City Council
	Agenda Request
Agenda Of:	1-23-07	Agenda Request No:		IV A
Initiated By:	DIANNE F. STANFORD CHIEF ACCOUNTANT	Responsible Department:		ACCOUNTING
Presented By:	DIANNE F. STANFORD CHIEF ACCOUNTANT	Department Head:		DIANNE F. STANFORD CHIEF ACCOUNTANT
		Additional Department. Head (s):		LINDA SYMANK DIRECTOR OF FISCAL SERVICES
Subject / Proceeding:	Audited Annual Financial Report and Auditors’ Opinion for Fiscal year ended September 30, 2006.
Exhibits:	The Auditors’ Opinion on the City of Sugar Land’s Basic Financial Statements for Fiscal Year ended September 30, 2006. The bound audited Annual Financial Report will be presented to Council at the meeting.
Clearances			Approval
Legal:	N/A		Executive Director:	N/A
Purchasing:	N/A		Asst. City Manager:	n/a
Budget:	N/A		City Manager:	Allen Bogard
Budget
Expenditure Required: $			N/A
Amount Budgeted/Reallocation: $			N/A
Additional Appropriation: $			N/A
Recommended Action
Review for filing the Basic Financial Statements for the year ended September 30, 2006 and the independent auditors’ opinion thereon.
Executive Summary
As required by state statute, an independent audit has been made by the certified public accounting firm of Null-Lairson, P.C. for the year ended September 30, 2006. Pursuant to Section 103.003 of the Texas Local Government Code, the annual financial statements including the auditors’ opinion must be filed with the City Secretary within 120 days after the last day of the fiscal year. The audited Basic Financial Statements, which include the auditors’ opinion, are hereby presented to the Mayor and City Council and to the City Secretary for filing. Staff and the auditors met with the Council Finance/Audit Committee January 17 to review the financial statements and Auditors’ Opinion. Christopher Breaux of Null-Lairson will present the report.
Exhibits