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COUNCIL COMMUNICATION <br />TO: MAYOR AND CITY COUNCIL <br />FROM: MALCOLM FLEMING, CITY MANAGER <br />DATE: AUGUST 20, 2012 <br />SUBJECT: PRESENTATION OF 2011 COMPREHENSIVE ANNUAL FINANCIAL <br />REPORT (CAFR) AND COMMUNICATION IN COMPLIANCE WITH SAS <br />114 – EIDE BAILLY LLP <br />ORIGINATING <br />DEPARTMENT: FINANCE <br />SUMMARY: <br />Attached is copy of the City’s 2011 Comprehensive Annual Financial Report (CAFR). A hard <br />copy of this report was distributed to City Council on June 25, 2012. <br />Also attached is a letter from Eide Bailly LLP, the City’s independent auditor. This is standard <br />communication as prescribed by Statements on Auditing Standards No. 114 (SAS 114). The <br />letter reviews the auditor’s responsibilities, management’s responsibilities, the information <br />within the City’s financial statements that is, and is not, subject to auditing procedures, the <br />scope of the audit, and any significant findings. <br />Dave DeZutter, Audit Partner with Eide Bailly LLP, will be at the meeting to discuss both the <br />CAFR and the SAS 114 letter. Mr. DeZutter will formally present the 2011 CAFR at the City <br />Council Meeting on August 20, 2012. The SAS 114 letter will be an item on the Consent <br />Agenda at the same meeting. <br />SUBJECT AGENDA ITEM <br />PRESENTATION OF 2011 <br />COMPREHENSIVE ANNUAL FINANCIAL <br />REPORT (CAFR) AND COMMUNICATION <br />IN COMPLIANCE WITH SAS 114 – EIDE <br />BAILLY LLP <br />5 <br />