HomeMy WebLinkAboutItem 05 - City AuditMEMO TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL
FROM: BRUNO RUMBELOW, CITY MANAGER
MEETING DATE: MARCH 17, 2015
SUBJECT: PRESENTATION - FILING OF ANNUAL CITY AUDIT
A representative from Pattillo, Brown & Hill, LLC, the City's auditing firm, will make a
presentation to the City Council filing the annual audit report in compliance with the City
Charter, Article 3, Section 3.14.
The firm of Pattillo, Brown & Hill, LLC completed the audit of the City's FY 2014 financial
statements in compliance with the requirements of the City Charter, Article 3, Section
3.14. The auditor's opinion letter states that the financial statements of the City of
Grapevine present fairly the financial position of the City. The opinion rendered is an
"unqualified opinion", meaning there are no material exceptions found to the fairness
criteria under which the records were audited.
The management letter did note some recommendations relative to City procedures and
staff has either addressed them or is working to correct them.
The report also includes an audit of Tax Increment Financing Districts One and Two.
The auditor is filing his report with the City Council. No formal action on the part of the
Council is required.