HomeMy WebLinkAbout[05] 2012 Audit
5
Council Agenda Item
MEETING DATE:
May 16, 2013
AGENDA ITEM:
2012 Audit Presentation – Janel Bitzan
SUBMITTED BY:
Finance
PREVIOUS COUNCIL ACTION:
None
Annually the City is required to have an independent audit
BACKGROUND INFORMATION:
completed. The final audited statements are presented to the City Council and submitted to the State of
Minnesota. Janel Bitzan from Kern, DeWenter, Viere (KDV) will be here to provide an overview of the
audit and financial status as of December 31, 2012. Janel is the assigned manager from KDV for the
City’s audit.
The audited financial statements can be cumbersome to read. Although the entire report is important
for the users of the statements, the Management Discussion and Analysis (MD&A) on pages 5-22
provide a nice overview of the financial highlights for 2012 and the economic factors that will affect the
upcoming years. City staff prepared the MD&A analysis. The report provided titled “Communications
Letter” is an analysis of the financial condition of the City by KDV.
BUDGET/FISCAL IMPACT:
Informational only
ATTACHMENTS:
RCA – Audit Presentation
2012 Audited Financial Statements
2012 Management Letter
REQUESTED COUNCIL ACTION:
Accept the 2012 Audited Financial Statements.
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