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Department Approval <br />Item Description: <br />�:i � <br />� <br />REQUEST FOR COUNCIL ACTION <br />Date: OS/11/15 <br />Item No.: l l .a <br />City Manager Approval <br />Receive the 2014 Audit Report and Financial Statements <br />BACKGROUND <br />State Statute requires an annual presentation of the City's year-end financial report by an independent <br />auditor. The purpose is to provide a forum for which an independent report can be made directly to <br />elected officials with regard to the City's financial operations. A copy of the 2014 Annual Financial <br />Report along with other various reports will be distributed at the meeting. <br />Matt Mayer, from the firm of Kern, DeWenter, Viere (KDV) will be present to provide an overview of <br />� the Annual Report, as well as the audit process and any required disclosures or findings. <br />Staff will be available for any follow-up questions if necessary. <br />POLICY OBJECTIVE <br />The presentation of the annual report is required by State Statute. <br />FINANCIAL IMPACTS <br />Not applicable. <br />STAFF RECOMMENDATION <br />Staff recommends the Council formally accept the 2014 Audit Report and Financial Statements. <br />REQUESTED COUNCIL ACTION <br />Motion to accept the 2014 Annual Financial Report. <br />Prepared by: Jason Schirmacher, Assistant Finance Director <br />Attachments: A: 2014 Annual Financial Report & Auditor Reports will be distributed at the Council meeting. <br />Page 1 of 1 <br />