5.2. SR 06-06-2011 - Laserfiche WebLink

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Ells REQUEST FOR ACTION River 1'o Item Number Ci Council 5.2 Agenda Section Meeting Date Prepared by Administration une 6, 2011 Tim Simon, Finance Director Item Description Reviewed by Presentation of the Comprehensive Annual Financial Report and Audit Results for the Year Ended December 31, 2010 Reviewed by Action Requested The City Council is asked to review and accept the Comprehensive Annual Financial Report for the City of Elk River for the year ended December 31, 2010. Background/Discussion Andrew Berg, Governmental Services Partner with Abdo, Eick, & Meyers will present a Powerpoint presentation of the City's 2010 Comprehensive Annual Financial Report (CAFR) and audit results. The presentation on the CAFR will review the general fund activity, some of the special revenue funds, and all the enterprise funds. Much of this information is summarized in the Ciry of Elk River Management Letter. The Fire Relief report will be briefly discussed as a formal presentation was made at the quarterly board meeting on June 1. The CAFR will be available on the City's website shortly after this Council meeting. The following are some highlighted areas of the CAFR and corresponding page numbers. Transmittal letter -page 1-4 Independent Auditor's report -page 8-9 Management's Discussion and Analysis -page 10-19 Budget and Actual (General Fund) -page 27 Enterprise Funds -page 28-35 Statistical Section -page 90-119 Financial Impact None Attachments The following items have been distributed to the Mayor and Council • Comprehensive Annual Financial Report for the year ended December 31, 2010 • City of Elk River Management Letter • Other Required Reports (Legal compliance) • Elk River Fire Department Relief Association Financial Statements and Supplementary Information • Elk River Fire Relief Management Letter