Title
Fiscal Year 2020 Individual Annual Audited Financial Statements and Independent Auditors' Reports for the Employees’ Pension Fund, Consolidated Police Officers' and Firefighters' Retirement Plan, Retiree Health Insurance Program, and the Wild Spaces Public Places Funds (B)
Explanation
Section 218.39, Florida Statutes, requires the City of Gainesville (City) to publish within nine months of the close of the fiscal year a complete set of financial statements presented in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP). The City presents financial information such that it meets the requirements of accounting standards issued by the Governmental Accounting Standards Board (GASB). The basic financial statements were included in the Annual Comprehensive Financial Report of the City for the fiscal year ended September 30, 2020 and that report was approved by the City Commission on April 22, 2021.
In addition to the Annual Comprehensive Financial Report, the City is required to submit individual annual audited financial statements for the Employees’ Pension Fund, Consolidated Police Officers' and Firefighters' Retirement Plan, Retiree Health Insurance Program, and the Wild Spaces Public Places Funds. The reports were prepared by the Budget & Finance Department and audited by an independent firm of licensed certified public accountants, Purvis Gray & Company, LLP, according to the City Code of Ordinances, Chapter 2 Article VI, Section 2-433 and are hereby transmitted.
The reports consist of management’s representations concerning the finances of the two pension plans, the other postemployment benefits fund, and the Wild Spaces Public Places funds. To provide a reasonable basis for making those representations, management of the City has established a comprehensive internal control framework that is designed both to protect the government’s assets from loss, theft, or misuse and to compile sufficient reliab...
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