AGENDA #6

 

MEMORANDUM

 

 

TO:                  Mayor and Town Council

 

FROM:            W. Calvin Horton, Town Manager

 

SUBJECT:       Comprehensive Annual Financial Report and Auditor’s Letter

 

DATE              November 26, 2001

 

Background

 

Accompanying your packet is a copy of the Town’s 2000-2001 Comprehensive Annual Financial Report and associated letter to the Council from the Town’s auditors, McGladrey and Pullen, L.L.P.  The Comprehensive Annual Financial Report provides the audited financial statements for the Town of Chapel Hill. 

 

Discussion

 

The Town received a “clean” audit; that is, the auditors found no reportable conditions or weaknesses in the Town’s system of internal controls and related procedures.

 

We are pleased to present this report to the Council.  A representative of McGladrey and Pullen, L.L.P., will make a brief presentation and answer questions as the Council desires.