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CM OF REQUEST FOR COUNCIL CONSIDERATION Agenda Section a B_ <br /> STAFF REPORT Report Number: 46-1 7 f h c <br /> OUNDS QnS'' Report Date: 5/8/96 <br /> 410 -.‘z CITY COUNCIL MEETING DATE <br /> 01111,, <br /> May 13, 1996 Special Order of Bus. <br /> i, Consent Agenda <br /> $ n'Partne0heS .� <br /> Public Hearings <br /> Council Business <br /> Item Description: Consideration of staff request to have auditors prepare the financial statements contained in <br /> the"Comprehensive Annual Financial Report" for the year ended December 31, 1995 <br /> Administrator's Review/Recommendation: <br /> -No Comments to supplement this report kt1 <br /> -Comments attached. <br /> Explanation/Summary(attach supplement sheets as necessary) <br /> Summary: <br /> The auditors have once again offered to prepare the financial statements needed for the annual financial <br /> report. Staff has often chosen to have the Finance Director and City Accountant participate in the preparation <br /> of the financial statements because it offered a good learning tool for better understanding of the financial <br /> statements. This year staff does not have the personnel to complete the work on a timely schedule. The <br /> auditors believe they can prepare all financial statements and stay within the quoted audit costs. If any <br /> unforeseen complications should arise the auditors have guaranteed a cap of an additional $2,000.00. <br /> 0 _ <br /> -- -2:,-,-,,i_. . <br /> Mary E. T arek, Interim Finance Coordinator <br /> RECOMMENDATION: Staff believes this offer should be accepted. <br />