Item 4JM E M O R A N D U M
TO: Shana Yelverton, City Manager
FROM: Sharen Jackson, Director of Finance
SUBJECT:Approval of the 2007 Comprehensive Annual Financial Report
___________________________________________________________________________
Action Requested:
Approval of September 30, 2007 Comprehensive Annual Financial Report.
Background
Information:
City Charter requires the City at the close of each fiscal year have an
independent audit performed by a Certified Public Accountant. Weaver and
Tidwell L.L.P., Certified Public Accountants, performed the audit for fiscal
year 2007. Shawn Parker, Partner, will present the report to the audit
committee on Tuesday during the committee meeting scheduled at 3:30 prior
to the city council meeting.
If you recall, the City changed software packages on October 1, 2007. The
completion of the audit was delayed due to issues related to data conversion
from the old financial system.
Financial
Considerations:
None required
Citizen Input/
Board Review:
None required
Legal Review:
None required
Alternatives:
None
Supporting
Documents:
A hard copy of the Annual Financial Report is included with the agenda
packet.
Staff
Recommendation:
Approval of September 30, 2007 Comprehensive Annual Financial Report