2 - DUE DILIGENCE ALL FUNDS AND ACCT BALANCES

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SUCCESSOR AGENCY TO THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA Attachment A - Agreed-Upon Procedures and Findings (Continued) Successor Agency, Except its Low and Moderate Income Housing Fund i. Combine the amount of identified current dedicated or restricted balances and the amount of forecasted annual revenues to arrive at the amount of total resources available to fiord enforceable obligations. ii. Reduce the amount of total resources available by the amount forecasted for the annual spending requirements. A negative result indicates the amount of current unrestricted balances that needs to be retained. iii. Include the calculation in the AUP report. Findings: For procedures 8A and 8D, we noted the Successor Agency did not believe that asset balances, excluding the Low and Moderate Income Housing Fund Assets, held by the Successor Agency pertaining to this procedure are dedicated or restricted for the finding of enforceable obligations. Procedures 8B and 8C are not applicable to the Successor Agency. 9) Procedure: If the Successor Agency believes that, as of June 30, 2012, cash balances, excluding the Low and Moderate Income Housing Fund Assets, held by the Successor Agency need to be retained to satisfy obligations on the Recognized Obligation Payment Schedules (BOPS) for the period of July 1, 2012 through June 30, 2013, obtain copies of the final ROPS for the periods of July 1, 2012 through December 31, 2012, and January 1, 2013 through June 30, 2013. For each obligation listed on the ROPS, the Successor Agency should add columns identifying (1) any dollar amounts of existing cash that are needed to satisfy that obligation and (2) the Successor Agency's explanation as to why the Successor Agency believes that such balances are needed to satisfy the obligation. Include this schedule as an attachment to the AUP report. Findings: Based on our inquiry with management, the Successor Agency believes that $25,761,601 of the cash balances, excluding the Low and Moderate Income Housing Fund Assets, held by the Successor Agency at June 30, 2012, are needed to satisfy obligations on the ROPS for the period of July 1, 2012 through December 31, 2012. No exceptions were noted as a result of the procedure performed. Please refer to Exhibit I for the results of this procedure. 10) Procedure: Include a schedule detailing the computation of the Balance Available for Allocation to Affected Taxing Entities. Amounts included in the calculation should agree to the results of the procedures performed in each section above. The schedule should also include a deduction to recognize amounts already paid to the County Auditor-Controller on July 12, 2012, as directed by the California Department of Finance. The amount of this deduction presented should be agreed to evidence of payment. Finding: No exceptions were noted as a result of the procedure performed. Please refer to Exhibit J for the results of this procedure. 2-195