BOARD MEETING DATE: February 4, 2005
AGENDA NO. 17
(Continued from January 7, 2005 Board Meeting)

Audit for FY Ended June 30, 2004

SYNOPSIS:

This agenda item transmits the annual financial audit of the AQMD performed by an independent certified public accountant. The AQMD has received an unqualified opinion (the highest obtainable) on its financial statements.

COMMITTEE:

Administrative, December 10, 2004, Recommended for Approval

RECOMMENDED ACTION:

Receive and file the AQMD’s Comprehensive Annual Financial Report (CAFR), Schedule of Federal Financial Assistance and Single Audit Reports for the FY ended June 30, 2004.

Barry R. Wallerstein, D.Env.
Executive Officer

Background

The audit of the AQMD financial statements, along with the Schedule of Federal Awards and Single Audit Reports for the Fiscal Year ended June 30, 2004, have been completed by Simpson & Simpson, Certified Public Accountants. AQMD has received an unqualified opinion on its financial statements. An unqualified opinion is the highest obtainable, assuring interested parties that our financial statements present fairly the financial position of AQMD.

Attachment

• CAFR, which includes the Independent Auditor’s Report, is available on AQMD’s website at http://www.aqmd.gov/finn/2004/CAFR 2004 - FINAL.pdf. Copies were provided to Board Members at the January 7, 2005 Board meeting.
• Single Audit Reports (OMB Circular A-133 Reports), includes Schedule of Federal Awards and Reports on Compliance and Internal Control and Audit Observations and Recommendations - Copies are being provided to Board Members and is available in AQMD’s library for public viewing.

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