Laserfiche WebLink
<br />~ <br /> <br />CITY COUNCIL WORK SESSION <br />Topic Report: Receipt of 2006 <br />Comprehensive Annual Financial Report <br />(CAFR) <br />Rv~ Dhln::J T .1lncl Fimlnc.p Offic.pr <br /> <br /> <br />Background: <br /> <br />Each year the City is required to have an audit ofthe City's financial records by an <br />independent auditing firm. After the audit is complete, the Comprehensive Annual <br />Financial Report (CAFR) is prepared to report the overall financial position of the City. <br />It is this report that bond rating firms such as Moody's use in the determination of our <br />bond rating when the City is issuing new debt. <br /> <br />Ken Malloy from the auditing firm of Malloy, Montague, Kamowski and Radosevich <br />(MMKR) will be making the audit presentation. He will go over the Management Report <br />(A copy is included in your packet, please bring) which is a brief summary of the CAFR <br />and information relevant to city finances in Minnesota. <br /> <br />Action Statement: <br /> <br />Presentation only. Acceptance ofCAFR has been added as a consent item in the 6/26/07 <br />Council meeting. <br /> <br />CCWS: 6/26/07 <br />