Title
Approving a resolution of the City of Pflugerville, Texas, accepting the fiscal year 2011 audit.
Summary
The City of Pflugerville Charter requires that an independent audit be conducted at the end of each fiscal year. In addition, the City received over $500,000 in federal funds during fiscal year 2011 for the West Pflugerville Parkway road project and the solar array at the water treatment plant, resulting in the single audit requirement as attached. The firm of Davis, Kinard and Company, PC, Certified Public Accountants, was retained to conduct the audit for fiscal year 2011. Ms. Diane Terrell, CPA, a partner of the firm of Davis, Kinard, met with the Finance and Budget Committee on March 8, 2012, 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, 2011." This indicates a clean audit with no material findings. The Finance and Budget Committee unanimously recommended acceptance of the fiscal year 2011 audit as presented at its March 8, 2012 meeting.
Deadline for City Council Action
March 31, 2012 to comply with SEC reporting requirements and to allow staff to apply for the Government Finance Officers' Association Certificate of Achievement for Excellence in Financial Reporting award for the comprehensive annual financial report.
Projected Future City Council Action
None.
Fiscal Impact
There is no fiscal impact as a result of this action.
Staff Recommendation
Approve the resolution.
Drafter
Beth C. Davis, Finance Director