City of Oak Creek

Common Council Report

Meeting Date:  07/18/06

Item No.:        

Recommendation:  That the Common Council adopt Resolution No. 10654-071806, accepting the 2005 Financial Statement and Auditors’ Report as prepared and presented by Virchow, Krause & Company, LLP.

Background:  On 7/18/06, representatives of Virchow Krause & Company, LLP presented the 2005 Financial Statement and Auditors’ Report.  It is appropriate for the Common Council to formally accept the document.

Fiscal Impact:  Fees for the 2005 audit are $33,500.00.  Funds are budgeted in the City Clerk’s Office Account 44-530 each year to cover the cost of the annual audit.

	Respectfully submitted, Patrick DeGrave City Administrator
Prepared by and Fiscal Review by: Beverly A. Buretta, CMC City Clerk/Comptroller