Sponsor:                                                         Board of Supervisors Meeting Date:


Finance Committee                                           December 8, 2005


Staff Lead:                                                     Department:


Vivian McGettigan, Finance Director                 Finance Department




FY 2005 Comprehensive Annual Financial Report



Topic Description:


In accordance with Section 15.2-2511 of the Code of Virginia, an annual independent audit of Fauquier County Government and School Division has been completed for Fiscal Year 2005 and is to be presented to the local governing body at a public session by the following December 31.  This audit was conducted by the independent certified public accounting firm of Robinson, Farmer, Cox Associates.   The audit was accomplished in accordance with accounting principles generally accepted in the United States of America.  A copy of this audit which is included in the Comprehensive Annual Financial Report (CAFR) will be made available on the County internet web page by December 31, 2005.


In addition to the CAFR, the auditors furnished recommendations pertaining to the improvements of certain areas of internal accounting control and overall accounting procedures.  The recommendations and corrective actions will also be reviewed.


In addition to providing and opportunity to review the financial statements, the work session will allow the auditors to provide a summary of their work and respond to any questions of the Board of Supervisors. 



Requested Action of the Board of Supervisors:


Conduct a work session.



Financial Impacts Analysis:





Identify any other Departments, Organizations or Individuals that would be affected by this request:


All departments, agencies and offices receiving County funds.



FY 05 Management Letter