Receive and File Audited Financial Statements for Fiscal Year Ending June 30 2010. MEETING DATE: 01/10/11 AGENDA ITEM: Receive and File Audited Financial Statements for Fiscal Year Ending June 30 2010 ATTACHMENTS Attachments: 1. Comprehensive Annual Financial Report 2. Municipal Bus Lines Report 3. Single Audit Report on Federal Awards 4. Independent Auditor s Report 5. Letter from Auditor s on Internal Control over Financial Reporting 6. Culver City Management Response to Internal Control Recommendations 7. The Auditor s Communication With Those Charged With Governance 8. Independent Accountant s Report on Agreed Upon Procedures Applied To Appropriations Limit Worksheets Pages 1 168 169 190 191 202 203 204 205 206 208 209 210 COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE FISCAL YEAR ENDED JUNE 30 2010 CITY OF CULVER CITY CALIFORNIA PREPARED BY THE FINANCE DEPARTMENT 1 2 3 4 5 6 Introductory Section 7 December 7 2010 Honorable Mayor Members of the City Council and the citizens of Culver City: It is our pleasure to submit the Comprehensive Annual Financial Report (CAFR) of the City of Culver City for the fiscal year ended June 30 2010. Responsibility for the accuracy of the presented data and the completeness and fairness of the presentation including all disclosures rests with the City. In our opinion the data is accurate in all material aspects is presented in a manner designed to fairly set forth the financial position and results of operations of the City and contains all disclosures necessary to enable the reader to gain an understanding of the City's financial affairs. The financial statements are prepared in accordance with Generally Accepted Accounting Principles (GAAP) as promulgated by the Government Accounting Standards Board (GASB). This report consists of management's representations concerning the finances of the City of Culver City California. Consequently management assumes full responsibility for the completeness and reliability of all of the informa...
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