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Presentation of the City of Pompano Beach Comprehensive Annual Financial Report, Single Audit Reports and Management Letter for the Fiscal Year ended September 30, 2016 and the results of the annual audit by Marcum LLP, Independent Certified Public Accountants.
(Fiscal Impact: N/A)
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(Staff Contact: Andrew Jean-pierre)
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Summary Explanation/Background:
Florida Statutes, Chapter 218.39, Annual Financial Audit Reports, mandates the preparation of a Comprehensive Annual Financial Report (CAFR) for each fiscal year and Florida Statute Chapter 11.45, mandates that an annual audit of the CAFR be conducted by an independent certified public accountant, in accordance with the rules of the Auditor General of the State of Florida and American Institute of Certified Public Accountants Statements on Auditing Standards. The preparation of the CAFR by the City's Finance Department serves to facilitate the annual audit.
In addition, as recipient of Federal and State grant funds, the City is required to undergo an annual single audit, performed by an independent certified public accountant, in accordance with the provisions of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) and Chapter 10.550, Rules of the Auditor General, State of Florida.
Marcum LLP, independent certified public accountants (the City's external auditors) will present the results of their audit of the City's CAFR and Federal and State Grant Programs for the fiscal year ended September 30, 2016, as well as make required communications to the City Commission. Please refer to Finance Department Memorandum 17-62 for a discussion of the City's financial position at 9/30/16 and results of operations for the fiscal year.
Origin of request for this action: Finance Department
Fiscal impact and source of funding: N/A