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03/02/1998-CC-Minutes-Work SessionMINUTES: City Council Workshop March 2, 1998 PRESENT: Mayor John Coker, Councilman Tommy Kincaid, Councilwoman Alice Madden, Councilman Mike James, Councilman Jimmy Frazier, Councilman Jerry Jenkins OTHERS PRESENT: City Administrator Larry Keesler, City Secretary Rosalie Chavez, City Auditor Bill Spore 1. Mayor Coker Called the Meeting to Order. 2. Discussion of Fiscal Year 1996-1997 Audit. City Auditor Bill Spore discussed our year end audit. Mr. Spore went over the revenues and expenditures. He explained how general grant fund revenues had to be shown in the budget as an expense. He did recommend that the best thing to do is to allocate the grant funds into the budget when the funds are received. Mr. Spore discussed in detail assets and liabilities. He discussed depreciation of the water department and electric department. These two departments are treated just like a business in regards to depreciation. He discussed his recommendation letter, and the need for all purchase orders to be signed by the department superiors before approval for payment. Mayor advised City Secretary that this was the same problem as last year. Mayor stated that in the future not to pay a purchase order unless it was signed by the department head. 3. Meeting Adjourned. Mayor ATTEST: