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REQUEST FOR <br />COUNCIL ACTION <br />CITY COUNCIL MEETING DATE: <br />APRIL 5, 2016 <br />TITLE: <br />UPDATE ON FINANCE, ECONOMIC <br />DEVELOPMENT AND TECHNOLOGY <br />COUNCIL COMMITTEE RELATED ITEMS <br />(STRATEGIC PLAN NO. 3; 4; 6) <br />1 L( / <br />CITY MANAGER <br />RECOMMENDED ACTION <br />CLERK OF COUNCIL USE ONLY: <br />_^•• _s <br />0 As Recommended <br />El <br />As Amended <br />Csl <br />Ordinance on 1� Reading <br />171 <br />Ordinance on 2nd Reading <br />d <br />Implementing Resolutlon <br />0 <br />Set Public Hearing For <br />10101 l 11121JL4Apkf+7 <br />FILE NUMBER <br />Receive and file an update on Finance, Economic Development, and Technology Council <br />Committee related items. <br />DISCUSSION <br />Under the direction of the City Manager, City staff prepared updates on a number of agenda <br />items scheduled for the March 21, 2016 Finance, Economic Development and Technology <br />(FEDT) Council Committee special meeting. Given the cancelation of the FEDT special meeting, <br />City staff has compiled the updates and provides the following summary. <br />FINANCE: <br />Fiscal Year 2014 -2015 Single Audit Review and Findings <br />The City's FY 2014 -15 Single Audit (Audit) was issued an "Unmodified Opinion ", the highest level <br />of audit assurance provided by the independent auditor, Macias Gini & O'Connell (MGO), and <br />expenditure of Federal Grant funds totaling $52,812,269 for 25 programs. In addition, the Audit <br />did not disclose any financial statement findings or material and /or significant deficiencies related <br />to the City's internal control. <br />However, the Audit noted four instances of non - compliance related to the administration of <br />federal grant programs in the areas of Housing, Police, and Community Development. This <br />included failure to maintain written policies related to obtaining grant information and monitoring <br />of sub - recipients for grant funding. Corrective action has been taken by City staff to become in <br />compliance with the noted findings. <br />Request for Proposals — Audit Services <br />The City issued a Request for Proposals (RFP), on February 10, 2016, to provide the City audit <br />services including but not limited to issuance of the City's Comprehensive Annual Financial <br />1913-1 <br />