HomeMy WebLinkAboutItem 14 - cc 7 16 13 2012 Annual Audit1
MAYOR & COUNCIL COMMUNICATION
DATE: 7/16/2013
REGULAR
ITEM #: 14
AGENDA ITEM: 2012 Annual Financial Report & Management Letters Presentation
SUBMITTED BY: Cathy Bendel, Finance Director
THROUGH: Cathy Bendel, Finance Director
REVIEWED BY: Dean Zuleger, City Administrator
Jason Miller, Smith Schafer & Associates
SUGGESTED ORDER OF BUSINESS:
- Introduction of Item ............................................................................ City Staff
- Report/Presentation……………………….City Staff, Smith Schafer & Assoc.
- Questions from Council to Staff……………………………..Mayor Facilitates
- Public Input, if Appropriate………………………………….Mayor Facilitates
- Call for Motion…………………………………………Mayor & City Council
- Discussion………………………………………………Mayor & City Council
- Action on Motion…………………………………………….Mayor Facilitates
SUMMARY AND ACTION REQUESTED: The City has retained the services of Smith,
Schafer & Associates to audit the financial statements for 2012. Enclosed are the 2012 Annual
Financial Audit Report and Management Letters. The City Council is asked to review and
accept the 2012 reports. The recommended motion for this action is as follows:
“Move to Accept the 2012 Year End Annual Financial Report and Management
Letters”
BACKGROUND INFORMATION: Annually, the City engages the services of an
independent outside audit firm to review the financial statements. The accountants are asked to
assure that the financial statements are free of material misstatement to the extent possible. They
also review to ensure that the proper internal controls are in place.
STAFF REPORT: Jason Miller from Smith, Schafer & Associates will present the report and
respond to inquiries.
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RECOMMENDATION: It is recommended that the City Council accept the 2012 Year End
Annual Financial Report and Management Letters.
“Move to Accept the 2012 Year End Annual Financial Report and Management
Letters”
ATTACHMENTS:
1) 2012 Annual Financial Report
2) 2012 Management Letters
• Governance Letter
• Internal Control Matters Letter