Agenda Information Sheet
DEPARTMENT: Finance
DCM: Bryan Langley
Date: September 12, 2017
SUBJECT
Title
Receive a report, hold a discussion, and give staff direction regarding the FY 2016-17 external financial audit to be conducted by Pattillo, Brown & Hill L.L.P.
Body
BACKGROUND
Each year, the City hires an independent accounting firm to conduct an audit of the City's basic financial statements. The purpose of the audit is to express an opinion as to whether the City's basic financial statements present fairly, in all material respects, the financial position of the City.
The City of Denton has a contract with Pattillo, Brown & Hill L.L.P., to perform audit services for FY 2016-17. These services include an audit of the City's basic financial statements in accordance with generally accepted auditing standards and the performance of a Single Audit, which is an audit of the City's expenditures of State and Federal grant awards.
The purpose of this item is to provide the Audit/Finance Committee with an opportunity to communicate with the audit firm during the beginning of the engagement. John Manning with Pattillo, Brown & Hill L.L.P., will be in attendance at the Audit/ Finance Committee meeting to give a presentation and to answer any questions from the Committee.
STRATEGIC PLAN RELATIONSHIP
The City of Denton's Strategic Plan is an action-oriented road map that will help the City achieve its vision. The foundation for the plan is the five long-term Key Focus Areas (KFA): Organizational Excellence; Public Infrastructure; Economic Development; Safe, Livable, and Family-Friendly Community; and Sustainability and Environmental Stewardship. While individual items may support multiple KFAs, this specific City Council agenda item contributes most directly to the following KFA and goal:
Related Key Focus Area: Organizational Excellence
Related Goal: 1.1 Manage financial resources in a responsible manner
Respectfully submitted:
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