HomeMy WebLinkAbout19-Consideration of the Draft Audited Financial Report for 2011TT
RUC EE DONNER
ublic UtilityDistrict
ACTION
To:
Board of Directors
From:
Robert Mescher
Date:
June 06, 2012
Subject: Consideration of the Draft Audited Financial Report for 2011
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 October 2011, the Board awarded a contract with the accounting firm, Moss -Adams,
to perform the District's audit for 2011.
3. NEW INFORMATION
The 2011 audit is now complete and unqualified. Julie Desimone, a partner of Moss -
Adams, 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 year ended December 31, 2011. Ms. Desimone will discuss the
management letter which includes recommendations.
Attached are drafts of the audited financial statements and the management letter.
4. FISCAL IMPACT
This is a report of the financial activity for 2011. There is no fiscal impact.
5. RECOMMENDATION
Accept the Audited Financial Reports for 2011.
Robert Mescher
Administrative Services Manager
Michael D. Holley
General Manager