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I <br /> I <br />I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br />I <br />I <br /> I <br /> <br />CASE# <br /> <br />RECEIVE AND REVIEW THE 1995 COMPREHENSIVE ANNUAL FINANCIAL REPORT <br />(CAFR) <br />[THIS REPORT IS INCLUDED WITH THE AGENDA AS A SEPARATE ITEM] <br /> By: Jessie Hart, Finance Officer <br /> <br />Background: <br /> <br />The City of Ramsey is required to undergo a certified audit, on an annual basis, of all of its funds and <br />account groups. This audit is performed by the firm of Malloy, Montague, Karnowski, Radosevich and <br />Company, P.A. Tile preparation of the Comprehensive Annual Financial Report (CAFR) is done by the <br />Finance Department. <br /> <br />While the attached copy of the report is still not in final format, the changes that will be made prior to <br />submission to the State of Minnesota will be the addition of covers, tab dividers and appropriate letter <br />head where required. A final copy will be distributed to each Councilmember upon request. <br /> <br />The report, as it appears this year, is similar in appearance to last years report, with some changes and <br />improvements, incorporated into the CAFR for 1995, are changes that are consistent with <br />recommendations ~from the reveiw for the "Certificate of Achievement for Excellence in Financial <br />Reporting" (Certificate). I believe that this report is again a good candidate for receiving the Certificate <br />and it is intended that we submit the I995 CAFR for review and consideration. <br /> <br />At tonight's meeting, ! will review the transmittal letter, all of the auditor's opinions on the report, as <br />well as those included in conjunction with legal compliance and single audit issues. I will also review <br />any of the information that is requested by individual members of the Committee. <br /> <br />The auditors, as a part of their work, prepare a Management Report for the City. This report will be <br />presented and reviewed at the June 25, 1996, Finance Committee meeting by a representative of the firm <br />of Malloy, Montague, Kamowski, Radosevich and Company, P.A. <br /> <br />Committee Action: <br /> <br />Accept 1995 Comprehensive Annual Financial Report and authorize the Finance Officer to submit it to <br />the State of Mirmesota Department of Revenue and other agencies as required and to submit the report <br />with application for the Certificate to the Government Finance Officers Association of the United States <br />and Canada. <br /> <br />Reviewed by: <br />Finance Officer <br /> <br />Copies Distributed to: <br />City Administrator <br />Police Chief <br />City Engineer <br />Administrative Services Manager <br /> <br />CC: 06/11/96 <br /> <br /> <br />