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7.1.A. - Page 1 <br /> REPORT <br /> To the Honorable Mayor and City Council <br /> From Audit Committee <br /> January 12, 2015 <br /> SUBJECT <br /> Fiscal Year 2013 -14 Financial Report of the City of Redwood City <br /> RECOMMENDATION <br /> Accept, by motion, the City's FY 2013 -14 Comprehensive Annual Financial Report. <br /> BACKGROUND <br /> On December 1, 2014 an Audit Committee meeting was held with the Finance staff and <br /> the City's independent auditors, Badawi & Associates, to review the general fund <br /> financial results for FY 2013 -14 and the results of the audit. <br /> ANALYSIS <br /> The Audit Committee reviewed and is recommending that the City Council acknowledge <br /> acceptance of the City's Comprehensive Annual Financial Report which is attached to <br /> the accompanying staff report. <br /> ALTERNATIVES <br /> Not applicable. <br /> FISCAL IMPACT <br /> Not applicable. <br /> ENVIRONMENTAL REVIEW <br /> This activity is not a project under CEQA as defined in CEQA Guidelines, section <br /> 15378, because it has no potential for resulting in either a direct or foreseeable physical <br /> change in the environment. <br /> ,4- (1 � 4111111 + � <br /> Ian Bain Diane Howard <br /> Audit Committee Chair /Council Member Audit Committee /Council Member <br /> ATTACHMENTS <br /> 1. Staff Report prepared by the Interim Finance Director <br /> 2. Comprehensive Annual Financial Report June 30, 2014 <br /> 3. Single Audit Report <br />