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HomeMy WebLinkAbout2016-04-25 16-156 ORDERCOUNCIL ACTION Item No. 16-156 Date: 4-25-16 Item/Subject: ORDER, Accepting the City of Bangor's Comprehensive Annual Financial Report for the Year Ended June 30, 2015 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 eighteen 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 March 7, 2016. DepaoAient Head Manager's Comments: C- City ManaigesIr Associated Information: Order Budget Approval: Finance Director Legal Approval: 42��2 City olicitor Introduced for X Passage -Consent First Reading Page _ of _ Referral 16-156 APRIL 25, 2016 L Assigned to Councilor Durgin CITY OF BANGOR (TITLE.) Order, Accepting the City of Bangor's Comprehensive Annual Financial Report for the Year Ended June 30, 2015 By the City Council oftlie City of Bangor. ORDERED, that the City of Bangor's Comprehensive Annual Financial Report, including its General Purpose Financial Statements for the year ended .lune 30, 2015 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 APRIL 25, 2016 PASSED CITY CLEFUC