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REQUEST FOR ACTION <br />__ <br />To __ <br />Item Number <br />Cit<r Council ~.5. <br />Agenda Section Meeting Date Prepared by <br />Administration Tune ~, 2008 Tim Snnon, Fnzance Director <br />Item Description Reviewed by <br />Presentation of Comprehensive Annual Financial Report far the Lori Johnson, CitT Admitustrator <br />Year Ended December 31, 2007 Reviewed by <br />Action Requested <br />City Council is asked to review and accept the Comprehensive Annual [~inancial Report for die City of <br />Elh 12irer for year ended December 31, 2007. <br />Background/Discussion <br />Andrew Berg of Abdo, hack, & Meyers will present a powerpoint presentation of the City's 2007 <br />Comprehensive 1\nnual Financial Report (CAFR) along with staff. "1'he presentation on the CAFR will <br />review the general fund activity, some of the special revenue funds, az2d all of the en[erprise funds. I\-Iuch <br />of this infotmstion is summarized in the City of hall; River 1blanagement Lcttcr. The Fire Relief report <br />will be briefly- discussed as a formal presentation was made at die quartcily board meeting earlier today <br />(tune 2}. The CAFR will be available on the City's website shortly after this Council meeting. <br />"1'hc fr~llowing are Borne highlighted areas of rbc CAFR and corresponding page numbers. <br />Transtnitral letter -page 1 <br />Independent Auditor's report -page 8 <br />flanagement's Discussion and iynalvsis -page 10 <br />Budget and Act~ral (General Fund) -page 28 <br />E.ntnrprisc Ftmds -page 30 <br />SL<~usdcal Section -page '8 <br />Financial Impact <br />None <br />Attachments <br />The following items have been dlsttibuted to the Vlayor and Co~mcil <br />• 2007 Audit Powerpoint Presentation <br />• Comprehensive Amiual Financial Report for the year ended December 31, 2007 <br />• Report On_Vlinnesota Legal Compliance <br />• City of Elk River l~lanagcment Letter <br />• N~lk River Fire Department Relief Association Financial Statements and Supplementary <br />Information <br />• Rlk 12iver Fire Relief Dlanagcmcnt Letter <br />