HomeMy WebLinkAboutItem 01 - AuditMEMO TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL
FROM: ROGER NELSON, CITY MANAGER
MEETING DATE: APRIL 1, 2003
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 has completed their audit of the City's FY 2002
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 firm is filing their report with the City Council. No formal action on the part of the
Council is required.
WAG/cjc
March 6, 2003 9:42 AM