8.1. SR 06-04-2012 - Laserfiche WebLink

Home Browse Search

City REQUEST FOR ACTION River To Item Number Mayor and City Council 8.1 Agenda Section Meeting Date Prepared by General Business June 4, 2012 Tim Simon, Finance Director Item Description Reviewed by Presentation of the Comprehensive Annual Financial Report Cal Portner, City Administrator Reviewed by and Audit Results for the Year Ended December 31, 2011 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, 2011. Background /Discussion Andrew Berg, Governmental Services Partner with Abdo, Eick, & Meyers, will present a powerpoint presentation of the city's 2011 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 City 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 May 30. The CAFR will be available on the city's website shortly after this Council meeting. I would like to thank the finance staff for all the hard work on preparing for the audit and preparation of the financial statements. 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 Attachments • Comprehensive Annual Financial Report for the year ended December 31, 2011 • 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 Action Motion by Second by Vote p 0 W I R E 0 B i AURd