06/11/1992, Special Meeting MinutesPage 1902
MINUTES OF
KENNEliALE CITY COUNCIL
SPECIAL MEETING - JUNE il, 1992
MAYOR'S OFFICE
Mayor Dill Abbott called the meeting to order at 6:34 PM.
Members present were Mayor Abbott, Mark Wright, Robert Mundy, Tom
Boone and Ron Kovach. Pete Kirkpatrick arrived at 6:52 PM.
Staff in attendance were Ted Rowe, Linda Gress, and Vicki
Thompson.
ITEM NO. 1 - Presentation of Audit FY 1990-1991.
Mr. C. N. Guinn of Guinn & Scott Certified Public Accountants
presented the audit. Mr. Guinn stated that the city was in a
very strong financial position; however, the internal control was
weak due to the size of the city. There were not enough
employees to separate money functions from accounting. The
employee fidelity bond had previously been decided by Council to
be not cost effective. 'The cash position was good. Water
shrinkage increased to 18% from 12% for the previous year. Ted
Rowe stated that the "lost water appeared to be caused by pump
meters being inoperative and the estimate we used were
inaccurate. A report sent to Austin last week accounted for 96%
of water pumped for the month of May 1992.
Mr. Guinn complemented the city. staff for their hard work and
effectiveness in managing the city financial assets..
Page 1903
Mayor Abbott adjourned the meeting at 6:58 PM.
APPROVED:
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Mayor Bill Abbott
ATTEST:
City Secretary
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