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REQUEST FOR <br />COUNCIL ACTION <br />CITY COUNCIL MEETING DATE: <br />SEPTEMBER 20, 2010 <br />TITLE: <br />SANTA ANA EMPOWERMENT <br />CORPORATION FINANCIAL AUDIT <br />FOR FY 2009-2010 AND DISSOLUTION OF <br />THE SANTA ANA EMPOWERMENT <br />CORPORATION <br />a, fi, 02?? <br />CITY MANAGER <br />RECOMMENDED ACTION <br />CLERK OF COUNCIL USE ONLY: <br />APPROVED <br />? As Recommended <br />? As Amended <br />? Ordinance on 1st Reading <br />? Ordinance on 2"d Reading <br />? Implementing Resolution <br />? Set Public Hearing For_ <br />CONTINUED TO <br />FILE NUMBER <br />Approve the closing Financial Audit of the Santa Ana Empowerment Corporation for fiscal year <br />2009-2010 as prepared by Macias Gini & O'Connell LLP. <br />2. Authorize the City Attorney and City Manager to proceed with the dissolution of the Santa Ana <br />Empowerment Corporation. <br />DISCUSSION <br />The City of Santa Ana received a Federal Empowerment Zone designation in 1999 from the <br />Department of Housing and Urban Development (HUD). This designation expired on December 31, <br />2009. As part of the Empowerment Zone requirements, an A-133 audit is necessary. The Santa Ana <br />Empowerment Corporation (SAEC) contracted with Macias Gini & O'Connell LLP to conduct a final <br />financial audit of the Corporation that was established to oversee and implement the grant on behalf <br />of the City. <br />The financial audit took place the week of August 9, 2010. The auditors found no material issues and <br />determined that the SAEC was in compliance with the Nonprofit Integrity Act of 2004. A copy of the <br />audit will be submitted to HUD for its records and the City Attorney will proceed with dissolving the <br />Santa Ana Empowerment Corporation with the Secretary of State. <br />FISCAL IMPACT <br />There is no fiscal impact associated with this action <br />/7 _ . ,-l_ '-f <br />Cynthia"J. Nelson V <br />Deputy City Manager for Development Services <br />Community Development Agency <br />CJN/LAS/DS/mlr <br />Exhibit: 1. Financial Audit <br />19C-1