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Item No. 9 <br />TO: Mayor, Mayor Pro -Tem, and City Council <br />Grayson Path, City Manager <br />FROM: Gene Anderson, Finance Director <br />SUBJECT: 2019-20 CONSOLIDATED ANNUAL FINANCIAL REPORT <br />BACKGROUND: Section 35 of the Paris City Charter requires the City to have an independent <br />annual financial audit. <br />STATUS OF ISSUE: The report provided to you from McClanahan & Holmes, LLC satisfies the <br />Section 35 requirement. The report now completed is being provided to you as the governing body. <br />The City received the desired unmodified opinion from the auditors which reads as follows: <br />"In our opinion, the financial statements referred to above present fairly, in all material respects, <br />the respective financial position of the governmental activities, the business -type activities, the <br />discretely presented component unit, each major fund, and the aggregate remaining fund <br />information of the City of Paris, Texas, as of September 30, 2020, and the respective changes in <br />financial position and, where applicable, cash flows thereof, and the respective budgetary <br />III IIP <br />1 111"111:1vor <br />I <br />