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calculation, factoring in population and inflation changes, is performed each year <br />to determine the new appropriation limit. <br />DISCUSSION <br />Auditing standards require the City's independent auditors to discuss their findings with <br />the City's Audit Committee, which was done on January 19, 2007. Councilmember <br />Jerry Thorne and Councilmember Cheryl Cook-Kallio serve on the Audit Committee. <br />Also on the committee are the City Manager and the Director of Finance. Findings <br />concerning certain internal control procedures or operations as of October 2006 were <br />presented in a report titled "Recommendations to Management". The committee <br />discussed the auditors' comments with them and there were no concerns of <br />significance. Staff has made progress in each area of the auditor recommendations <br />and will continue to improve our controls, policies and procedures. <br />Submitted by: Approved y: <br />David P. Culver Nelson Fialho <br />Director of Finance City Manager <br />Page 3 of 3 <br />