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