No Council action is needed on this item.

Each year the City's financial statements are audited by an outside independent auditor. The fiscal year 2021 audit is complete, the City received a clean audit opinion with no findings. The Annual Comprehensive Financial Report (ACFR) is available online at: https://www.ci.billings.mt.us/475/Budgets-Financial-Reports. The City's auditor JCCS P.C. will be at City Council to present the results of the FY 2021 audit. To help more easily navigate the ACFR, I have provided a summarized table of contents.
 

Section	Page Number	Content Description
Auditor's Report	Pgs 1-2	This is the auditor's opinion related to our financial reporting.
Management Discussion & Analysis	Pgs 3-12	This is a brief high level overview of the ACFR.
Government Wide-Statements	Pgs 13-15	These are the financial statements of the City as a whole, all funds combined.
Fund Financial Statements	Pgs 16-27, 134-192	These are where you will find the financial statements for each individual fund.
Notes & Supplemental Information	Pgs 28 -133	The notes provide greater detail about different elements of the financial statements. Here you can find detailed information about investments, debt, capital assets, and other major elements of the financial statements.
Statistical Section	Pgs 193-221	This section is made up of a variety of historical financial statistics that can be helpful when looking for financial trend data.
Single Audit Section	Pgs 221-233	This is the information related to the audit of the City's Federal Grants.

No future action by City Council is necessary.

The City's auditor will present FY21 audit information to the City Council. No fiscal effects related to the presentation of audit information