HomeMy WebLinkAbout1998-01-13; Housing & Redevelopment Commission; 293; 1996-97 Annual Financial Report- -
CITY OF CARLSBAD G-R.c- 0 I
HOUSING AND REDEVELOPMENT COMMISSION
AGENDA BILL
AB# &?3 TITLE:
MTG. 01/l 3198 1996-97 ANNUAL FINANCIAL REPORT CITY All-Y. ‘3h
DEPT. FINANCE CITY MGR. %w--
RECOMMENDED ACTION:
Accept the 1996-97 Carl&ad Redevelopment Agency annual report a
ITEM EXPLANATION:
Each year an independent auditor examines the Carlsbad Redevelopment Agency financial records, a
component unit of the City of Carlsbad. In fiscal year 1996-97, Conrad & Associates completed its fifth
year as the Agency’s outside auditor. The audit process requires several months of on-site
examination, testing, and reconciliation of investments, bank statements accounting records, warrants
issued, payroll records, appropriations, fixed assets, revenues and expenditures. The end result is an
opinion on the fairness of the presentation of the financial data within the report. As in the past, this
year we received an unqualified opinion on our annual report. This report has been previously
distributed to the respective governing bodies and additional copies are on file with the City Clerk and
the Finance Department.
FISCAL IMPACT:
The financial report presents the financial condition of the Carlsbad Redevelopment Agency as of
June 30, 1997. The combined assets of the Agency are $32 million. Total revenues were $1.9
million and total expenditures were $2.3 million. Additional information can be found in the financial
report.
EXHIBIT:
1. Carlsbad Redevelopment Agency, Combined Financial Statements for fiscal year ended
June 30, 1997 on file with the City Clerk.