Title
Presentation and consideration of a resolution of the City of Pflugerville, Texas, accepting the fiscal year 2013 audit.
Summary
The City of Pflugerville Charter requires that an independent audit be conducted at the end of each fiscal year. The firm of Davis, Kinard and Company, PC, Certified Public Accountants, was retained to conduct the audit for fiscal year 2013.
Ms. Diane Terrell, CPA, a partner of the firm of Davis, Kinard, met with the Finance and Budget Committee on March 6, 2014, to present and review the results of the audit. The unqualified audit opinion states that the City's financial statements "present fairly, in all material respects, the respective financial position ... of the City of Pflugerville, Texas as of September 30, 2013." This indicates a clean audit with no material findings. In a separate letter to the Finance and Budget Committee (attached), the auditor stated there were no disagreements with management on accounting issues and no difficulties in performing the audit. Also stated by the auditor was that she is required to report any significant audit adjustments that were proposed in the year, as well as any immaterial adjusting journal entries (AJEs) identified but not posted. The auditor did not propose any material audit AJEs as a result of the audit procedures. She expressed satisfaction in working with the City personnel because their level of knowledge and dedication comes across in the work reviewed by the audit team. Ms. Terrell further stated "We are pleased to report no advisory comments for management again this year. We appreciate the hard work that the finance staff performs to get ready for the audit but also the work that is performed for the city year-round."
The Finance and Budget Committee unanimously recommended acceptance of the fiscal year 2013 audit as presented at its March 6, 2014, meeting.
Deadline for City Council Action
March 31, 2014, to comply with Securities and Exchange Commission...
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