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Request for Action <br />To <br />Item Number <br />Mayor and City Council <br />6.1 <br />Agenda Section <br />Meeting Date <br />Prepared by <br />Presentations, Awards, and <br />June 7, 2021 <br />Lori Ziemer, Finance Director <br />Recognition <br />Item Description <br />Reviewed by <br />Comprehensive Annual Financial Report for the <br />Cal Portner, City Administrator <br />Year Ended December 31, 2020 <br />Reviewed by <br />Action Requested <br />Accept, by motion, the Comprehensive Annual Financial Report for the City of Elk River for the year ended <br />December 31, 2020. <br />Background/Discussion <br />The city is required to have an annual independent audit of its financial statements in which the audit firm issues an <br />opinion on the city's financial statements. For the year 2020, a single audit, which is triggered by the spending of <br />$750,000 or more in federal grant funds, was also required for federal compliance of the CARES Act grant. <br />CliftonLarsonAllen (CLA) conducted the city's audit for the year 2020 and will present a summary of the 2020 <br />Comprehensive Annual Financial Report and audit results. <br />Financial Impact <br />N/A <br />Mission/Policy/Goal <br />N/A <br />Attachments <br />■ CLA Audit Presentation <br />■ Comprehensive Annual Financial Report for the year ended December 31, 2020 <br />■ Governance Communication Letter <br />■ Single Audit Report <br />The Elk River Vision <br />A welcoming community with revolutionary and spirited resourcefulness, exceptional <br />service, and community engagement that encourages and inspires pi ospei ly. <br />M <br />TUREJ <br />Updated.• August 2020 <br />