HomeMy WebLinkAbout8.1 AdHocAuditRevComm
CITY CLERK
File # D[IIJ[Q-[3J~
AGENDA STATEMENT
CITY COUNCIL MEETING DATE: November 1, 2005
SUBJECT:
Designation by City Council of an Ad Hoc Audit Review Committee
Report Prepared by: Carole A. Perry. Administrative Services
Director
ATTACHMENTS:
None
RECOMMENDATION: '" 0ppoint two members of the City Council to meet with the City
/ V ¿uditors to review and discuss the report for the period ending June
\. 30,2005.
FINANCIAL STATEMENT:
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 anticipate that by mid-November they
will complete the work required to publish the Comprehensive Annual Financial Report (CAFR) for the
year ending June 30, 2005. In the past, the City Council has established an Ad Hoc Committee to review
the report with thc Auditors.
Staff is requesting that the City Council appoint a two person Audit Committee and determine that this
committee will cease to exist once the City Council accepts the arnlUal audit. Last year the City Council
appointed Council members McCormick and 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
mceting dates and times for the full Committee to meet with the Auditors. At a future Council Meeting,
after the Committee has had an opportunity to review the report and discuss any issues with the Auditors,
Staff will prepare an agenda item for action by the entire City Council regarding the CAFR.
RECOMMENDATION:
At this time, it is recommended that the City Council appoint 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, 2005.
___W__.~P___~~~___~_____________________________________________~_______________._________________________MW_
COpy TO:
ITEM NO.
8.l
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