HomeMy WebLinkAbout2017-02-15 17-080 ORDERCOUNCIL ACTION Item No. 17-080 Date: 2-13-17 Item/Subject: ORDER, Accepting the City of Bangor's Comprehensive Annual Financial Report for the Year Ended June 30, 2016 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 nineteen 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 6, 2017. 0 Department Head Manager's Comments: Associated Information: Order Budget Approval: Legal Approval: Introduced for X Passage -Consent First Reading Referral City Manager iskcl_4 - Mance Director Page _of_ ity So itor 17-080 FEBRUARY 13, 2017 Assigned to Councilor Sprague i � ={ CITY OF BANGOR �R47ED,fF' r (TITLE.) Order, Accepting the City of Bangor's Comprehensive Annual Financial Report for the Year Ended June 30, 2016 By tyre city Council of the City 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, 2016 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 15, 2017 CO 17-080 PASSED CITY CLERK