[CALL TO ORDER:]
[00:00:04]
SO I'M GOING TO CALL THIS SPECIAL COUNCIL MEETING 2022 DASH 17 TO ORDER.
BEFORE WE DO ANYTHING, I'D LIKE FOR COUNCILMAN FOSTER TO LEAD US IN THE PLEDGE OF ALLEGIANCE.
WOULD YOU ALL RISE? ALLEGIANCE TO THE FLAG.
ROLL CALL. MISS LEFLER MAYOR MEDINA DEPUTY MAYOR JOHNSON HERE.
COUNCILMAN FOSTER COUNCILMAN FELIX.
HERE. AS YOU KNOW, WE HAVE ONE ITEM ON ON BUSINESS IN THIS SPECIAL COUNCIL MEETING.
[1. Presentation by Moore Stephens Lovelace, P.A. - Comprehensive Annual Financial Report for Fiscal Year ending September 30, 2021; consideration of forwarding the report to the Auditor General.]
AND MISS SHERMAN. THANK YOU, MAYOR.MY PLEASURE. TO INTRODUCE EDDIE CASTANEDA FROM MOORE, STEPHEN'S AND LOVELACE.
GOOD TO BE HERE. THANK YOU, SUZANNE.
AS SUZANNE MENTIONED, I'M THE SENIOR MANAGER AND THE ENGAGEMENT FOR THE FINANCIAL STATEMENT AUDIT.
YOUR SHAREHOLDER, JOEL KNAPP, COULD NOT MAKE IT TODAY, BUT I'M HERE IN HIS STEAD.
SO YOU SHOULD HAVE BEEN GIVEN A LETTER FOR OUR REQUIRED COMMUNICATIONS PER OUR STANDARDS WERE REQUIRED TO COMMUNICATE TO THE TO THE COMMISSION CERTAIN COMMUNICATIONS THAT WERE REQUIRED AS THOSE CHARGING GOVERNANCE WHO ARE THE OVERSEERS OF THE CITY AUDITOR RESPONSIBILITY RESPONSIBILITIES, WHERE WE CONDUCTED THE AUDIT IN ACCORDANCE TO GENERALLY ACCEPTING AUDITING STANDARDS AS WELL AS GENERALLY ACCEPTED GOVERNMENTAL AUDITING STANDARDS, WHICH IS A KEY DIFFERENCE IN HOW WE APPROACH AUDITS FOR LOCAL FLORIDA GOVERNMENTS.
MANAGEMENT'S RESPONSIBILITY IS TO PROVIDE US WITH ALL THE INFORMATION THAT WE'VE REQUESTED.
EVERYTHING WAS OPEN DOOR, EVERYTHING WAS GIVEN TO US.
INTERNAL CONTROLS AND COMPLIANCE.
AND AS IT RETURN, AS IT RELATES TO INTERNAL CONTROLS, SIGNIFICANT AUDIT MATTERS, THERE'S A LETTER COMMUNICATED TO THE COMMISSION, I THINK BACK IN, I WANT TO SAY FEBRUARY, WHERE WE GO OVER THE SIGNIFICANT AUDIT AREAS AND WHAT WE'RE GOING TO BE TESTING MANAGEMENT IS PROVIDED US A REPRESENTATION LETTER DATED LAST FRIDAY THAT THEY'VE GIVEN US ALL THE INFORMATION THAT WE REQUESTED AND THAT THE AUDITS AND THEN OTHER THINGS LIKE THE ASSIGNED INDIVIDUAL FOR OVERSIGHT, WHICH IS MARSHA AND THE AUDIT SCHEDULE.
SO THE DELIVERABLES THAT WE DELIVERED TO THE CITY IS OUR, THE, OUR AUDIT REPORT.
IT WAS AN UNMODIFIED OPINION, WHICH IS THE QUOTE UNQUOTE CLEAN OPINION.
THERE WAS NO INTERNAL INTERNAL CONTROL FINDINGS AS WELL, AS I MENTIONED.
THERE WAS FINDINGS IN PREVIOUS YEARS.
WE'RE HAPPY TO SAY THAT THOSE FINDINGS HAVE BEEN RESOLVED AND COMPLETED.
AND NOW THE CITY IS IN ACCORDANCE IS IN COMPLIANCE WITH ITS C, PARTICULARLY ITS CDBG GRANT.
LASTLY, THE FLORIDA AUDITOR GENERAL REQUIRES US TO ISSUE TWO SEPARATE REPORTS.
ONE CALLED THE AUDITOR'S MANAGEMENT LETTER AS WELL AS THE INDEPENDENT ACCOUNTANTS REPORT.
AND WE'RE HAPPY TO SAY THAT THE CITY IS IN COMPLIANCE WITH THAT STATUTE.
SOME BRIEF FINANCIAL HIGHLIGHTS HERE.
WE'D LIKE TO DO JUST KIND OF AN OVERVIEW OF A COMPARISON FROM PRIOR YEAR.
YOU COULD SEE THE THE CITY CLOSED HIGHER THAN PREVIOUS YEARS AND IT'S CHANGING THAT POSITION AS WELL AS ITS OVERALL NET POSITION.
[00:05:01]
THIS WAS RELATED TO THE GO BONDS, THE SECOND TRANCHE OF GO BONDS THAT WERE THAT WERE ISSUED LAST FISCAL YEAR, AS WELL AS INCREASES AND IMPACT FEE COLLECTION DUE TO ALL THE VARIOUS COMPLETION OF CONSTRUCTION PROJECTS THROUGHOUT THE CITY.SO THAT DID RESULT IN A HIGHER NET POSITION AND ACTUALLY A HIGHER RESTRICTED NET POSITION.
AS YOU CAN SEE, IT WAS FROM 33 MILLION TO 78 MILLION IN THE CURRENT YEAR.
SOME BRIEF HIGHLIGHTS FOR THE GENERAL FUND HAD A GOOD YEAR.
AND THAT CHANGE IN FUND BALANCE WAS APPROXIMATELY 6 MILLION.
AND THE GENERAL FUND'S OPERATING TOTAL FUND BALANCE INCREASED BY SIX 6 MILLION AS WELL.
HERE IS THE UNASSIGNED FUND BALANCE AS A AS A PERCENTAGE OF YOUR TOTAL EXPENDITURES.
THAT WOULD MEAN AND THAT'S AT 40% WHICH IS ROUGHLY YOU HAVE THE CITY IN THE GENERAL FUND HAS A 40% KIND OF CUSHION TO COVER OF THEIR UNRESERVED FUND BALANCE TO COVER THE THE A YEAR'S WORTH OF EXPENDITURES BASICALLY.
SO THAT IS A GOOD KEY INDICATOR AS WELL.
AGAIN, WE'RE SEEING SOME IT WAS PRETTY STEADY AS IT HAS BEEN OVER THE FEW YEARS.
AND YOU WANT TO YOU WANT TO GET THOSE KIND OF EXACTLY AS AS IT AS IT CAN.
SORRY, WHAT IS THAT LIKE 20 MILLION? AND OTHER THAN THAT, ANY QUESTIONS OR COMMENTS FROM THE.
MEMBERS ALSO, I'LL START ANY QUESTIONS.
NO QUESTION. GREAT PRESENTATION.
I REALIZE THIS IS YOUR LAST YEAR, CORRECT? CORRECT. THANK YOU FOR EVERYTHING YOU'VE DONE.
IT'S BEEN OUR PLEASURE. AND JUST WANT TO SAY THANK YOU FOR THE WORK YOU'VE DONE FOR THE CITY.
APPRECIATE IT. IN YOUR OPINION OVERALL.
WHAT GRADE YOU WOULD GIVE TO GIVE THE CITY OF PALM BAY FOR HIS FINANCIAL CAPABILITY.
FROM THE FINANCIAL STATEMENTS.
WELL, AS AN AUDITOR, I'D LIKE TO BE GRADE NEUTRAL.
THE CITY HAS HAD SOME CHALLENGES.
I'VE BEEN HERE FOR FOUR YEARS NOW, PARTICULARLY IN THOSE FINDINGS RELATED TO CDBG.
YOU NEVER REALLY WANT TO SEE FINDINGS IN DEALING WITH A FEDERAL AGENCY, ESPECIALLY WHEN IT HAS GRANT DOLLARS ASSOCIATED TO IT, AND ESPECIALLY A HIGH PUBLIC PROGRAM SUCH AS CDBG, THAT A LOT OF CITIZENS, YOU KNOW, THEY DO RELY ON SOME OF THOSE FUNDING.
SO IN THAT CASE, I GIVE THE LIKE A GOOD GRADE, I GUESS, AN A-PLUS ON GETTING THOSE FINDINGS RESOLVED SO THAT YOU HAVE NO OVERSIGHT.
SO THAT'S IT'S ALWAYS POSITIVE.
SO ALL OUR FEDERAL GRANT PROGRAMS. BUT MUST THAT? I WOULD SAY I'M SORRY.
YOU KNOW, MEET THE MUSTARD CUTS.
CUTS THE MUSTARD MEANS. YES, THERE'S A LOT OF THE PROGRAMS THAT WE TESTED.
WE DIDN'T TEST EVERY SINGLE FEDERAL PROGRAM OR EVERY SINGLE STATE PROGRAM IS IT'S A CALCULATION ON HOW THOSE ARE SELECTED THAT ARE SET BY THOSE THOSE AGENCIES REQUIREMENTS.
BUT OF THE ONES THAT WE DID TEST, THERE WAS NO FINDINGS.
ARE YOU FAMILIAR WITH THE FEDERAL EXCUSE ME, THE STATE AUDIT THAT WE WAS UNDER? ON OPERATE THEIR OPERATIONAL AUDIT.
THE J LIKE. SO NONE OF THAT DID YOU COVER ANY OF THAT.
ANY THAT CROSSED PATHS OF WORDS? NO. SOME THINGS DO OVERLAP, BUT THEY DO.
BUT THE AG COULD REALLY THEY'RE REALLY MORE IN DEPTH THAN THINGS LIKE THAT.
IT'S JUST MORE, I GUESS, MORE IN THE MINUTIA THAN ANYTHING.
[00:10:03]
THANK YOU. DEPUTY MAYOR JOHNSON, I KNOW YOU.THANK YOU FOR YOUR SERVICE, SIR.
WE'VE BEEN HERE IN THE PAST FOUR YEARS TOGETHER.
SO SEEING ALL THIS STUFF RESOLVED, IT'S NOT JUST YOU'RE DOING YOUR JOB, BUT IT'S A CREDIT TO STAFF.
SO I APPRECIATE EVERYBODY AND THE SKY'S THE LIMIT.
YEAH, I CONCUR WITH YOU, DEPUTY MAYOR.
I WANT TO GO TAKE IT A STEP FURTHER.
YOU MENTIONED THE CDBG ISSUES THAT WE HAD AND AND HOW WHAT WAS ACCOMPLISHED TO CLEAR ALL THAT UP.
SO WE HAVE TO GIVE CREDIT TO THE STAFF.
AND, NANCY, YOU KNOW, THE LEADER OF THAT TEAM, IT DID TAKE IT WASN'T A NON DAUNTING TASK TO GET THAT ALL LINED UP. AND WHEN I HEARD YOU SAY WHEN I GOT THE INFORMATION THAT THAT IT'S CLEAR THAT THAT JUST GOES TO SHOW THE DEDICATED INDIVIDUALS THAT WE HAD ON THE JOB WORKING THAT OUT.
AND I'M REALLY PROUD OF THOSE EFFORTS.
I UNDERSTAND WE DO HAVE SOMEONE ELSE AND IT KEEPS IT KEEPS IT BALANCE, RIGHT.
KEEPS IT KEEPS THAT WHOLE PROCESS AT A HIGHER LEVEL OF INTEGRITY.
ABSOLUTELY. AND YEAH, THANKS TO SUZANNE AND LARRY AND MARCIA.
A REAL SPECIAL THANKS TO MARSHA WHO PUTS THIS DOCUMENT TOGETHER.
SO I DO WANT TO THANK HER SPECIFICALLY FOR ALL THE WORK THAT SHE DOES.
OUTSTANDING. THANK YOU, MARSHA.
THANK YOU. MY SEAT. THANK YOU.
THANK YOU, LARRY. AND AND MADAM SHERMAN, DID YOU WANT TO CLOSE WITH SOME COMMENTS? NO, I'LL JUST ECHO WHAT COUNCIL SAID.
THANK YOU TO YOU AND YOUR TEAM, EDDIE.
ALL THE WORK. ABSOLUTELY EVERYBODY ALL THE ALL THESE YEARS.
I NEED A MOTION MOTION HERE FOR THE REPORT TO THE AUDITOR GENERAL.
THEY CAN GOT A MOTION BY DEPUTY MAYOR JOHNSON, SECONDED BY COUNCILMAN FOSTER.
ANY ADDITIONAL DISCUSSION, GENTLEMEN? YOU'RE NOT ALL IN FAVOR.
AND HE OPPOSED PASSES UNANIMOUSLY.
WELL, THAT CONCLUDES OUR MEETING.
SO THIS MEETING IS NOW ADJOURNED.
* This transcript was compiled from uncorrected Closed Captioning.