HomeMy WebLinkAbout2012 03 26 Regular 601 Requesting Acceptance of the Comprehensive Annual Financial Report (CAFR) year end September 30, 2011COMMISSION AGENDA
ITEM 601
March 26, 2012
Regular Meeting
REQUEST:
Informational
Consent
Public Hearings
Regular X
KS
City Manager
BE
Department
The City Manager Is Requesting City Commission Acceptance Of The Comprehensive
Annual Financial Report (CAFR) As Presented For The Fiscal Year Ended September
30, 2011.
SYNOPSIS:
The presentation of the Comprehensive Annual Financial Report for the Fiscal Year Ended
September 30, 2011 by the auditors McDirmit Davis & Company, LLC.
CONSIDERATIONS:
The CAFR is prepared and presented to give the City Commission, citizens, and other
users a greater understanding of the City's financial standing. Our 2011 financial
statements received an unqualified opinion (best possible) by the auditors.
Additionally, the 2011 CAFR will be submitted to the Government Finance Officers
Association (GFOA) for consideration for their Certificate of Achievement award as we
believe it continues to conform to the program's stringent requirements. The City's CAFR
has previously been awarded the GFOA's Certificate of Achievement award for the past
eleven years.
FISCAL IMPACT:
This report has no direct financial impact on the City. However, the information presented
in the CAFR is used by investors and citizens to help determine the overall financial health
of the City of Winter Springs.
Regular 601 PAGE 1 OF 2 - March 26, 2012
COMMUNICATION EFFORTS:
This Agenda Item has been electronically forwarded to the Mayor and City Commission,
City Manager, City Attorney /Staff, and is available on the City's Website, LaserFiche, and
the City's Server. Additionally, portions of this Agenda Item are typed verbatim on the
respective Meeting Agenda which has also been electronically forwarded to the individuals
noted above, and which is also available on the City's Website, LaserFiche, and the City's
Server; has been sent to applicable City Staff, Media/Press Representatives who have
requested Agendas /Agenda Item information, Homeowner's Associations/Representatives
on file with the City, and all individuals who have requested such information. This
information has also been posted outside City Hall, posted inside City Hall with additional
copies available for the General Public, and posted at five (5) different locations around the
City. Furthermore, this information is also available to any individual requestors. City Staff
is always willing to discuss this Agenda Item or any Agenda Item with any interested
individuals.
Upon acceptance by the Commission, the 2011 CAFR will also be placed on the City
web site.
RECOMMENDATION:
It is recommended that the Commission accept the Comprehensive Annual Financial Report
(CAFR) as presented for the Fiscal Year Ended September 30, 2011.
ATTACHMENTS:
Regular 601 PAGE 2 OF 2 - March 26, 2012