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EOty1� ,.,�� Request for Action <br /> River <br /> To Item Number <br /> Mayor and City Council 6.2 <br /> Agenda Section Meeting Date Prepared by <br /> Presentations,Awards, June 19, 2017 Lori Ziemer, Finance Director <br /> and Recognition <br /> Item Description Reviewed by <br /> Comprehensive Annual Financial Report for Year T.John Cunningham, Fire Chief <br /> Ended December 31, 2016 Reviewed by <br /> Tina Allard, City Clerk <br /> Action Requested <br /> Accept,by motion, the Comprehensive Annual Financial Report for the City of Elk River for the year <br /> ended December 31, 2016. <br /> Background/Discussion <br /> The city is required to have an annual independent audit of its financial statements in which the audit firm <br /> issues an opinion on the financial statements. For fiscal year 2016, the city contracted with the audit firm <br /> of CliftonLarsonAllen to conduct the city's annual audit. At the conclusion of their audit, the city's <br /> auditors review the Comprehensive Annual Financial Report (CAFR) with the City Council,which was <br /> reviewed at the June 5 work session. <br /> CliftonLarsonAllen has issued an unmodified or"clean" opinion on the city's 2016 financial statement <br /> audit and will present a brief summary of the 2016 Comprehensive Annual Financial Report. <br /> Financial Impact <br /> N/A <br /> Attachments <br /> ■ Comprehensive Annual Financial Report for the year ended December 31, 2016 <br /> ■ Internal Control Letter <br /> ■ Management Letter <br /> ■ Report on Minnesota Legal Compliance <br /> ■ Governance Letter <br /> POWERED 6T <br /> AR <br />