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memo�andum <br />To: c�Ty coun��l <br />John Godwin, City Manager <br />FROM: Gene Anderson, Finance Director <br />SUBJECT: COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR 2011-12 <br />DATE: April 9, 2013 <br />BACKGROIJND: Section 35 of the City Charter charges the City Council with selecting a <br />qualified public accountant to conduct an independent audit of the City's financial records <br />annually. Section 69(4) of the City Charter directs the finance directar to prepare a complete <br />financial report as of the end of each fiscal year. The report included in your packet meets the <br />requirements of both of these Charter sections for the fiscal year ending 9-30-12 in that it <br />represents the finance director's report that has been audited by the accounting firm selected by <br />the City Council. <br />STATUS OF ISSUE: This report has been completed and a representative from McClanahan & <br />Holmes, LLP will make a brief statement and answer any questions you may have. <br />BUDGET: Not affected by this report. <br />RECOMMENDATION: Motion to receive the annual financial report. <br />C.ZI <br />• <br />