Laserfiche WebLink
<br />e <br /> <br />. <br /> <br />. <br /> <br />~ <br />~HILLS <br /> <br />MEMORANDUM <br /> <br />DATE: <br /> <br />May II, 2005 <br /> <br />Agenda Item: 2.A <br /> <br />TO: Honorable Mayor and City Council <br /> <br />FROM: Murtuza Siddiqui, Finance Director/Treasurer .""'S <br /> <br />SUBJECT: 2004 Audited Financial Statements <br /> <br />BACKGROUND: <br />The City of Arden Hills, each year, hires an independent audit firm to audit the City's financial <br />records and issue the financial statements. The City hired Abdo, Eick, & Meyers to conduct this <br />audit. They have been the City's auditors for the past few years. <br /> <br />DISCUSSION: <br />I am pleased to inform that the City of Arden Hills has implemented new GASB 34 rule for the <br />December 31, 2004 statements. The main change resulting frorn the implementation was issuing <br />financial statements under a new reporting model. <br /> <br />Steve McDonald, Abdo, Eick, & Meyers will be at the Work Session to present the audit as well <br />as explain the key features ofthe changes that resulted from the implementation ofGASB 34 <br />rule. <br /> <br />RECOMMENDED ACTION: <br />Presented for informational and discussion purposes. Council is scheduled to take a formal <br />action at the next scheduled City Council meeting. <br />