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RFD- 3556 Business Items   Item #   10. a.    
Regular Council Meeting Agenda
Meeting Date: 04/23/2019  
Title:    2018 Audited Financial Statements - Pungur-Buick
Department: Corporate Services  
Strategic Vision Element: This topic relates to all three of the City’s strategic vision elements contained in Council’s Strategic Plan Related Goal: n/a

Information
Request for Decision Summary
This request for decision seeks approval of the 2018 consolidated financial statements as prepared by Administration and audited by KPMG LLP.

Proposed Motion
That the audited consolidated financial statements of the City of Spruce Grove for the year ended December 31, 2018 be approved as presented.

Background/Analysis
The consolidated financial statements have been prepared and are presented by Administration, which is responsible for their accuracy, objectivity, and completeness.  The consolidated financial statements represent the financial position of the City at December 31, 2018, as well as the results of its financial operations, changes in net financial assets, and changes in financial position for the year.

KPMG LLP, the City's independent auditor, has audited the consolidated financial statements and expressed an unqualified opinion on the financial statements as presented. KPMG will be presenting to Council an explanation of the Auditor's Report, the Audit Findings Report, and answer any questions about the financial statements at the April 23, 2019 Council meeting. 

Administration will provide Council with an overview and answer questions about the financial statements. 

Options/Alternatives
Should Council have any matters they wish to discuss in confidence with the auditors prior to voting on the recommended motion, Council can opt to pass the following motion to go into closed session:  

That Council go into Closed Session under section 24 (1), of the Freedom of Information and Protection of Privacy Act, respecting advice from officials.

Consultation/Engagement
N/A
Implementation/Communication
The Municipal Government Act requires the City to publish these financial statements and submit a copy to the Minister of Municipal Affairs no later than May 1, 2019.  A summary of these financial statements will be published in the Summer 2019 issue of City Pulse that is expected to be released in mid-May.  In addition, a copy of these financial statements will be posted on the City's website.

Impacts
N/A
Attachments
Auditor Presentation
2018 Consolidated Financial Statements
2018 Audit Findings Report
Management Responses to Audit Findings

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