City of Jonesboro - File #: RES-05:445

• File #: RES-05:445
• Version: 1
• Name: Acceptance of 2003 audit
• Type: Resolution
• Status: Passed
• File created: 6/23/2005
• In control: Finance & Administration Council Committee
• Final action: 7/5/2005
• Title: A RESOLUTION DOCUMENTING THE REVIEW OF THE ANNUAL AUDIT OF THE CITY OF JONESBORO FOR THE YEAR ENDED DECEMBER 31, 2003, AND PROVIDING FOR APPROPRIATE ACTION.
• Indexes: Audit
• Related files: MIN-05:112

Date	Ver.	Action By	Action	Result
7/5/2005	1	City Council	Passed	Pass
6/23/2005	1	Finance & Administration Council Committee	Recommended to Council	Pass

title

A RESOLUTION DOCUMENTING THE REVIEW OF THE ANNUAL AUDIT OF THE CITY OF JONESBORO FOR THE YEAR ENDED DECEMBER 31, 2003,  AND PROVIDING FOR APPROPRIATE ACTION.

body

WHEREAS, the provisions of Acts 1991, No. 187, Paragraph 1 of the State of Arkansas (ACA 10-4-219) require that (1) the annual audit report of the City of Jonesboro be reviewed by the City Council, (2) the City shall take appropriate action relating to each audit finding and recommendation contained in the audit report, and (3) the minutes of the City Council shall document the review of the findings and recommendations and the action taken, and

WHEREAS, the 2003 audit report noted that the financial statements do not disclose certain information concerning the credit risk associated with the city’s deposits and investments,

BE IT RESOLVED BY THE CITY COUNCIL FOR THE CITY OF JONESBORO, ARKANSAS, THAT:

The minutes of the City Council shall record that the annual audit report of the City of Jonesboro for the year ended December 31, 2003 has been reviewed, and, beginning in 2004, the City will disclose credit risk information required by Government Accounting Standards Board Statement No. 3 for the City’s deposits and investments.

PASSED AND ADOPTED THIS 5^th DAY OF July, 2005.