HomeMy WebLinkAbout1980-03-18; City Council; 6119-1; City's federal revenue sharing compliance audit.*
1
_^- -_----
--_I_ I--- __ __ --"--.--.------ - Stih-j c3ct x
cc---c-r. l_l_ll__.l.II-I.ly---- _I. . "....---- ^--I ~ I---- ----.----
S'cakerr,enk Q€ t);e PE3tt~z I
Presentation of the City's Federal Revenue Sharing Compliance Audit
LI_- --
--_* "----- ------
Earlier this year the City Council authorized the staff to engage George A. Peterson to prepare th'e required Federal Revenue Sharing Compliance audat. This audit had to be prepared to guarantee our
continued partic-ipation in the Federal Revenue Sharing program.
The results of the audit show no significant case of non-compliance . with federa1,regulations. The attached memo dated 3-5-80 to the City Manager from the Finance Director discusses the audit findings.
Exhibits
Aud i t . re ph r t Letter to City Manager from Finance Director dated 3-5-80 from George A. Peterson F, Co. -.
Recommendat ion
Accept audit
. Council 'Action:
.3-i8-80 Counci 1
as submitted
accepted the audit as submitted.
.
..
.
*
..
MEMORANDUM
TO: City Manager
FROM: Finance Director
DATE: March 5, 1980
SUBJECT: Completion of the Federal Revenue Sharing Compliance Audit
During the last month, the City Finance Department and the City's auditor, George A. Peterson and Company, have been
involved in a Federal Revenue Sharing Compliance audit. This audit was required by federal law and had to be sub- mitted to the Office of Revenue Sharing by March 1, 1980.
The City's audit was completed and submitted to the federal government on February 26, 1980, well within the federal regulations. The audit findings applying to Federal Revenue Sharing are found on pages 31 through 34 of the attached audit.
According to the audit report the only departures from the Federal Revenue Sharing rules existed in the publiGation requirements for the actual use report (within 10 days of
preparation and filing) and budget availability (within 30 days of its enactment). These deadlines have been noted and placed in the calendar of events the Finance Department shall follow in the budget process.
The audit also commented on an accounting adjustment that must be made to properly reflect the utilization of anti- recession funds. This adjustment will be posted during fiscal year 1979-80.
Aside from these additional pages and comments, the audit report is the same report presented to the council earlier this year. __