HomeMy WebLinkAboutItem 09 - AuditMEMO TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL
FROM: BRUNO RUMBELOW, CITY MANAGER
MEETING DATE: MARCH 19, 2019
SUBJECT: PRESENTATION - FILING OF ANNUAL CITY AUDIT
RECOMMENDATION: Pattillo, Brown and Hill, LLC, the City's auditing firm, to present the annual
audit report in compliance with the City Charter, Article 3, Section 3.14.
FUNDING SOURCE: This action will have no material effect on City funds.
BACKGROUND: A representative from Pattillo, Brown and 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 completed the audit of the City's FY 2018 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 "unmodified opinion", meaning there are no
material exceptions found to the fairness criteria under which the records
were audited. 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.