HomeMy WebLinkAboutItem 09Date: July 5, 2011
Acknowled•e Receit of Cit of Lakeville Comprehensive Annual Financial Report
for the Year Ended December 31, 2010
Proposed Action
Staff recommends adoption of the following motion: Move to acknowledge receipt of
City of Lakeville Comprehensive Annual Financial Report for the Year Ended December
31, 2010
Overview
The City of Lakeville Comprehensive Annual Financial Report for the Year Ended
December 31, 2010 is attached for City Council review and approval. The certified
public accounting firm of Malloy, Montague, Karnowski, Radosevich & Co., P.A.
(MMKR) has audited the financial report. In their opinion, the financial statements, as
presented, represent the financial position of City of Lakeville as of December 31, 2010
and the results of operations for the year ended. Mr. William Lauer, Partner with
MMKR, will present an overview of the financial report at the July 5 Council meeting.
Primary issues to Consider
Item No.
® Financial condition of the City of Lakeville. An overview of the financial
operations is provided in the Letter of Transmittal (pages 6 -13) and
Management's Discussion and Analysis (pages 17 -34).
• MMKR has submitted the attached Management Report regarding their
observations during the course of the audit.
Supporting Information
A. Management Report
B. Special Purpose Audit Reports — Internal Controls, and Compliance with Laws and
Regulations
C. City of Lakeville Comprehensive Annual Financial Report for the Year Ended
�J3.eeembeE3 2010
Finis Feller s°" mance Director
Financial Impact: - N/A budgeted: N/A Source: N/A
Related Documents (CIP, ERP, etc.):
Notes: