19D - 2018-19 FISCAL RPT - Laserfiche WebLink

Home Browse Search

Comprehensive Annual Financial Report for the Fiscal Year -Ended June 30, 2019 January 21, 2020 Page 2 accounting firm, WNDE, audits the financial statements, reviews other financial items at the City's request, and issues reports. The Accounting Division is pleased to report that the City received an unmodified opinion commonly known as a clean opinion; which is considered the most favorable conclusion for the audit. The unmodified opinion indicates that the City's financial statements present fairly, in all material respects, the financial position of the City, changes in financial position, and cash flows for the fiscal year ended June 30, 2019 (Exhibit 1). The CAFR for the fiscal year ended June 30, 2019 is posted and available on the City's website (https://www.santa-ana.org/sites/default/files/finance/Accounting/2019_cafr.pdf) along with prior fiscal years. The report was submitted to the Government Finance Officer Association's Certificates of Achievement for Excellence in Financial Reporting Program. The award is the highest form of recognition in governmental accounting and financial reporting. The City has received this prestigious award for forty-one consecutive years. In addition to the audit opinion, WNDE issued the following communication letters: Government Auditing Standards (GAS) Letter (Exhibit 2) Auditor's communication of reportable conditions based on their review of the City's internal controls over financial reporting and on compliance. The results of their review disclosed no instances of noncompliance for the fiscal year 2018-19. Audit Committee Letter (Exhibit 3) Formal communication from the auditor to the City Council; acting as the City's Audit Committee, which discloses information related to the audit, including but not limited to the City's accounting practices and implementation of new accounting rules and estimates. Audit of the City's Air Quality Management District (AQMD) Financial Statements (Exhibit 4) Under Assembly Bill 2766 Chapter 1705 [California Health and Safety Code (CHSC) Sections 44220 through 44247] cities and counties receiving the AB 2766 funds are required to separately account for the revenue and to expend the revenue for air pollution reduction measures. The AQMD audit report reflects the City's compliance to such measures. The Accounting Division is pleased to report that the City received an unmodified opinion (clean) on the AQMD audit report and no compliance findings were noted. Single Audit Report — Not Included Herein The City is also required to have a Single Audit of federal financial assistance by March 315t following each fiscal year. Staff expects the Single Audit will be issued during February 2020 and will be presented to the City Council on a public on an agenda shortly thereafter. SEPARATELY ISSUED REPORTS: In addition to the CAFR and the AQMD reports, WNDE performed the following Agreed Upon Procedures (AUP) examinations. 19 D-2