HomeMy WebLinkAboutCC AG PKT 2007-01-22 #E
e AGENDAREPORT
DATE: January 22, 2006
TO: Honorable Mayor and City Council
THRU: John B. Bahorsk~ City Manager
FROM: Keith A. Evano~ C1MA,CRP,CRRA
Director of Administrative ServicesITreasurer
SUBJECT: June 30, 2006 Comprehensive Annual Financial Report
SUMMARY OF REOUEST:
Staff requests that the City Council receive and file the City of Seal Beach
Comprehensive Annual Financial RepOrt (CAFR) fur the fiscal year ended June 30, 2006.
BACKGROUND:
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The audit firm of Moreland and Associates, Inc has completed the annual audit of the
City of Seal Beach fur the fiscal year ended June 30, 2006. The audit was conducted in
accordance with generally accepted auditing standards and included examining, on a test
basis, evidence supporting the amounts and disclosures to obtain reasonable assurance
that the financial statements are free of material misstatements. In the opinion of the
auditors, the financial statements firirIy present, in all material respects, the financial
position of the City of Seal Beach at June 30, 2006. In addition, there were no findings of
reportable conditions or material weakness in internal control over financial reporting or
instances of non-compliance with certain provisions of laws, regulations, contracts or
grants, which could have a direct and material effect on the determination of financial
statement amounts.
Other annual reports such as the Management Letter to Council (SAS 61), the Investment
Report Agreed-Upon Procedures, the RDA annual financial statements, and the Single
Audit Report were submitted to Council previously under separate cover. Two copies of
each of these reports have been submitted separately fur this agenda in the event
reference is required. The CAFR fur the fiscal year ended June 30, 2005 received the
Certificate of Achievement fur Excellence in Financial Reporting from the Government
Finance Officers Association (GFOA). The CAFR fur the fiscal year ended June 30, 2006
has also been submitted to the Government Finance Officers Association fur award
consideration.
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Agenda Item--€'
e FISCAL IMPACT:
None
RECOMMENDATION:
That the City Council receive and file the Comprehensive Annual Financial Report of the
City of Seal Beach fur the fiscal year ended June 30, 2006.
a::E~
Director of Administrative ServicesITreasurer
J~~
City Manager
Attachments:
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1. Comprehensive Annual Financial Report - FY 2005-06
2. Management Letter (SAS 61 letter to City Council) - submitted previously
3. Agreed-Upon Procedures Applied to Appropriations Limit Worksheets -
submitted previously
4. Investment Report Agreed-Upon Procedures - submitted previously
5. Redevelopment Agency Financial Statements - submitted previously
6. Single Audit Report - submitted previously
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Agenda Item_