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REQUEST FOR COUNCIL ACTION <br /> Date: 04/23/11 <br /> Item No.: 10.a <br />Department Approval City Manager Approval <br />Item Description: Accept 2011 Audit Report and Financial Statements <br />B <br />ACKGROUND <br />1 <br />State Statute requires an annual presentation of the City’s year-end financial report by an independent <br />2 <br />auditor. The purpose is to provide a forum for which an independent report can be made directly to elected <br />3 <br />officials with regard to the City’s financial operations. A copy of the 2011 Annual Financial Report along <br />4 <br />with other various reports will be distributed at the meeting. <br />5 <br />6 <br />Matt Mayer, from the firm of Kern, DeWenter, Viere (KDV) will be present to provide an overview of the <br />7 <br />Annual Report, as well as the audit process and any required disclosures. <br />8 <br />9 <br />Staff will be available for any follow-up questions if necessary. <br />10 <br />PO <br />OLICYBJECTIVE <br />11 <br />The presentation of the annual report is required by State Statute. <br />12 <br />FI <br />INANCIALMPACTS <br />13 <br />Not applicable. <br />14 <br />SR <br />TAFF ECOMMENDATION <br />15 <br />Staff recommends the Council formally accept the 2011 Audit Report and Financial Statements. <br />16 <br />RCA <br />EQUESTEDOUNCILCTION <br />17 <br />Motion to accept the 2011 Annual Financial Report. <br />18 <br />19 <br />Prepared by: Chris Miller, Finance Director <br />Attachments: A: None <br />20 <br />Page 1 of 1 <br /> <br />