12-13-2011 CC RPT 34 - Laserfiche WebLink

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^ ��^"�:t�lt"��: (e� ,f�t�� , City Council Memorandum ity TO: HONORABLE MAYOR AND CITY COUNCIL DATE: December 13, 2011 FROM: CITY MANAGER'S OFFICE — FINANCE DIVISION ITEM NO: 34 WARD: ALL SUBJECT: 2011 AUDIT REPORTS ISSUE As required by the Riverside City Charter, an annual audit of the financial statements of the City and report thereon by independent public accountants shall be submitted to the City Council each fiscal year. RECOMMENDATIONS That the City Council: 1. Receive and file the annual audit reports outlined below. 2. Reappoint Moss Adams L.L.P. to serve as the City's independent accountant to provide for its annual audit requirements. COMMITTEE RECOMMENDATIONS The Finance Committee (members present were Hart, Gardner, and Davis) reviewed this item at its November 16, 2011 meeting. Representatives from Moss Adams made a short presentation and responded to questions from the committee. The Finance Committee approved the item as presented and recommended forwarding it to the full City Council by a unanimous vote. BACKGROUND The City's independent auditor, Moss Adams L.L.P., has completed the annual audit of the City's financial statements and other financial reports subject to audit. Representatives of the firm met with the Finance Committee on November 16, 2011 to review the following reports: Comprehensive Annual Financial Report Air Quality Management District Report Single Audit Report on Federal Awards Riverside Public Financing Authority Financial and Compliance Report Riverside Redevelopment Agency Annual Financial Report Riverside Public Utilities Annual Financial Report 34 -1