35] Current
[26:35] a good high number, the change in that position, I mean you can see it's kind of gradually
[26:40] decrease in F's. No expenses being higher. Which made all the more sense why we did a stormwater
[26:47] study in increase the rate. And it was a good time to do that.
[26:57] Good tractor.
[27:05] Section 8, this is all your welcome obligations. We talked a little bit about the depth,
[27:11] out, summarized it again here, this is a nice little snapshot of a point in time of how much
[27:16] liabilities you had. So for your general obligation note, so we talked about in total
[27:23] it was like $6.1 million with a new Geo note, $4.170, $470,000 went to the capital projects fund,
[27:35] so that's like an addition to this, so it would have bumped it up. But on the other hand,
[27:40] you know, 550, 550, 550,000 was paid on principle, so that brought it down at that.
[27:47] Tid number three, no was totally paid off, it was like 3.8 million.
[27:53] So it nets the not changing a whole lot from 15 down to 14, but there was some activity in there
[27:59] causing that increase and decrease.
[28:02] Which in 2026 we won't be borrowing, so we'll be paying debt, but not borrowing so that
[28:10] go down, and then I'll go back up in 27 when we borrowed it down in 20.
[28:16] Yeah, that'll fluctuate.
[28:18] Unless we have to buy the fire truck or something.
[28:21] Yeah.
[28:21] In 26, yes.
[28:23] Yeah, and you can see that in 23 to 24, how it went down.
[28:26] There's this principle of hands made.
[28:28] That would be what we'd be expected then.
[28:30] 26 like Tina said.
[28:32] If you go down under business type activities, the general obligation notes.
[28:35] mean you have your normal payments that are made, but then then that new note in 2025
[28:42] 1.9 million was allocated to
[28:46] utilities, and that's why
[28:48] even though some payments are made.
[28:53] The least liability going back up here
[28:56] Your normal payments are made on the lease, but there is also 230,000 and new leases and
[29:06] is transferred down here to the business type or utility
[29:11] leases. So overall there was some new leases and payments made,
[29:16] but it's just showing the difference from how, you know, the business
[29:20] type went up and then the lease liability for your governmental type funds
[29:26] went down.
[29:31] WRS and life insurance, OPEB, that's just the city's portion of the
[29:39] the allocator certain, every city or whoever's in that,
[29:43] WRS gets allocators certain dollar amount
[29:45] they have to record as a liability
[29:47] and sometimes with WRS it can be an asset.
[29:50] Like if you look back in 2022 is actually an asset
[29:52] at that time.
[29:56] Your old pad liability, that's just the city itself.
[30:00] That large change, back in 23 to 24, went from 1.4 million down to 800,000, and that was the change.
[30:10] And I think the plan itself, I think, retirees hired after 21, 23, but no longer be eligible for the benefit.
[30:18] The police department change.
[30:21] So that's why you see that decrease there. It's going to fluctuate a little bit here and there, just depending on the actual study.
[30:26] but that's why that large drop happened in 23 to 24 with that liability.
[30:34] The mortgage revenue bonds for business type, the plan payments were made on that just
[30:40] went down a little bit.
[30:43] Then there's a calculation of the bottom, your debt limit is calculated based off of your
[30:49] equalized valuation at 5% of it, so the city could borrow up to almost 70 million in general
[30:57] obligation notes or bonds, but right now you're only at 18.9 million and that's just adding
[31:03] up the general obligation notes from business type and governmental activities. Those two numbers
[31:09] combined is what makes the 18 million. It's 27% of your limitation or the debt limit
[31:19] is what you borrow on and so far. That's pretty consistent to what I see. May every city is a
[31:25] little different, but it's kind of in line. Would I see it other cities as well?
[31:30] But I've been working for other municipalities that do not have the equalized value and it's really
[31:34] difficult. You get up to that limit. It's the point of these big projects. So we're fortunate to
[31:44] be.
[31:44] That's all. All the notes I had. I don't know if there are any other questions at all.
[31:53] And do you want him to come to the council, or are you do you feel comfortable, whatever you make for a recommendation?
[32:01] I feel comfortable.
[32:03] Lesbian wants to stick around and...
[32:06] Hang on.
[32:06] I'm okay enjoying the evening.
[32:09] That's what you guys appreciate you.
[32:12] One thing that did happen in the years,
[32:16] they lost one of their other lead auditors.
[32:19] I really, I missed him this year.
[32:21] Logan was really not the Madison is a great but Logan was really good I miss it.
[32:29] Yeah you've been with the firm for four years now he's working on a card dealership down on
[32:33] on OCO.
[32:34] Yeah yes it's a sold-up.
[32:35] It's a sold-up.
[32:37] It's a sold-up.
[32:38] To do what?
[32:39] To sell cars?
[32:41] No, I have these the finance.
[32:44] Man that's all the financing for the deal.
[32:46] We'll deal with the other ships.
[32:47] So, follow well.
[32:49] Yeah.
[32:58] I'm good.
[33:00] Any other discussion?
[33:01] Mark willor, are you good?
[33:02] I'm good.
[33:04] Just a little bit.
[33:05] Just a little bit.
[33:06] Just a little bit.
[33:06] I'm good.
[33:08] Something like that.
[33:10] Yeah, I'm going to use that number of cards.
[33:12] Use that number of cards.
[33:14] Yeah.
[33:15] In a 70, that's your 84.
[33:20] So then I think this committee is, if you feel comfortable on it,
[33:25] And that goes to the council and then the council actually approved the resolution and closes the bus.
[33:31] You have the wording for the motion.
[33:33] Uh-huh.
[33:35] Recommend the council acceptance of the comprehensive annual financial report for 2025 as presented by Clifton Larsson Allen.
[33:43] So, we have a motion.
[33:46] I'm second.
[33:47] In a second, all in favor say aye.
[33:50] Aye.
[33:50] Aye.
[33:50] Any opposed?
[33:51] Motion carries.
[33:53] Thank you again.
[33:53] Yeah, this is like a damn or it and yeah, the work you guys put on this really almost make it a lot of sense
[33:59] Thanks again. What you do. Thank you. Enjoy the evening. Hold the Bruce Peele
[34:09] Yeah, again, Tina. I think that was that's just just to be able to show here
[34:13] Yep, the adjustments of the difference is this is there. This is there like it makes sense
[34:19] Hey, stop the time through
[34:29] Well, we'll get to let the boss finish up this stuff here.
[34:32] Right, I'd say to him, and you miscellaneous.
[34:35] Well, I just want to say thank you, Ketina, and her in our team for all their work on this.
[34:41] So, it takes quite a bit of work to get to this point, and you know, and so I just want to say thank you.
[34:46] Thank you.
[34:49] It's always something, you know?
[34:51] I'm just finished.
[34:52] I'm working in three years right now.
[34:54] We're working in just finished 25, working in 26 and working in 26.
[34:58] That was budget for like
[35:00] Sometimes I rate the wrong year down, I'm like, Whoops!
[35:04] Thank you.
[35:07] And at that, we'll take a motion for adjourment.
[35:09] Let's move to adjourned at 537.
[35:13] Roll a second.
[35:14] Motion, second, all in favor, say aye.
[35:16] Aye.
[35:17] Very adjourned.
[35:18] Thanks again.
[35:20] So, tell me, please.