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