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File #: 200945.    Version: Name:
Type: Staff Recommendation Status: Passed
File created: 3/12/2021 In control: Audit and Finance Committee
On agenda: 4/1/2021 Final action: 4/1/2021
Title: Gainesville Regional Utilities Fiscal Year 2020 Audited Financial Statements, Independent Auditors' Reports, and Auditors' Communication to Those Charged with Governance and Management (B)
Attachments: 1. 200945_GRU_AUD_9-30-2020_FINAL_FS_20210324, 2. 200945_GRU_Audit_Results_9-30-2020_Final_20210324, 3. 200945_GRU meeting with Governing Body - post audit - 2020 (002)_20210322
Title
Gainesville Regional Utilities Fiscal Year 2020 Audited Financial Statements, Independent Auditors' Reports, and Auditors' Communication to Those Charged with Governance and Management (B)

Explanation
The Financial Statements, Supplementary Information and Independent Auditors' Report, including the independent auditors report on internal control over financial reporting and on compliance and other matters, were posted on the Utility’s website on February 22, 2021.

In accordance with the City's contract for external auditing services with Baker Tilly Virchow Krause, LLP, the following reports are presented for review by the Audit and Finance Committee:

The Financial Statements, Supplementary Information and Independent Auditors' Report of Gainesville Regional Utilities for the Fiscal Year Ended September 30, 2020;

In the opinion of the independent auditors, the financial statements referred to in the item above, present fairly in all material respects, the financial position and changes in financial position of Gainesville Regional Utilities for the year ended September 30, 2020, in accordance with accounting principles generally accepted in the United States of America.

As part of the audit process the independent auditors issue a report on internal control over financial reporting and on compliance with certain provisions of laws, regulations, contracts and grant agreements. This report is presented within the item above.

The auditors' communication to those charged with governance and management, and internal control report over financial reporting related to Gainesville Regional Utilities indicate that there were no recommendations in the current year.

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 ...

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