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<br />~ <br />rt\~HILLS <br /> <br />MEMORANDUM <br /> <br />. <br /> <br />DATE: <br /> <br />May 19, 2004 <br /> <br />Agenda Item 3.B. <br /> <br />TO: Honorable Mayor and City Council <br /> <br />FROM: Murtuza Siddiqui, Finance Director/Treasurer "'W)~ <br /> <br />SUBJECT: City of Arden Hills - 2003 Audited Financial Statements <br /> <br />BACKGROUND: <br /> <br />Enclosed for the Council's review and consideration is the City's Draft 2003 Audited Financial <br />Statements and Management Letter. Upon the review and acceptance ofthe audit by the <br />Council, "draft" will be removed. . <br /> <br />DISCUSSION: <br /> <br />At the May 17,2004 Council's Work Session, Steve McDonald from Abdo, Abdo, Eick and <br />Meyer presented the 2003 Audit and provided a summary and overview of the City's financial <br />condition, including a brief analysis. <br /> <br />RECOMMENDED ACTION: <br /> <br />Staff recommends approval and acceptance ofthe 2003 Audited Financial Statements as <br />presented by the auditors. <br /> <br />. <br />