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MEMO TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL
FROM: ROGER NELSON, CITY MANAGER
MEETING DATE: MARCH 19, 2002
SUBJECT: FILING OF ANNUAL CITY AUDIT
RECOMMENDATION:
A representative from Deloitte & Touche 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.
BACKGROUND:
The audit firm of Deloitte & Touche was hired by the City Council on August 19, 1997. The
firm has completed their audit of the City's 2001 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 that there
were no material exceptions found to the fairness criteria under which the records were
analyzed.
The audit also includes an audit of the Tax Increment Financing Districts (TIF's 1 & 2)
which were also free of material exceptions.
The auditor is filing his report with the City Council. No formal action on the part of the
Council is required.
WAG/cjc
H:AuditFiling2002
March 13, 2002 (10:19AM)