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19D - 2018-19 FISCAL RPT
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19D - 2018-19 FISCAL RPT
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Last modified
1/16/2020 7:05:17 PM
Creation date
1/16/2020 5:38:03 PM
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City Clerk
Doc Type
Agenda Packet
Agency
Finance & Management Services
Item #
19D
Date
1/21/2020
Destruction Year
2025
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Comprehensive Annual Financial Report for the Fiscal Year -Ended June 30, 2019 <br />January 21, 2020 <br />Page 3 <br />Appropriation Limit Calculations, also known as GANN Limit (Exhibit 5) <br />The GANN limit established the appropriations limit on expenditures for publicly funded programs <br />in accordance with Section 1 of Article XIII of the California Constitution. <br />The accounting Division is pleased to report that no findings were noted as a result of this AUP <br />Review. <br />City's Compliance with the Statement of Investment Policy (Exhibit 6) <br />The City elected to have the auditor check for City's compliance with its Investment Policy. <br />The accounting Division is pleased to report that no findings were noted as a result of this review. <br />Measure X Agreed -Upon -Procedures Report (Exhibit 7) <br />In accordance with SAMC 35-216, staff has prepared an annual report that includes the list of <br />expenditures made with Measure X money for FY18-19. In accordance with SAMC 35-215, the <br />City's independent auditor has reviewed the annual report prepared by staff, verified the numbers <br />presented, and opined the numbers are fairly stated. On December 11, 2019, the audit <br />engagement partners presented their report to the Measure X Citizens Oversight Committee, in <br />accordance with Section 6 of Resolution No. 2019-008 (the Committee's establishing <br />resolution). We expect the Committee will prepare its annual report and make recommendations <br />to the City Council in time for the budget process, in accordance with the same establishing <br />resolution. <br />STRATEGIC PLAN ALIGNMENT <br />Approval of this item allows the City to meet Goal #4 - City Financial Stability, Objective #1 (maintain <br />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: 1. <br />Audit Opinion Letter <br />2. <br />Government Auditing Standards (GAS) Letter <br />3. <br />Audit Committee Letter <br />4. <br />Air Quality Management District (AQMD) Report <br />5. <br />GANN Limit Agreed -Upon Procedures Report <br />6. <br />Investment Policy Agreed -Upon Procedures Report <br />7. <br />Measure X Agreed -Upon Procedures Report <br />19 D-3 <br />
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