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<br />December 10, 2018, Meeting – Item 3 <br /> <br />financial statements in accordance with generally accepted auditing standards and the Minimum Standards for Audits of Oregon Municipal Corporations. Management is responsible for the information contained in, and the preparation of, the Agency’s financial statements. To effectively fulfill this responsibility and to contain the cost of auditor services, staff devotes significant effort to the closing of accounting records, the preparation of schedules and audit work papers, and the production of the Annual Financial Report. This also results in staff expertise being developed on specific financial and service issues that can then be used to assist departments and other pertinent parties. <br />RELATED CITY POLICIES Policy B.1 of the City’s Financial Management Goals and Policies states that “The City will maintain an accounting and financial reporting system that allows reporting in conformance with Generally Accepted Accounting Principles and Oregon Local Budget Law and will issue a Comprehensive Annual Financial Report each fiscal year.” This action signifies formal completion of this process for the fiscal year ended June 30, 2018, and demonstrates the Agency’s compliance with the policy. <br />AGENCY OPTIONS None. <br /> <br /> <br />AGENCY DIRECTOR’S RECOMMENDATION The Agency Director recommends adoption of the Resolution. <br />SUGGESTED MOTION Move to adopt the resolution acknowledging receipt of the Annual Financial Report for the Urban Renewal Agency of the City of Eugene for the fiscal year ended June 30, 2018. <br />ATTACHMENTS A. Urban Renewal Agency Annual Financial Report for Fiscal Year ended June 30, 2018 B. Resolution <br />FOR MORE INFORMATION Staff Contact: Finn Cronin Telephone: 541-682-5394 Staff E-Mail: FCronin@eugene-or.gov