TITLE
Recommendation to receive and file the 3rd and 4th Quarter FY 2008 Investments Audit for the quarters ending June 30, 2008, and September 30, 2008.
DISCUSSION
Pursuant to Section 803 of the City Charter, the Office of the City Auditor is charged with verifying cash in the City Treasury on a quarterly basis and providing a written report to the City Council. Due to recent events in the economy, our office initiated an audit focused solely on the City's investment activities for the quarters ending June 30, 2008 and September 30, 2008. The results of our audit are presented in the attached report.
TIMING CONSIDERATIONS
This item is not time sensitive.
FISCAL IMPACT
There is no fiscal impact.
SUGGESTED ACTION
Approve recommendation.
Respectfully Submitted,
LAURA L. DOUD, CPA
CITY AUDITOR