RES 18-39CITY OF OTSEGO
COUNTY OF WRIGHT
STATE OF MINNESOTA
RESOLUTION NO: 2018-39
ADOPTING THE COMPREHENSIVE ANNUAL FINANCIAL REPORT
FOR THE YEAR ENDED DECEMBER 31, 2017
WHEREAS, the City annually prepares a Comprehensive Annual Financial Report (CAFR); and
WHEREAS, the CAFR contains the financial statements for the City of Otsego which have been prepared in
accordance with accounting principles generally accepted in the United States of America (GAAP), as
applied to govermnental units by the Governmental Accounting Standards Board (GASB); and
WHEREAS, the financial statements have been subjected to a statutorily required audit, which has been
conducted by BerganKDV, an independent CPA firm; and
WHEREAS, BerganKDV opined that the financial statements present fairly, in all material respects, the
respective financial position of the City of Otsego for the year ended December 31, 2017; and
WHEREAS, said CAFR and the documents summarizing the audit process have been distributed to and
discussed with the City Council on June 11, 2018.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF OTSEGO,
MINNESOTA:
That the Comprehensive Annual Financial Report (CAFR) for the City of Otsego for the year ended
December 31, 2017, and all supporting documentation, is hereby adopted as the official financial
record for said fiscal year.
ADOPTED by the Otsego City Council this 1 lth day of June, 2018.
MOTION made by Council Member Heidner
CITY OF OTSEGO
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Jessica Stockamp, Maybr
ATTEST:
Tarin ldff, City Cleric
and SECONDED by Council Member
INFAVOR: Stockamp, Heidner, Tanner, Darkenwald, Warehime
OPPOSED: None
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