RES 14-49CITY OF OTSEGO
COUNTY OF WRIGHT
STATE OF MINNESOTA
RESOLUTION NO: 2014-49
RESOLUTION ADOPTING THE COMPREHENSIVE ANNUAL FINANCIAL
STATEMENT FOR THE FISCAL YEAR ENDED DECEMBER 31, 2013
WHEREAS, the City annually prepares finacial statements detailing the balance sheets,
revenues and expenses, cash flows, debt positions, investment details and other statistical
information conveying the financial condition of the City to users of these financial statements;
and
WHEREAS, the compilation of these statements and their narrative components are referred to
as the Comprehensive Annual Financial Statement of the City; and
WHEREAS, the CAFR has been subjected to the review and audit standards mandated by
Minnesota State Statutes and Laws, GAAP, GAAFR standards the Certificate of Compliance
criteria of the Government Finance Officers Association (GFOA); and
WHEREAS, the audit of the CAFR has been completed by KDV Ltd., a certified public
accounting firm from Saint Cloud, Minnesota with expertise in municipal audits, and the City's
financial statement have been found to "present fairly, in all material respects, the respective
financial position of governmental activities, the business type -funds, each major fund and the
aggregate remaining fund information of the City of Otsego, Minnesota as of December 31,
2013" conveying an unmodified or clean opinion of the fair presentation of the CAFR; and
WHEREAS, said CAFR and the documents summarizing the audit process and finding have
been distributed to and discussed with the City Council of the City of Otsego on Monday, July
14, 2014.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
OTSEGO, WRIGHT COUNTY, MINNESOTA THAT:
the Comprehensive Annual Financial Report of the City of Otsego, Minnesota for the year ended
December 31, 2013 be and hereby is adopted as the official financial statement of the City of
Otsego for said fiscal year.
ADOPTED by the Otsego City Council this 14th day of July, 2014.
MOTION made by Council Member Schroeder and SECONDED by Council Member
Darkenwald.
IN FAVOR: Stockamp, Schroeder, Heidner, Darkenwald, Warehime
OPPOSED: None
CITY OF OTSEGO
DAM
ATTEST:
Tauri Lo , City Clerk