CITY of RAPID CITY Agenda Item Summary
Meeting Date: 03/07/2016		Commission, Board or Committee: NA
Staff Contact: Pauline Sumption		L&F Committee: 3/02/2016
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Agenda Title:
Acknowledge FY2015 Annual Financial Report
Summary:
State statute requires that the Finance Office provide an annual financial report to the governing body of the municipality at the first meeting in March following the fiscal year end.  Attached are the unaudited preliminary fund financial statements for the City of Rapid City for the fiscal year ending December 31, 2015.  Auditing standards require a review of cash receipts and cash disbursements for at least a minimum of 60 days subsequent to year end to ensure that all earned revenue and incurred liabilities have been properly recorded.  Finance staff are currently working on this review and those adjustments are not reflected in the attached financial statements.  In addition, capital expenditures have not been reclassified as capital assets in an effort to present the financial statements consistent with final department budgets.
Funding Source & Fiscal Impact (if applicable):
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Recommendation:
Action: Choose an item. Acknowledge Notes: Click here to enter text.
Options:
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Attachments & Links:
2015 Annual Financial Report	Click here to enter text.		Click here to enter text.
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