Agenda - Council Work Session - 06/10/2025

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CC Work Session Meeting Date: Primary Strategic Plan Initiative: 2. 3. 06/10/2025 Identify and implement operational efficiencies, cost savings and additional funding sources. Information Title: Review 2024 Annual Comprehensive Financial Report, Management Report & Special Purpose Report Purpose/Background: The City's 2024 annual report has been completed. Aaron Nielsen from the auditing firm of LB Carlson (acquired MMKR) will be present to review the 2024 Annual Comprehensive Financial Report and Management Report that provides auditor's comments on audit process and the Special Purpose Audit Reports on internal controls and legal compliance. Mr. Nielsen will also be making a brief presentation of the audit report at the regularly scheduled council meeting. The receipt of the 2024 Annual Comprehensive Financial Report and the request for submittal of the Annual Comprehensive Financial Report to the Governmental Finance Officers Association for the Certificate of Achievement in Financial Reporting has been placed on the Consent Agenda of tonight's meeting. Time Frame/Observations/Alternatives: 20 to 30 minutes. This item needs to be started no later than 6:30 P.M. Funding Source: Auditing services are funded under the finance department's budget. Recommendation: Presentation of the summarization of the Annual Comprehensive Report, Management Report and Special Purpose Report. Outcome/Action: Presentation of the summarization of the Annual Comprehensive Report, Management Report and Special Purpose Report. 2024 Annual Comprehensive Financial Report 2024 Management Report 2024 Special Purpose Reports Attachments Form Review lnbox Reviewed By Date Brian Hagen Brian Hagen 06/05/2025 11:19 AM Form Started By: Diana Lund Started On: 05/30/2025 09:10 AM Final Approval Date: 06/05/2025