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CITY COUNCIL AGENDA ITEM BRIEFING SHEET <br />Submittal Date: Originating Department: Presented By: Agenda Item No.: <br />2-29-2008 <br />Council Date: Finance Gene Anderson 28 <br />3-10-2008 <br />RECOMMENDED MOTION: <br />Move to accept the comprehensive annual financial report for the City of Paris as presented. <br />POLICY ISSUE(S~: <br />Financial oversight of the municipal government. <br />BACKGROUND: <br />Section 35 of the ciry charter charges the council with selectinng a qualified public accountant to conduct an <br />independent audit of the city's financial records. Section 69 (4) of the city charter directs the finance director <br />to prepare a complete financial report as of the end of each fiscal year. The attached report meets the <br />requirements of both of these sections for the fiscal year ending 9-30-2007 in that it represents the finance <br />director's report that has been audited by the accountinng firm selected by the city council. <br />A representative of McClanahan and Holmes, LLP will be available to answer quesrions. <br />BOARD~COMMISSION RECOMMENDATION: <br />N/A <br />EXHIBITS: <br />Exhibit enclosed under separate cover. <br />ACTION: BUDGET INFO: <br />~ Financial Report ~ Minute Order Expense $0 <br />❑ Department Report ❑ Resolution Budgeted Amt. $54,155 <br />❑ Presentation ❑ Ordinance y'I'D Actual $0 <br />❑ Public Hearing ❑ Other Acct. Name Audiring <br />Acct. Number 0605 in various departments <br />FISCAL NOTES: <br />None. <br />REVIEWED AND APPROVED BY: <br />~ Administration ~ City Clerk ❑ Community Development ❑ EMS/IT ~ Finance ❑ Fire <br />❑ Municipal Coutt ❑ Legal ❑ Library ❑ Police ❑ Eng./Public Works ❑ Utilities <br />City of Paris Revised 2104108 <br />