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<br /> <br /> <br />Item 6.1 . <br /> <br />MEMORANDUM <br /> <br />TO: Mayor and City Council <br /> <br />FROM: Lori Johnson, Finance and Administrative Services Director <br /> <br />DATE: June 6, 2005 <br /> <br />SUBJECT: Presentation of City of Elk River's Comprehensive Annual <br />Financial Report for the Period Ended December 31, 2004 <br /> <br />Steve McDonald of Abdo, Eick, and Meyers and I will be present on Monday night to <br />present the city's 2004 Comprehensive Annual Financial Report (CAFR). We will highlight <br />the financial status of the general fund, active special revenue funds (such as park dedication, <br />Library, Ice Arena) and the enterprise funds in detail and briefly overview the remaining <br />funds (such as the debt service and capital projects funds.) We will highlight the areas we <br />believe are of interest to the Council and will be open to any questions the Council may have <br />on any other part of the Report. In addition we will give an overview of the 2004 Fire Relief <br />audit. <br /> <br />In reviewing the CAFR, summary information may be found in the transmittal letter starting <br />on page 1 and management's discussion and analysis, which begins on page 10. Because <br />both of those provide a considerable amount of easy to understand summary and detail <br />information, it is not being repeated in this memo. Detailed revenue and expenditure <br />information on the general fund may be found on page 24 and enterprise fund information <br />can be found on pages 25-32. Detailed information on the special revenue funds begins on <br />page 54. Information on capital projects funds begins on page 68. However for reporting <br />purposes, many of the funds are combined so the detailed information is not available in this <br />Report. <br /> <br />The fmal section of the CAFR is the statistic section which begins on page 71. There are <br />several new statistical tables included this year and changes have been made to the format <br />and content of some of the tables previously included. This section gives ten year historical <br />information on financial trends, demographic and economic information, operating <br />statistics, and other information. <br /> <br />Action Requested <br />The Council is asked to accept the 2004 CAFR. <br /> <br />S:\Council\Lori\2005\2004 CAFR Revised.doc <br />