Agenda

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City Council Regular Meeting

Meeting Date:

03/23/2021

BACKGROUND

State law requires that local governments complete an annual audit by an independent licensed public accounting firm. This is the official Financial Statement - Fiscal Year 2019-20 Comprehensive Annual Financial Report (CAFR) for the City of Schertz as of September 30, 2020. These statements show the financial performance and financial health of the City for the previous fiscal year. The presentation will be made by Paula Lowe, CPA, Audit Partner, of Patillo, Brown, and Hill, LLP.
The Audit Committee consisting of Mayor Gutierrez, Councilmember Whittaker, Councilmember Heyward, City Manager Mark Browne, Assistant City Manager Brian James, Assistant City Manager Charles Kelm, Finance Director James Walters, and Assistant Finance Director Babett Martin met on March 19, 2021 to review the audit findings and financial statement as presented by the auditor, Paula Lowe, CPA, Audit Partner, of Patillo, Brown, and Hill, LLP.

GOAL

Inform City Council about the financial performance and health of the City.

COMMUNITY BENEFIT

The annual audit provides the community assurance the city is in good financial standing and operating in compliance with generally accepted accounting principles and governmental accounting standards.

SUMMARY OF RECOMMENDED ACTION

Approval of Resolution 21-R-23 accepting the FY 2019-20 CAFR.

FISCAL IMPACT

None

RECOMMENDATION

Staff recommends approval of Resolution No. 21-R-23 regarding the Fiscal Year 2019-20 Comprehensive Annual Financial Report

Attachments
Resolution 21-R-23
audit letter
CAFR
Single Audit Report