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Comprehensive Annual Financial Report for the Fiscal Year Ended June 30, 2013
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Submitted to the Board for review and informational purposes is the Comprehensive Annual Financial Report (CAFR) for the fiscal year ended June 30, 2013. A review of the CAFR was presented to the Authority's Audit Committee. The CAFR consists of four major sections:
1. The Introductory Section includes the Transmittal Letter with the Water Authority's Organizational Chart, and a listing of the Water Authority's Officials, as well as other relevant information to assist the reader in understanding the Water Authority's management structure, operations and financial condition.
2. The Financial Section which includes the Independent Auditor's Report, Management's Discussion and Analysis of the Financial Statements, the Water Authority's Financial Statements for the Fiscal Year ended June 30, 2013, explanatory footnotes, and supplementary information.
3. The Statistical Information Section contains tables with general information about the Water Authority and comparative data for prior years.
4. State Compliance and Operational Findings includes certain schedules required by the State Auditor's Office.
The CPA firm of REDW, LLP audited the basic financial statements and state: "In our opinion, the basic financial statements referred to above present fairly, in all material respects, the financial position of the Water Authority as of June 30, 2013, the changes in its financial position and its cash flows for the year ended in conformity with accounting principles generally accepted in the United States of America".
FISCAL IMPACT:
None.
COMMENTS:
The CAFR has historically been submitted late to the State Auditor due to the reliance of the City of Albuquerque's financial system. The CAFR cannot be submitted until the audited financial reports are prepared and finalized. FY13 will be the last CAFR, which is linked to the City's financial system. Both the City ...
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