DATE: November 6, 2014
TO: Board of Mayor and Aldermen
FROM: Eric Stuckey, City Administrator
Dan Miller, Crosslin & Associates
SUBJECT:
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Acknowledgement of Comprehensive Annual Financial Report
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Purpose
The purpose of this memo is to provide information to the Franklin Board of Mayor and Aldermen (BOMA) concerning the financial condition of the City for the period ending June 30, 2014
Background
Each year, the Budget & Finance Committee, acting as the Audit Committee, receives the Comprehensive Annual Financial Report for the City. The City engages an outside auditing firm to conduct the audit and produce a formal report for the Committee. Additionally, the representatives of the auditing firm makes a presentation to the Committee regarding the contents of the report.
Financial Impact
There is no direct financial impact from receipt of the report
Recommendation
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Staff recommends that the Committee move to acknowledge receipt of the Comprehensive Annual Financial report and forward to the Board of Mayor & Aldermen