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06-09-14 Council Packet
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06-09-14 Council Packet
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City Council
Council Document Type
Council Packet
Meeting Date
06/09/2014
Council Meeting Type
Regular
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CITY COUNCIL <br />AGENDA ITEM 2A <br />STAFF ORIGINATOR Al Rolek <br />MEETING DATE June 9, 2014 <br />TOPIC Accept 2013 Annual Audit Report <br />VOTE REQUIRED Simple Majority (3/5) <br />BACKGROUND <br />Rachel Flanders and Chris Knopik of CliftonLarsonAllen, LLC will be in attendance at the meeting <br />to provide a brief 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 />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 previous <br />year for their fairness in presentation and for full disclosure of all material aspects of the City's <br />financial condition. This review is conducted in accordance with generally accepted auditing <br />standards and the standards applicable to financial audits contained in U.S. Government Auditing <br />Standards, issued by the Comptroller General of the United States. The auditors concluded that <br />the City's financial statements for 2013 presented fairly, in all material respects, the financial <br />position of the City as of December 31, 2013. The auditors also issue their reports on the City's <br />legal compliance with certain laws, regulations, contracts, etc., our internal control structure, and <br />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 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 />Following the presentation by Ms. Flanders and Mr. Knopik, staff recommends that the City <br />Council formally, by motion, accept the 2013 Annual Audit Report. <br />RECOMMENDATION <br />Approve a motion accepting the 2013 Annual Audit Report. <br />ATTACHMENTS <br />2013 Comprehensive Annual Financial Report <br />2013 Other Audit Reports <br />
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