08 - INDEPENDENT AUDIT FOR FISCAL YEAR 2014-15Item No. 8
Memorandum
TO: City Council
John Godwin, City Manager
FROM: Gene Anderson, Finance Director
SUBJECT: INDEPENDENT AUDIT FOR FISCAL YEAR 2014 -15
DATE: May 10, 2016
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 -2015. There were no adverse findings and the
City was issued an unmodified opinion that the financial statements present fairly the City's
financial position in accordance with generally accepted accounting principles.
BUDGET: The estimated fee is $57,000 which has been provided for in the current budget.
RECOMMENDATION: Motion to receive the 2014 -15 comprehensive annual financial report
audited by McClanahan & Holmes, LLP.