Resolution No. 2021-43 App and Accept CAFR
Resolution No. 2021-43
Approval and Acceptance of the Comprehensive Annual Financial Report and the Schedule of
Expenditures of Federal Awards for the Fiscal year ending December 31, 2020
Whereas, Minnesota Statute § 471.697 and City Charter § 7.11 require the City Manager to submit to
the City Council and other parties a complete financial report for the City of Fridley (City) for the
preceding fiscal year; and
Whereas, the Code of Federal Regulations, Part 200, Uniform Administrative Requirements, Cost
Principles and Audit Requirements for Federal Awards (Uniform Guidance), requires any non-federal
entity that expends $750,000 or more in federal awards in a fiscal year to conduct an addition audit,
known as a single audit; and
Whereas, the City engaged the Redpath and Company (Redpath) to audit the financial statements and
federal expenditures of the governmental activities, business–type activities, aggregate discretely
presented component units, each major fund and aggregate remaining fund information of the City for
the fiscal year ending December 31, 2020; and
Whereas, Redpath conducted a virtual site visit between April 5, 2021 and April 16, 2021 to complete
the majority of the auditing process for the fiscal year ending December 31, 2020; and
Whereas, as a result of this process, Redpath issued an unmodified or “clean” audit opinion, indicating
the financial statements of the City are fairly presented and free on any material misstatement in
accordance with Generally Accepted Accounting Principles (GAAP).
Now, therefore be it resolved, that the City Council of the City of Fridley hereby approves and accepts
the Comprehensive Annual Finance Report for the fiscal year ending December 31, 2020, attached
hereto as Exhibit A; and
Be it further resolved, that the City Council approves and accepts the Schedule of Expenditures of
Federal Awards and independent auditor’s report for the fiscal year ending December 31, 2020, attached
hereto as Exhibit B.
th
Passed and adopted by the City Council of the City of Fridley this 24 day of May, 2021.
_____________________________________________
Scott J. Lund – Mayor
ATTEST:
__________________________________________
Daniel Tienter – City Clerk
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Government Finance Officers Association
Certificate of
Achievement
for Excellence
in Financial
Reporting
Presented to
City of Fridley
Minnesota
For its Comprehensive Annual
Financial Report
For the Fiscal Year Ended
December 31, 2019
Executive Director/CEO
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Government Auditing
Standards
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Required Supplementary Information
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Other Information
Government Auditing Standards
Government Auditing Standards
Government Auditing Standards
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Accounting and Financial Reporting for Pensions – an
Amendment of GASB Statement No. 27
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Governmental Activities,
business-type activities,
Direct expenses
Program revenues
general revenues
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economic resources
measurement focusaccrual basis of accounting
current financial resources
measurement focusmodified accrual basis of accounting
available
eneral Fund
Debt Service Fund
TIF 20 Note Payoff Fund
Street Improvements Fund
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Community Investment Fund
Liquor Fund
Water Fund
Sewer Fund
Storm Water Fund
Internal Service Funds
Fiduciary Funds - Custodial Funds
program revenues
general revenues
operating nonoperating
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Nonspendable
Restricted
Committed
Assigned
Unassigned
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deferred outflows
of resources
not
deferred
inflows of resources
not
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fund balance – total
governmental funds net position – governmental activities
net changes in fund balances – total governmental funds
changes in net position of governmental activities
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Leases.
Accounting for Interest Cost Incurred before the End of a Construction Period.
Conduit Debt Obligations.
Omnibus 2020.
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Replacement of Interbank Offered Rates
Public-Private and Public-Public Partnerships and Availability Payment
Arrangements.
Subscription – Based Information Technology Arrangements.
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2020 Changes
2019 Changes
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2018 Changes
Changes in Actuarial Assumptions:
2017 Changes
Changes in Actuarial Assumptions:
2016 Changes
2020 Changes
2019 Changes
2018 Changes
Changes in Actuarial Assumptions:
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2017 Changes
Changes in Actuarial Assumptions:
2016 Changes
Changes in Actuarial Assumptions:
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