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Fiscal Year 2017-18 Comprehensive Annual Financial Report <br />December 18, 2018 <br />Page 4 <br />There are carry forwards for many of the restricted funds as well. The fund balances for <br />restricted funds are already classified as such. <br />Beginning with the carry forward requests for FY18-19 to FY19-20, staff will provide a <br />comprehensive list of all requests, including those for restricted funds, for City Council <br />consideration by the close of the books each year. The Executive Director of FMSA will only <br />recommend carry forwards for non-recurring budget items such as construction projects, studies, <br />or one-time initiatives. Carry forwards for recurring budget items to stockpile appropriations will <br />not be recommended, as the City Council considers adoption of a new budget each year. <br />STRATEGIC PLAN ALIGNMENT <br />Approval of this item allows the City to meet Goal #4 - City Financial Stability, Objective #1, <br />(Maintain a stable, efficient and transparent financial environment). <br />FISCAL IMPACT <br />There is no fiscal impact associated with this action. <br />Kathryn Downs, CPA <br />Executive Director <br />Finance and Management Services Agency <br />Exhibits: <br />1. Audit Opinion Letter <br />2. Government Auditing Standards (GAS) Letter <br />3. Audit Committee Letter <br />4. Air Quality Management District (AQMD) Report <br />5.GANN Limit Agreed -Upon Procedures Report <br />6. Investment Policy Agreed -Upon Procedures Report <br />7. List of all Fund Balances <br />19E-4 <br />