City and Borough of Juneau
Finance Committee Meeting
April 8, 2004
5 p.m., Chambers
I. Call to Order
II. Roll Call
The City and Borough
of Juneau’s FY03 Financial Reports
Each year the City and the School
District produce a number of annual financial reports. The reports produced
- The Letter to the Assembly. This is a report targeted directly to the Assembly
on financial management and policy issues. The report is intended to disclose
the responsibilities of the auditor and what assurances the audit provides.
In addition, this report also discloses disagreements with management, auditor
adjustments and/or poor judgment used in financial management.
- The Internal Control and Operating Comments report. This report contains
analysis on operational items coming to the attention of the Auditors during
the audit process. The report references issues that are opportunities for
strengthening internal controls and/or operating efficiencies.
- The Comprehensive Annual Financial Report (CAFR). This report reports the
results of our operations and financial balances. The Auditors’ issued
a “clean opinion” regarding the CBJ’s general-purpose financial
- The State Financial Assistance Report. This report, commonly referred to
as the “state single audit”, reports the CBJ’s compliance
with the terms and conditions of grants received from the State. This report
includes a listing of all State supported projects, the status of the grant
funds and comments on compliance.
- The Expenditure of Federal Awards Report. This report, commonly referred
to as the “federal single audit, reports the CBJ’s compliance
with the terms and conditions of the grants received from the federal government.
This report includes a listing of all federally supported projects, the status
of the grant funds and comments on compliance.
Max Mertz, partner with Elgee, Rehfeld
& Mertz, LLC, will present a short overview of the audit reports, discuss
his findings and answer question.
and Borough of Juneau Budget Orientation
Staff will present a short overview on the City and Borough’s budget laws,
policies, processes and history.
FY05 and FY06 Proposed Biennial Budget
The City Manager will present to the Finance Committee his proposed FY05 and
FY06 operating budget for the City and Borough of Juneau. The budget being presented
includes all of the CBJ’s operating functions including the School District