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HomeMy WebLinkAboutCC Min 1987-01-19 1-12-87 / 1-19-87 Approved: ~~~ Attest: I Seal Beach, California January 19, 1987 The City Council of the City of Seal Beach met in regular adjourned session at 3:06 p.m. with Mayor Clift calling the meeting to order with the Salute to the Flag. ROLL CALL Present: Mayor Clift Councilmembers Hunt, Wilson Absent: Councilmembers Grgas and Risner I Councilman Grgas arrived at the meeting at 3:08 p.m. Also present: Mr. Nelson, city Manager Mr. Joseph, Assistant City Manager Mr. Thomas, Finance Director Mr. Knight Director of Development Services Chief Dorsey, Lifeguard Department Mrs. Walker, Administrative Aide Mr. Malkemus, Administrative Aide Ms. Bennington, Secretary to the City Manager Mrs. Yeo, City Clerk I ACCOUNTING SYSTEMS WORKSHOP The Finance Director, Mr. Thomas, opened the informal accounting workshop with an overview of the City's present cash basis accounting system. He explained the various funds, revenue accounts, cost centers, budget programs and expenditure accounts, as well as various service functions performed, and financial data and reports generated by the Department which include revenue and expenditure reports, fund balance statements, treasurer's reports, trust fund reports, and the annual financial statement and CPA report. Mr. Thomas advised that although the present accounting method is satisfactory, major revisions are planned to initiate a modified accrual accounting system by mid-19B7, which is felt would provide a more accurate financial picture for the City, also noting that a standardized method of accounting may become mandatory in the future. Mr. Bill Morgan, Diehl, Evans and Company, spoke to the specific procedures and information that would be necessary to covert to the modified accrual system, the benefits of and the procedural problems that would likely arise during the process. Mr. Morgan suggested that the City could implement the new system gradually by initiating the modified accrual l-19-B7/ 1-26-B7 system at the beginning and end of the fiscal year and continuing the cash basis method during mid-year. Throughout the workshop members of the Council and staff discussed various aspects of the City's accounting system, with the Council indicating support for coverting to the modified accrual method of accounting. ADJOURNMENT The Council, by unanimous consent, adjourned the meeting at 4:52 p.m. I Attest: clerk of the Approved Seal Beach, California January 26, 1987 I The City Council of the City. of Seal Beach met in regular session at 7:01 p.m. with Mayor Clift calling the meeting to order with the Sa~ute to the Flag. ROLL CALL , Present: Mayor Clift Councilmembers Hunt, Wilson Absent: Councilmembers Grgas, Risner The Council, by unanimous consent, excused the absence of Councilmembers Grgas and Risner. Also present: Mr. Nelson, City Manager Mr. Stepanicich, City Attorney Mr. Joseph, Assistant City Manager Mr. Knight, Director of Development Services Mr. Hemphill, City Engineer/Director of Public Works Mrs. Yeo, City Clerk I WAIVER OF FULL READING Wilson moved, second by Hunt, to waive the reading in full of all ordinances and resolutions and that consent to the waiver of reading shall be deemed to be given' by all Councilmembers after reading of the title unless specific request is made at that time for the reading of such ordinance or resolution.