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Honorable City Council <br />City of Santa Ana <br />Page 2 <br />b. Included those funds under management of contracted parties (fiscal agents, trustees, <br />etc.). <br />c. Included market value (and source) as of the date of the report for all securities held by <br />the City or under management of any outside party that was not also a local agency or <br />the State of California Local Agency Investment Fund. <br />d. Stated compliance of the portfolio to the Policy of the City. <br />e. Included a statement addressing the ability of the City to meet the pool's expenditure <br />requirements for the next six months. <br />No exceptions were noted as a result of our performing this procedure. <br />5. We compared the investments listed in the City's Quarterly Investment Report for the quarter <br />ended June 2021 to the prohibited investments listed in the Code. <br />No exceptions were noted as a result of our performing this procedure. <br />6. We obtained and observed the date of submission of City's Quarterly Investment Report for the <br />quarter ending June 30, 2021 per the submission evidence documentation to determine that the <br />date is within 30 days following the end of the quarter. <br />No exceptions were noted as a result of our performing this procedure. <br />We were engaged by the City of Santa Ana to perform this agreed -upon procedures engagement and <br />conducted our engagement in accordance with attestation standards established by the <br />American Institute of Certified Public Accountants and the standards applicable to attestation <br />engagements contained in Government Auditing Standards, issued by the Comptroller General of the <br />United States. We were not engaged to and did not conduct an examination or review <br />engagement, the objective of which would be the expression of an opinion or conclusion, <br />respectively, on the compliance with the Policy. Accordingly, we do not express such an opinion or <br />conclusion. Had we performed additional procedures, other matters might have come to our attention <br />that would have been reported to you. <br />We are required to be independent of the City of Santa Ana and to meet our other ethical <br />responsibilities, in accordance with the relevant ethical requirements related to our agreed - <br />upon procedures engagement. <br />This report is intended solely for the information and use of City Council and management of the <br />City and is not intended to be, and should not be, used by anyone other than these specified parties. <br />LLB <br />CliftonLarsonAllen LLP <br />Irvine, California <br />December 8, 2021 <br />