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City Council Meeting Minutes August 19, 2014 Page 3 of 15 and sauna. Annual members may use their passes at the Lafayette's Bob Burger Recreation Center, but punch pass holders will need to pay the daily admission fee. The Louisville Recreation Center is over 20 years of age, but does not show its age because of the City's annual maintenance program. • Many of the meeting rooms at the City Hall and the Library are being used for assessment of candidates for a Police Commander. This is a two day process. Chief Hayes has put together an assessment team, which includes other law enforcement agencies and City staff members. There are ten excellent candidates for the position. REGULAR BUSINESS REVIEW OF 2013 COMPREHENSIVE ANNUAL FINANCIAL REPORT Mayor Muckle requested a staff presentation. Finance Director Watson reported on June 27th the City published its Annual Comprehensive Financial Report (CAFR) for the year ending December 31, 2013. The report contains the City's official financial statement for 2013 prepared by the Finance Department. The financial statements were audited by the City's independent external auditors who provided an opinion letter with regards to the City's financial statement. He introduced David DeZutter, Audit Partner with Eide Bailly LLP, the City's external auditors, to present the 2013 CAFR, the audit, the audit opinion letter and the financial statements contained within the CAFR. David DeZutter, Eide Bailly LLP, 440 Indiana Street, Ste. 200, Golden, CO explained Eide Bailly is the independent auditor appointed by the City Council. They completed the audit in May and presented the opinion letter on June 10th. He thanked Finance Director Watson and his staff for their assistance. He stated the Audit Opinion is a clean, unmodified opinion on the financial statements in accordance with governmental generally accepted accounting principles. As part of the audit, they examine the internal controls as relates to the financial statements. He stated there were no material weaknesses or inefficiencies identified within the City nor were there any audit adjustments. Mr. DeZutter highlighted some of the funds included in the report: The General Fund improved its financial position by $2.2 Million, resulting in an end of the year balance of $6.5 Million and the City's cash balances remain healthy. The General Fund and the Enterprise funds increased over $7 Million and the Water and Wastewater funds are generating positive income. The City's overall cash fund is healthy and the financials are strong. He reported the 2013 CAFR and auditor communications under Statement on Auditing Standards (SAS) were presented to the Finance Committee on August 18th. Mayor Muckle thanked Mr. DeZutter for his presentation on the CAFR.