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File #: 18-7921    Name: FY2018 CAFR
Type: Status: Agenda Ready
File created: 7/20/2018 In control: City Council Legislative Meeting
On agenda: 11/13/2018 Final action:
Title: Consideration of the Fiscal Year 2018 Comprehensive Annual Financial Report (CAFR).
Attachments: 1. 18-7921_Att 1 - Draft CAFR
City of Alexandria, Virginia
________________

MEMORANDUM



DATE: NOVEMBER 7, 2018

TO: THE HONORABLE MAYOR AND MEMBERS OF CITY COUNCIL

FROM: MARK B. JINKS, CITY MANAGER /s/

DOCKET TITLE:
TITLE
Consideration of the Fiscal Year 2018 Comprehensive Annual Financial Report (CAFR).
BODY
_________________________________________________________________

ISSUE: Council consideration is requested of the Comprehensive Annual Financial Report (CAFR) for the fiscal year ended June 30, 2018.

RECOMMENDATION: That City Council receive the Fiscal Year 2018 Comprehensive Annual Financial Report (Attachment).

DISCUSSION: Code of Virginia ?15.2-2511 requires all local governments to have their books and records audited by an independent certified public accountant as of June 30 of each year. The Code further requires that the independent certified public accountant present a written report to the local governing body at a public session by the following December 31.

The City's Comprehensive Annual Financial Report (CAFR) for the fiscal year ended
June 30, 2018, has been completed and has been posted on the City's website at https://www.alexandriava.gov/uploadedFiles/finance/info/CAFR%20FY18%20v3.3.1-DRAFT.pdf . This report, which follows a format prescribed by the Governmental Accounting Standards Board (GASB), includes a description of the significant financial events of the fiscal year, the City's audited financial statements, and selected financial and demographic information.

The following are highlights of the report:

The City once again received a positive "clean opinion" from its independent certified public accountant, CliftonLarsonAllen, LLP, of its financial statements for the fiscal year ended
June 30, 2018. The auditors found that the City's financial statements "present fairly" the City's financial position and results of operations and that the City has complied with applicable laws and regulations related to federal grants. The CAFR includes a ...

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