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Department Approval <br />e,4 7"e. A",Y4 <br />Rskspac+Ey <br />REQUEST FOR COUNCIL ACTION <br />Date: 05/18/09 <br />Item No.: 10.b <br />City Manager Approval <br />Item Description: 2008 Financial Statement Presentation <br />1 BACKGROUND <br />2 State Statute requires an annual presentation of the City's year -end financial report by an independent <br />3 auditor. The purpose is to provide a forum for which an independent report can be made directly to elected <br />4 officials with regard to the City's financial operations. A copy of the 2008 Annual Financial Report will be <br />5 distributed at the meeting. <br />6 <br />7 Jim Eichten, from the firm of Malloy, Montague, Karnowski, and Radosevich, and Company, P.A., will be <br />8 present to provide an overview of the Annual Report, as well as the audit process and any required <br />9 disclosures. <br />10 <br />11 Staff will be available for any follow -up questions if necessary. <br />12 POLICY OBJECTIVE <br />13 The presentation of the annual report is required by State Statute. <br />14 <br />15 <br />16 <br />17 <br />18 <br />19 <br />20 <br />04 <br />FINANCIAL IMPACTS <br />Not applicable <br />STAFF RECOMMENDATION <br />Staff recommends the Council formally accept the 2008 Annual Financial Report <br />REQUESTED COUNCIL ACTION <br />Motion to accept the 2008 Annual Financial Report <br />Prepared by: Chris Miller, Finance Director <br />Attachments: A: None <br />B: <br />Page 1 of 1 <br />