Title
City of Gainesville Fiscal Year 2019 Comprehensive Annual Financial Report, Audited Financial Statements, Auditors' Reports, Auditors' Management Letters and Single Audit Reports (B)
Explanation
In accordance with the City's contracts for external auditing services with Purvis Gray & Company, LLP, the following reports will be presented for review by the Audit and Finance Committee:
1. The Basic Financial Statements, Supplemental Information and Independent Auditors' Report and Management Letters of the City of Gainesville, Florida for the Fiscal Year Ended September 30, 2019.
In the opinion of the independent auditors, the financial statements present fairly in all material respects, the financial position and changes in financial position of the City for the year ended September 30, 2019, in accordance with accounting principles generally accepted in the United States of America.
As part of the audit process the independent auditors issue "management letter comments" along with several other reports related to internal control structure; compliance with certain provisions of laws, regulations, contracts and grants, and internal control structure and certain requirements applicable to federal and state financial assistance programs.
In accordance with Section 8(b) of Resolution 150127, City Auditor Responsibilities and Administrative Procedures, the City Auditor has reviewed the attached statements and reports to ensure that contractual terms have been fulfilled and transmits these reports with a recommendation for City Commission acceptance.
Recommendation:
The Audit and Finance Committee reviewed and recommends that the City Commission accept the subject financial report, financial statements, auditors' reports and management letters; and management’s written response.