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Item 5MCity of Southlake, Texas M E M O R A N D U M TO: Shana Yelverton, City Manager FROM: Sharen Elam, Director of Finance Approve the Comprehensive Annual Financial Report for the period ending SUBJECT: September 30, 2005. ___________________________________________________________________________ Action Requested: Approval of September 30, 2005 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 2005. Shawn Parker, Partner, will present the Audit report on Tuesday night. Financial Considerations: None required Citizen Input/ Board Review: None required Legal Review: None required Alternatives: None Supporting Documents: A copy of the Annual Financial Report is included your agenda packet. Staff Recommendation: Approval of September 30, 2005 Comprehensive Annual Financial Report