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HomeMy WebLinkAbout2013-02-25 13-088 ORDERCOUNCIL ACTION Item No. 13-088 Date: 2-25-12 Item/Subject: ORDER, Accepting the City of Bangor's Comprehensive Annual Financial Report for the Year Ended June 30, 2012 Responsible Department: Finance Commentary: The attached Order accepts the City's Comprehensive Annual Financial Report (CAFR) including its General Purpose Financial Statements and the Independent Auditor's unqualified opinion as prepared by Runyon Kersteen Ouellette of South Portland, Maine. In accordance with State law, the City prepares this annual financial statement through an independent audit firm. Based upon the audit findings, the City received an unqualified opinion that the financial statements are fairly stated in all material respects. Additionally, no material weaknesses have been identified related to the City's internal controls. For the past fifteen years, the City has been awarded the Government Finance Officers Associations (GFOA) Certificate of Achievement for Excellence in Financial Reporting. As such, this CAFR has been submitted to GFOA for their consideration. At this time staff and the Manager recommend approval. The Finance Committee met with the City's auditors and reviewed the various reports on February 20tH epartment Head Manager's Comments: C � c,Cv City Manager Associated Information: Order Budget Approval: Finance Director Legal Approval: City Solicitor Introduced for X Passage First Reading Page _ of _ Referral 13-088 FEBRUARY 25, 2013 Assigned to Councilor Blanchette CITY OF BANGOR *4 11 FF' r (TITLE.) Order, Accepting the City of Bangor's Comprehensive Annual Financial Report for the Year Ended June 30, 2012 By the OW Council of the OW of Bangor: ORDERED, that the City of Bangor's Comprehensive Annual Financial Report, including its General Purpose Financial Statements for the year ended June 30, 2012 as prepared by City Finance staff and the Independent Auditor's Report thereon, prepared by Runyon Kersteen Ouellette, is hereby accepted in its entirety. IN CITY COUNCIL February 25, 2013 Passed j