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<br />: "70 <br />l i.al . <br /> <br />TUESDAY, NOVEMBER 12, 1985 <br /> <br />with Uniform Financial Reporting Requirements (for municipal governments). Mr. St. <br /> <br />Lawrence also observed that, despite some criticisms in the report, City Treasurer <br /> <br />John W. Bouldin, Jr., and his staff ".....do an exceptionally good job", considering <br /> <br />the volume of transactions handled by the Treasurer's office. Mr. St. Lawrence <br /> <br />pointed out, too, as did City Manager Brown in a comparison of estimated fund balances <br /> <br />(i.e., surpluses) with the Audit Report's findings, that the City's financial condition <br /> <br />was good at the end of the fiscal year as a result of the under-expenditure of funds <br /> <br />appropriated and the realization of revenue in excess of estimates. <br /> <br />As to the Audit Report and its findings and/or recommendations, Council received <br /> <br />responses thereon or thereto from both City Manager Brown and City Treasurer Bouldin, <br /> <br />both of whom jointly conferred on these matters with Mr. St. Lawrence and City Finance <br /> <br />Director Richard D. Fitts, all of whom Mayor Cole recognized for their assistance and <br /> <br />exploration of these matters. Generally, it was pointed out, certain bookkeeping pro- <br /> <br />cedures have been or are being initiated to correct conditions cited by the auditors <br /> <br />whereas, regarding new organizational responsibilities and additional staff personnel <br /> <br />required therefor, it was deemed not cost-effective at the present time to effect the <br /> <br />auditors' recommendations thereon. <br /> <br />In accordance with subsections (1), (2), and (6) of Section 2.1-344 of the CODE OF <br /> <br />VIRGINIA (1950, and as amended), and upon motion, duly seconded and unanimously <br /> <br />carried (by a recorded vote), Council convened into an Executive Session for the pur- <br /> <br />poses of (a) considering nominees for appointment to certain boards and/or commissions, <br /> <br />(b) considering certain legal matters and being briefed thereon by legal counsel, and <br /> <br />(c) considering the disposition of City-owned property. Upon reconvening into regular <br /> <br />session, and upon separate motions and seconds, Council unanimously (1) authorized the <br /> <br />employment of Mr. J. Randolph Smith, Jr., Attorney at Law (and City Commonwealth's <br />