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File #: 2020-157    Version: 1 Name:
Type: Consent Status: Agenda Ready
File created: 3/6/2020 In control: City Council
On agenda: 3/17/2020 Final action:
Title: COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR FISCAL YEAR ENDED JUNE 30, 2019 (CITY COUNCIL)
Attachments: 1. General Fund Budget summary
Date Ver.Action ByActionResultAction DetailsMeeting DetailsVideo
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Report to Mayor and City Council
Tuesday, March 17, 2020
Consent


SUBJECT:
Title
COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR FISCAL YEAR ENDED JUNE 30, 2019 (CITY COUNCIL)

Body
I. SUMMARY

The City's independent financial statement auditor, White Nelson Diehl Evans, has completed the audit for Fiscal Year 2018-2019. The purpose of this report is to provide an overview of the audit and financial results.

II. RECOMMENDATION
Recommendation

RECEIVE and FILE this staff report.


Body
III. ALTERNATIVES

TAKE another action deemed appropriate by City Council.

IV. BACKGROUND

The City retained White Nelson Diehl Evans (WNDE), an independent firm of Certified Public Accountants to perform the financial statement audit for the fiscal year ended June 30, 2019. The auditor has issued a clean opinion. This means the auditor has found the financial statements to be presented fairly, in all material respects, the financial position and activities of the City and its component units.
The Comprehensive Annual Financial Report (CAFR) will be available on the City's website and at City Hall for viewing. Each City Council Member will receive a separate bound copy of the report with the distribution of this agenda.
The General Fund is the primary operating fund of the City. The following is a summary of Fiscal Year 2018-2019 estimates vs. Fiscal Year 2018-2019 actual numbers.





The WNDE Audit Partner, Bob Callanan, will attend the City Council meeting on March 17th to answer any questions from the City Council.
The Auditor indicated that the Auditor encountered no significant difficulties in dealing with management in performing and completing the audit; and that all material misstatements detected during the audit were corrected by management before the financial statements were issued.


V. FISCAL IMPACT

There is no direct fiscal impact associated with the recommendation. However, the General Fund Budget Summary has been updated to reflect the actual beginnin...

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