BOARD MEETING DATE: February 3, 2006
AGENDA NO. 21

Audit for FY Ended June 30, 2005

SYNPOSIS:

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, January 13, 2006, Recommended for Approval

RECOMMENDED ACTIONS:

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, 2005.

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, 2005, 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(s)

• The Comprehensive Annual Financial Report (CAFR), which includes the Independent Auditor’s Report, is being provided to Board Members and is available for public viewing at AQMD’s library or website at http://www.aqmd.gov/finn/2005-06/CAFR2005.pdf

• OMB Circular A-133 Reports that include Report on Compliance and on Internal Control over Financial Reporting Based on an Audit of the Basic Financial Statements Performed in Accordance with Government Auditing Standards, Report on Compliance with Requirements Applicable to Each Major Program and Internal Control over Compliance in Accordance with OMB Circular A-133, and Schedule of Expenditures of Federal Awards – Copies are being provided to Board Members and is available in AQMD’s library for public viewing.

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