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<br />7A <br />Page 1 <br /> <br /> <br />January 8, 2007 <br /> <br />Subject <br />Fiscal Year 2005/06 Financial Reports <br /> <br />Recommendation <br />On December 11 , 2006 the Audit Committee members met with the FinaJ:lce Director and <br />the City's independent auditors, Caporicci and Larson, to review the general fund financial <br />results for FY 2005/06 and review the Recommendations to Management (Attachment III) <br />prepared by the auditors. <br /> <br />The Audit Committee recommends that the City Council and the Redevelopment Agency <br />Board acknowledge acceptance of the City's Comprehensive Annual Financial Report <br />(Attachment II) and the Redevelopment Agency's Basic Financial Statements (Attachment <br />IV). <br /> <br />...~.. <br />.- <br />.,' <br />"'-. <br /> <br />(~,- . <br /> <br />~".. <br /> <br /> <br />Jeff Ira Jim nett <br />Audit Committee Member/Council Member AUdit Orflrflittee Member/Council Member <br /> <br />Attachments <br />Attachment I - Staff Report Prepared by the Director of Finance <br />Attachment" - Comprehensive Annual Financial Report for Year Ended June 3D, 2006 <br />Attachment '" - Recommendations to Management and Staff Responses <br />Attachment IV - Redevelopment Agency's Basic Financial Statements and Independent <br />Auditor's Report <br />