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File #: RS-22-051    Version: 1 Name: FY 2021 ACFR
Type: Resolution Status: Passed
File created: 3/16/2022 In control: City Council
On agenda: 4/26/2022 Final action: 4/26/2022
Title: Consider a memorandum/resolution accepting the annual audit report for the fiscal year ended September 30, 2021.
Sponsors: Finance Department
Title

Consider a memorandum/resolution accepting the annual audit report for the fiscal year ended September 30, 2021.

Summary

DATE: April 19, 2022

TO: Kent Cagle, City Manager

FROM: Jonathan Locke, Executive Director of Finance

SUBJECT: FY 2021 Annual Audit

BACKGROUND AND FINDINGS:

The City Council previously approved the engagement of Belt Harris Pechacek, LLLP to perform the independent audit of the City's financial records for the fiscal year ended September 30, 2021.

Belt Harris Pechacek, LLLP has completed its audit of the City of Killeen, as well as a Federal Single Audit, and Passenger Facility Charge Audit. Representatives of the firm will present the results of the audit to the City Council.

The City's audits are required to be performed in accordance with generally accepted auditing standards set forth in the General Accounting Office's (GAO) Government Auditing Standards, the provision of the Single Audit Act Amendments of 1996, the U.S. Office of Management and Budget (OMB) Uniform Guidance, and Audits of State and Local Governments.

The audit provides reasonable assurance that the financial statements of the City of Killeen for the fiscal year ended September 30, 2021, are free from material misstatement. The audit report has been compiled to meet all required provisions of the Government Accounting Standards Board.

THE ALTERNATIVES CONSIDERED:

1. Reject the annual audit report for the fiscal year ended September 30, 2021.
2. Accept the annual audit report for the fiscal year ended September 30, 2021.

Which alternative is recommended? Why?

Option number 2 is recommended.

CONFORMITY TO CITY POLICY:

Conforms to City Charter, Article III, Section 40 and the Financial Governance Policy VII.C External Audit

FINANCIAL IMPACT:

What is the amount of the expenditure in the current fiscal year? For future years?

N/A

Is this a one-time or recurring expenditure?

N/A

Is this expenditure budgeted?

N/A

If not, where will the money co...

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