FULL PACKET_2018-12-18 - Laserfiche WebLink

Home Browse Search

Fiscal Year 2017-18 December 18, 2018 Page 3 Comprehensive Annual Financial Report The GANN limit established the appropriations limit on expenditures for publicly funded programs in accordance with Section 1 of Article XIII of the California Constitution. • Staff is pleased to report that no findings were noted as a result of this AUP Review. City's Compliance with the Statement of Investment Policy The report on the City's Investment Policy is elected to be performed by the City to ensure compliance. • Staff is pleased to report that no findings were noted as a result of this AUP review. Single Audit— Not Included Herein The City is also required to have a Single Audit of federal financial assistance by March 31St following each fiscal year. Staff expects the Single Audit will be issued during February 2019 and will be presented to the City Council and the public on an agenda shortly thereafter. List of all Fund Balances The City uses many funds to account for its financial transactions. Due to the number of funds, many are combined into single columns within the audited financial statements. This practice is common amongst cities, accepted by GASB and the auditors, and results in financial statements that are easier for the public to read. In the interest of full disclosure, staff has prepared a list of all individual funds; including the fund name and number, the financial statement column that includes the fund, the fund balance as of June 30, 2018, and a brief description of the purpose, revenue, and/or restriction. This list is a useful tool for the Council and staff to understand what balances may be available for future initiatives, and what balances may signal the need for a change in budgeting or accounting. General Fund Carry Forward Amounts During and after the close of the fiscal year, the Budget Office received requests via memorandums from departments to carry forward unspent funds from fiscal year 2017-18 to fiscal year 2018-19. The carryforward requests are derived largely because of projects or contracts not completed prior to June 30, 2018. These carryforward requests are reviewed and included in the Assigned Fund Balance classification within the audited financial statements. This means the amounts carried over to the FY18-19 budget are not included in the Unassigned/Undesignated or "Spendable" fund balance at June 30, 2018. Below is the current list of the General Fund carry forward requests submitted by Departments FY 17-18 CARRY FORWARDS TO FY 18-19 Total: 529,871 19E-3 Attu DEPT Prore eUProyram11 -tin® ACCOUNT AMOUNT PD Annual Ammo Purchase 01114410 63001 70,000 PD Maintenance of the Police Department'Jail System(1MS) 01114425 62300 55,000 PWA SARTCMaintenance 01117650 01117650 62300 66200 110,867 178,125 SMSA (Safe Transit Stops) 01117620 6620D 19,778 PWA CDA Greater Santa Ana Vitality 01118810 62300 96,101 Total: 529,871 19E-3