10 - Comprehensive Annual Financial Report 2017-18Item No. 10
TO: City Council
John Godwin, City Manager
FROM: Gene Anderson, Finance Director
SUBJECT: INDEPENDENT AUDIT FOR FISCAL YEAR 2017-18
DATE: April 5, 2019
BACKGROUND: Article III Section 35 of the City Charter states that the City Council will
designate certified public accountants to perform an annual independent audit of the City's
financial records.
STATUS OF ISSUE: McClanahan & Holmes, LLP recently completed the audit of the City's
financial records for the fiscal year ending 9-30-2018. There were no adverse findings and the
City was issued an unqualified (clean) opinion that the financial statements present fairly the
City's financial position in accordance with generally accepted accounting principles.
BUDGET: The fee is $60,500 which has been provided for in the current budget.
RECOMMENDATION: Motion to receive the 2017-18 comprehensive annual financial report
audited by McClanahan & Holmes, LLP.