HomeMy WebLinkAbout14 Financial Report 2010Agenda Item # 14
ACTION
To: Board of Directors
From: Robert Mescher
Date: June 01, 2011
Subject: Consideration of the Draft Audited Financial Report for 2010
1. WHY THIS MATTER IS BEFORE THE BOARD
The District is required to have its financial records audited each year. As the Board is
responsible for hiring auditors, the auditors present their findings directly to the Board.
2. HISTORY
In August 2008, the Board extended the contract with the accounting firm, Baker/Tilly,
to perform the District's audits for 2008 through 2010.
3. NEW INFORMATION
The 2010 audit is now complete and ready to be presented to the Board of Directors.
Jodi Dobson will present the audit results to the Board which includes the drafts of the
Consolidated Financial Statements and the Primary Government Only Financial
Statements for the years ended December 31, 2010 and 2009. Ms. Dobson will
discuss management letter which includes recommendations.
Attached are copies of the draft audited statements, the management letter, and the
audit representation letter that will be signed by the General Manager and myself.
4. FISCAL IMPACT
This is a report of the financial activity for 2010 and 2009. There is no fiscal impact.
5. RECOMMENDATION
Adopt the draft Audited Financial Reports for 2010 and 2009.
�.. -
Robert Mescher Michael D. Holley
Acting Administrative Services Manager General Manager