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Finance and Management Services <br />www.santa-ana.org/finance <br />Item # 10 <br />City of Santa Ana <br />20 Civic Center Plaza, Santa Ana, CA 92701 <br /> Staff Report <br />January 21, 2025 <br />TOPIC: Receive and File – Fiscal Year 2023-24 Annual Comprehensive Financial <br />Report, related audit reports, and Measure X Agreed-Upon-Procedures Report <br />AGENDA TITLE <br />Receive and File – Fiscal Year 2023-24 Annual Comprehensive Financial Report, Related <br />Audit Reports, and Measure X Agreed-Upon-Procedures Report <br />RECOMMENDED ACTION <br />Receive and file the following audited and separately issued reports for the Fiscal Year <br />Ended June 30, 2024: <br />1. The Auditor’s unmodified “clean” opinion letter for the fiscal year 2023-24 Audited <br />Financial Statements included in the Annual Comprehensive Financial Report <br />(ACFR) <br />2. Government Auditing Standards (GAS) Letter <br />3. Governance Letter <br />4. Air Quality Management District (AQMD) Audited Financial Statements <br />5. The Auditor’s report on the Appropriations Limit (GANN Limit) <br />6. The Auditor’s report on compliance with the Statement of Investment Policy <br />7. Measure X Agreed-Upon-Procedures Report <br />GOVERNMENT CODE §84308 APPLIES: No <br />DISCUSSION <br />The Finance and Management Services – Accounting Division (Accounting Division) is <br />the lead on various audit and separately issued reports compiled and prepared by the <br />City’s Independent Auditor, CliftonLarsonAllen LLP (CLA). Outlined below is a list of the <br />reports and related status. <br />AUDIT REPORTS: <br />Audited Financial Statements – Annual Comprehensive Financial Report for the Fiscal <br />Year Ended June 30, 2024 <br />Annually, the Accounting Division prepares an ACFR, which includes the City’s audited <br />financial statements and statistical information for each fiscal year. The ACFR is prepared <br />in accordance with the Generally Accepted Accounting Principles (GAAP) along with the <br />reporting requirements of the Governmental Accounting Standards Board (GASB). The