TO: Chair and Members of the Board
FROM: Diane Colonna, Executive Director
DATE: July 14, 2015
Title
ACCEPT THE INDEPENDENT AUDITOR’S REPORT FOR THE MCRA FOR THE PERIOD ENDING SEPTEMBER 30, 2014
BACKGROUND:
The audit of the CRA’s financial statements for FY 2014 was included in the City’s Comprehensive Annual Financial Report (CAFR). In prior years the CRA’s audit was conducted separately from the City’s. Pursuant to the Auditor General’s guidelines, when a CRA is included in a City’s annual financial report it is to be considered a Major Fund. While the CRA’s financial statements were appropriately evaluated in the CAFR they were not listed as a Major Fund. Therefore an additional, separate audit report was prepared and is presented for approval.
RECOMMENDATION: Accept the independent auditor’s report for the MCRA for the period ending September 30, 2014.
FISCAL IMPACT: n/a
CONTACT PERSON: Diane Colonna, Executive Director