The City's auditor will present FY20 audit information to the City Council. No future action from City Council is required.

The FY2020 annual audit and Comprehensive Annual Financial Report (CAFR) has been completed. The FY20 CAFR is attached to this memo and can also be found online at https://ci.billings.mt.us/475/Budgets-Financial-Reports. Below is an overview of the parts that make up a CAFR and some information that may be useful in navigating the large document.
 

Section	Page Numbers	Content
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 FY20 CAFR.
Government Wide-Statements	Pgs 13-15	These are the financial statements of the City as a whole, all funds combined.
Fund Financial Statements	Pgs 16-26 & 130-187	These are where you will find the financial statements for each individual fund.
Notes & Supplemental Information	Pgs 27-129	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 188-216	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 217-228	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 FY20 audit information to the City Council. No fiscal effects related to the presentation of audit information