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06/28/2010 Council Packet
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06/28/2010 Council Packet
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City Council
Council Document Type
Council Packet
Meeting Date
06/28/2010
Council Meeting Type
Regular
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• STAFF ORIGINATOR <br />MEETING DATE <br />TOPIC <br />VOTE REQUIRED <br />• <br />• <br />BACKGROUND <br />AGENDA ITEM 2A <br />Al Rolek <br />June 28, 2010 <br />Accept 2009 Audit Report <br />Simple Majority (3/5) <br />Craig Popenhagen and Michelle Bruley of LarsonAllen, LLC will be in attendance at the meeting to <br />provide a brief overview of the City's 2009 Annual Financial Report, present the auditor's <br />management analysis and answer any questions you may have with regard to the financial <br />condition of the City. <br />The 2009 annual audit was undertaken by the City's auditors, LarsonAllen, LLC, earlier this year, <br />with field work being completed in April. The auditors review all financial transactions and the <br />financial reports of the City over the previous year for their fairness in presentation and for full <br />disclosure of all material aspects of the City's financial condition. This review is conducted in <br />accordance with generally accepted auditing standards and the standards applicable to financial <br />audits contained in U.S. Government Auditing Standards, issued by the Comptroller General of <br />the United States. The auditors concluded that the City's financial statements for 2009 presented <br />fairly, in all material respects, the financial position of the City as of December 31, 2009. The <br />auditors also issue their reports on the City's legal compliance with certain laws, regulations, <br />contracts, etc., our internal control structure, and management issues. <br />It should be noted that the City has received the Certificate of Achievement for Excellence in <br />Financial Reporting from the Government Finance Officers Association of the United States and <br />Canada for its 2008 Comprehensive Annual Financial Report. This is the fourteenth consecutive <br />year that the city has received this award. We believe that the report issued for 2009 continues to <br />uphold the standards of reporting excellence that this prestigious award represents. <br />Following the presentation by Mr. Popenhagen and Ms. Bruley, staff recommends that the City <br />Council formally, by motion, accept the 2009 Annual Audit Report. <br />OPTIONS <br />1) Approve a motion accepting the 2009 Annual Audit Report. <br />2) Return the report to staff for further review. <br />RECOMMENDATION' <br />Option 1. <br />
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