City’s audit report on Jan. 5 agenda
The City Commission will consider accepting the Comprehensive Annual Financial Report for fiscal year 2019-2020 and associated documents.
The city’s audit committee, which includes one commissioner, the mayor, two citizens, city manager and the finance director, met Dec. 9.
The CAFR document is a 200-plus page bound document and is available in the Finance Department at the Civic
Center or on the city website here.
They’d received a copy of the CAFR, the draft independent auditor’s report and a brief summary of the audit for review prior to the meeting.
The city’s auditor is Anderson ZurMuehlen and Co. and it’s the second year of a three-year audit contract.
The contract was awarded at the March 5, 2019 meeting.
It’s the fifth year AZ has audited the city.
In the required client communication letter, which comments on any internal control recommendations related to the operations of the city that would adversely affects its ability to record, process, summarize and report financial data, the auditors had no current year recommendation and one prior recommendation, according to the staff report.
If the CAFR is not ratified, the city will withdraw the required reports and won’t meet end of year deadlines, as required by state statute and bond covenants.
The city audit committee approved the CAFR and associated documents, with the stipulation that it be contacted if there are any changes made due to the Office of Management and Budget circular regarding the CARES Act, according to the staff report.
At the time of the audit committee meeting, the CAFR was not finalized since final information hadn’t been issued from the federal government on CARES Act funds.
Final versions of all reports have now been sent to the Audit Committee.
The CAFR was submitted to the Government Finance Officers Association’s Certificate of Achievement Program for review. The prior year’s CAFR was submitted and subsequently awarded the Certificate of Achievement for Excellence in Financial Reporting, an award the city has received annually since 1993.