Learning locally - City of Coral Springs

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City’s annual financial report
receives top marks from external auditors
The City recently received top marks on its annual financial
report from its external auditors, McGladrey & Pullen. Brett
Friedman, CPA, reported on the firm’s audit of the City’s
Comprehensive Annual Financial Report (CAFR) for the year
ended September 30, 2009.
“The best possible opinion you can receive from us is
an unqualified opinion, and you did receive an unqualified
opinion with regard to your report,” Friedman said.
The City’s annual CAFR captures the organization’s
financial position and activities as required by local
ordinances and State statutes, but it also provides an
informative narrative of City operations. Friedman listed
numerous areas in which the CAFR demonstrated the City’s
fiscal responsibility and transparency of accounting practices.
These included the auditors’ findings of no significant or
unusual accounting transactions; no findings contrary
to Generally Accepted Accounting Principles (GAAP); no
significant audit adjustments or uncorrected misstatements;
and no disagreement with management over application of
accounting principles.
In addition, the auditors did not identify any deficiencies
in the City’s internal controls over financial reporting that
would result in more than a remote likelihood that a material
misstatement of the financial statements would not be
prevented or detected.
“The audit findings demonstrate that the City respects the
trust our residents place in us to manage the dollars they
provide in the
most responsible
manner,” City
Manager Michael
S. Levinson said.
“Particularly in the
current economic
climate,
credibility is the
most precious
currency, and a
clean audit from
an independent
firm that showcases the City’s fiscal discipline
is one more way we honor our promises to the community.”
The audit findings continue to validate the City’s business
model, which matches its willingness to preserve service
levels in the community with the ability to focus on
long-term financial success. The Coral Springs way of doing
business has long been recognized by Wall Street. When
major credit rating agency Fitch Ratings recently reevaluated
the City’s financial condition and awarded Coral Springs
the highest possible rating, AAA with a Stable Outlook,
Fitch noted that “the City’s financial profile remains strong.
Financial operations are very well-managed.”
CoralSprings.org/budget
Remember
vote
to
Special Election on April 13
The City encourages all voters to make their voices heard at
the polls during all elections at every level.
Voters residing within the 19 th U.S. Congressional districts
may participate in the April 13 special election. Applicable
precincts for the special primary election are as follows: E001,
E002, E005, E006, E008, E009, E010, E011, E012, E013, E016,
E017, E019, E020, E025, E026, E027, E030, E032, E033, E034,
E035, E036, E038, E039, E041 and E045.
Early voting for the special primary election will be
available at the Northwest Regional Library on Monday, April
5 through Friday, April 9 from 10 a.m. to 6 p.m. and Saturday,
April 10 from from 8:30 a.m. to 4:30 p.m.
April 13
Information for voters
regarding registration,
absentee ballots,
upcoming election
details, and other general
information is available
from the Broward
County Supervisor of
Elections Office.
browardsoe.org
954-357-7050
6 • Coral Springs • Spring 2010 Visit CoralSprings.org