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Finance and Management Services www.santa-ana.org/finance Item # 10 City of Santa Ana 20 Civic Center Plaza, Santa Ana, CA 92701 Staff Report February 21, 2023 TOPIC: Receive and File Fiscal Year 2021-22 Annual Comprehensive Financial Report, related audit reports, and Measure X Agreed-upon-Procedures Report AGENDA TITLE: Receive and File Fiscal Year 2021-22 Annual Comprehensive Financial Report, Related Audit Reports, and Measure X Agreed-upon-Procedures Report RECOMMENDED ACTION Receive and file the following audited and separately issued reports for the Fiscal Year Ended June 30, 2022: 1. The Auditor’s unmodified “clean” opinion letter for the fiscal year 2021-22 Audited Financial Statements included in the Annual Comprehensive Financial Report (ACFR) 2. Government Auditing Standards (GAS) Letter 3. Governance Letter 4. Air Quality Management District (AQMD) Audited Financial Statements 5. The Auditor’s report on the Appropriations Limit (GANN Limit) 6. The Auditor’s report on compliance with the Statement of Investment Policy 7. Measure X Agreed-Upon-Procedures Report DISCUSSION The Finance and Management Services Agency’s Accounting Division (Accounting Division) is the lead on various audit and separately issued reports compiled and prepared by the City’s Independent Auditor, CliftonLarsonAllen LLP (CLA). Outlined below is a list of the reports and related status. AUDIT REPORTS: Audited Financial Statements – Annual Comprehensive Financial Report for the Fiscal Year Ended June 30, 2022 Annually, the Accounting Division prepares an ACFR, which includes the City’s audited financial statements and statistical information for each fiscal year. The ACFR is prepared in accordance with the Generally Accepted Accounting Principles (GAAP) along with the reporting requirements of the Governmental Accounting Standards Board City Council 10 – 1 2/21/2023