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06-02-14 Council Packet
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06-02-14 Council Packet
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10/14/2014 1:51:37 PM
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City Council
Council Document Type
Council Packet
Meeting Date
06/02/2014
Council Meeting Type
Work Session Regular
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<br />WS – Item 1 <br /> <br />WORK SESSION STAFF REPORT <br />Work Session Item 1 <br /> <br />Date: June 2, 2014 <br /> <br />To: City Council <br /> <br />From: Al Rolek <br /> <br />Re: 2013 Annual Audit Report <br /> <br /> <br />Background <br /> <br />Rachel Flanders and Chris Knopik of CliftonLarsonAllen, LLC will be in attendance at the <br />meeting to provide an overview of the City’s 2013 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 /> <br />The 2013 annual audit was undertaken earlier this year, with field work being completed in April. <br />The auditors review all financial transactions and the financial reports of the City over the <br />previous year for their fairness in presentation and for full disclosure of all material aspects of <br />the City’s financial condition. This review is conducted in accordance with generally accepted <br />auditing standards and the standards applicable to financial audits contained in U.S. <br />Government Auditing Standards, issued by the Comptroller General of the United States. The <br />auditors concluded that the City’s financial statements for 2013 presented fairly, in all material <br />respects, the financial position of the City as of December 31, 2013. The auditors also issue <br />their reports on the City’s legal compliance with certain laws, regulations, contracts, etc., our <br />internal control structure, and management issues. <br /> <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 2012 Comprehensive Annual Financial Report. The city has received this award <br />each year since 1995. We believe that the report issued for 2013 continues to uphold the high <br />standards of reporting excellence that this prestigious award represents. <br /> <br />The presentation at the work session will be comprehensive and is intended to provide the <br />opportunity for council members to ask any questions or make comments about the audit report <br />and the state of city finances. Ms. Flanders and Mr. Knopik will also give an abbreviated <br />presentation at the regular City Council meeting on June 9, 2014, and the staff recommends <br />that the City Council formally, by motion, accept the 2013 Annual Audit Report at that time. <br /> <br />Requested Council Direction <br /> <br />None. <br /> <br />Attachments <br /> <br />Audit Powerpoint Presentation <br />2013 Comprehensive Annual Financial Report <br />
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