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HomeMy WebLinkAbout2014-03-10 14-109 ORDERCOUNCIL ACTION Item No. 14-109 Date: 3-10-14 Item/Subject: ORDER, Accepting the City of Bangor's Comprehensive Annual Financial Report for the Year Ended June 30, 2013 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 sixteen 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 3, 2014. Manager's Comments: Associated Information: Order Budget Approval: Legal Approval: Introduced for X Passage - Consent First Reading Referral Department Head (iLL ryN, City Manager mance Director Page _of_ Ch Solicitor 14-109 MARCH 109 2014 Assigned to Councilor Gallant ,h�1pf BANC - '_�' � CITY OF BANGOR (TITLE.) Order, Accepting the City of Bangor's Comprehensive Annual Financial Report for the Year Ended June 30, 2013 By the OW Couna/ 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, 2013 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 March `10, 2014 P s 0 CITY CLtRK