030287-Workshop Session MINUTES
City Commission, Sanford, Florida
231
19 87
The City Commission of the City of Sanford, Florida, met in Workshop Session in
the City Manager's Conference Room at the City Hall in the City of Sanford, Florida, at 4:35
o'clock P. M. on March 2, 1987.
Present: Mayor-Commissioner Bettye D. Smith
Commissioner Whitey E~stein
Commissioner John Y. Mercer
Commissioner Bob Thomas
Commissioner A. A. McClanahan
City Attorney William L. Colbert
City Manager Frank A. Faison
City Clerk H. N. Tamm, Jr.
The meeting was called to order by the Chairman.
Christine Hill and Dan O'Keefe of Coopers and Lybrand, Certified Public
Accountants, appeared to present the annual audit for Fiscal Year Ended September 30, 1986.
Ms. Hill reported quite a few changes in the past year in the professional
requirements included in the new audit guide by the American Institute of CPA's require an
extended level of reporting, also, new rules by the Auditor General of the State of Florida
requiring larger amounts of reports to be included with the Financial Statements, and
because the City is receiving some Federal funds, the City is subject to the Single Audit
Act of 1974 which also require additional reports. The reason for the expanded level of
reporting is the variety of laws, rules and regulations that have come out from a variety of
sources that Coopers and Lybrand, as CPA's, are required to follows.
Ms. Hill stated the auditor's report on the financial statements is an unqualified
opinion which is the result of their audit procedures and adjustments during the course of
the audit; there were no additional adjustments they felt needed to be made. They also
reviewed the City's compliance with the Revenue Bond Covenants and did not note any
inconsistencies of noncompliance with the covenants. As far as the Balance Sheet, Ms. Hill
reported the City is in sound fiscal condition; there are funds available in the General
Fund that will cover any contingencies that arise. The Report on Internal Control
submitted, in accordance with the requirements of the Audit Guide, the Rules of the Auditor
General and the Single Audit Act of 1974, states that in connection with the audit of
financial statements, Coopers and Lybrand made a review and evaluation of the system of
internal accounting that are in effect at this time to safeguard its assets, and required
them to comment if they find any instance of weakness; Coopers and Lybrand did not find any
such weaknesses. Also, they did not find any material weakness of noncompliance with the
laws and regulations.
Ms. Hill, also, stated that the Auditor General required her firm to submit
comments, and these should be received as a tool for long range planning, and proceeded to
review these comments and the City Manager's responses.
Ms. Hill thanked Mr. Faison, Mr. Tamm, Ms, Small and all of the staff that
participated with them in the process of their audit.
The Chairman commended Ms. Hill for the professional presentation of the City's
annual audit, and commended Staff for their response and comments.
ATTEST
There being no further business, the meeting was adjourned.
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