HOMER,
Finance/City Manager
ORDINANCE 07-32
AN ORDINANCE OF THE
WHEREAS, New auditing standards (SAS 104-111) have placed a higher level of emphasis on entities’ documentation of their accounting processes and internal controls over financial reporting; and
WHEREAS, Not only must the accounting processes and internal controls be documented, they must also be designed effectively to detect or prevent material misstatements in the financial statements; and
WHEREAS,
Mikunda, Cottrell & Co. currently performs the
City of
WHEREAS, Mikunda, Cottrell & Co. has responsible knowledge for review of the documentation of the City’s major transaction cycles to help identify any significant gaps in the documentation and/or internal controls; and
WHEREAS, The Finance Department requests the transfer of $3,051.00 from the General Fund Balance to fund the process documentation and internal control analysis; and
Section 1. That the transfer of $3,051.00 is hereby authorized from the General Fund Balance as follows:
Acct. No. Description Amount
Expenditure Description Amount
Audit Services Internal Control/Process $3,051.00
Documentation
Section 2. That the contract for internal control/process documentation is hereby awarded to Mikunda, Cottrell & Co. of Anchorage, Alaska in the amount of $3,051.00.
Section 3. This ordinance is a budget amendment only, is not of a permanent nature and is a non code ordinance.
PASSED
_____________________________
JAMES
C. HORNADAY, MAYOR
ATTEST:
______________________________
JO JOHNSON,
Introduction:
Public Hearing:
Second
Effective Date:
Ayes:
Noes:
Abstain:
Absent:
Reviewed and approved as to form and content:
__________________________ ___________________________
Date:______________________ Date:_______________________
Fiscal Note: Fiscal information included in body of Ordinance.