AGENDA MEMORANDUM

Meeting Date:           June 14, 2010

From:                          Jerry Boop, Finance Director, CPA, CGFO

Subject:                      Communication with those charged in governance

Staff Recommendation:

Staff recommends the City Commission accept this communication from its auditors Purvis Gray.

Analysis:

The accounting and auditing professions have come under the microscope due to the business failures of large corporations such as Enron, WorldCom and the recent activities of Wall Street.  While much of the blame has been placed on business ethics, additional focus has been placed on the methods of communication between the auditing firm, an entity’s management and its board of directors.  This communication offers additional information in regard to the audit and provides the Commission another opportunity to ask questions regarding the audit and financial position of the City.

Options:

1.  Accept the communication from the City’s Auditors Purvis Gray; or

2.  Such alternative action as the Commission may deem appropriate

Fiscal Impact: 

None

Submission Date and Time:    6/9/2010 2:07 PM____

Department: __Finance_____________ Prepared by:  __Jerry Boop_______                      Attachments:         Yes_x__   No ______ Advertised:   ____Not Required ______ Dates:   __________________________                      Attorney Review :       Yes___  No ____ _________________________________            Revised 6/10/04

Reviewed by: Dept. Head _JB_____ Finance  Dept. __________JB______                                    Deputy C.M. ___________________                                          Submitted by: City Manager ___________________

Account No. _________________ Project No. ___________________ WF No. ______________________ Budget  ______________________ Available _____________________