HomeMy WebLinkAbout8.4 Ad Hoc Audit Designation
CITY CLERK
File # D[][][ll]-~~
AGENDA STATEMENT
CITY COUNCIL MEETING DATE: November 6, 2007
SUBJECT:
Designation by City Council of an Ad Hoc Audit Review Committee
Report Prepared by: Paul S. Rankin, Administrative Services Director Vet/-
ATTACHMENTS:
None.
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FINANCIAL STATEMENT:
Appoint two members of the City Council to meet with the City
Auditors to review and discuss the report for the period ending June
30, 2007.
Designation of a Committee has no financial impact. The complete
Audit and Financial Report will be presented to the full City Council
at a future meeting.
DESCRIPTION:
The independent auditors from the firm of Caporicci and Larson recently finished field work to allow for
completion of the Comprehensive Annual Financial Report (CAFR) for the year ending June 30, 2007. In
the past, the City Council has established an Ad Hoc Committee to review the report with the Auditors.
Last year Council appointed Vice Mayor Hildenbrand and Councilmember Oravetz to serve on the Ad
Hoc Audit Review Committee. Once the Committee is designated and all the audit work is concluded,
Staff will coordinate potential meeting dates and times for the full Committee to meet with the Auditors.
Due to some new Audit requirements Staff does not expect that a meeting would be scheduled until
probably early December. At a future Council Meeting, after the Committee has had an opportunity to
review and discuss the report with the Auditors, Staff will prepare an agenda item for action by the entire
City Council.
RECOMMENDATION:
At this time, it is recommended that the City Council designate two members that will serve for a limited
time on the Ad Hoc Committee and will meet with the City Auditors to review and discuss the audit
report for the period ending June 30, 2007.
COPY TO:
Page 1 of 1
ITEM NO.
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G:\Audit\FY 06-07 Annual AUdit\Agenda Stmts\Ad Hoc Audit Committee - ag stmt(2007).DOC