City of Oak Creek

Common Council Report

Meeting Date:  07/17/07

Item No.:        

Recommendation:  That the Common Council adopt Resolution No. 10778-071707, accepting the 2006 Financial Statement and Auditors’ Report as prepared and presented by Virchow, Krause & Company, LLP.

Background:  On 7/17/07, representatives of Virchow Krause & Company, LLP presented the 2006 Financial Statement and Auditors’ Report.  It is appropriate for the Common Council to formally accept the document.

Fiscal Impact:  Fees for the 2006 audit are $34,000.  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