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REQUEST FOR <br />COUNCIL ACTION <br />CITY COUNCIL MEETING DATE: <br />JANUARY 17, 2017 <br />TITLE: <br />COMPREHENSIVE ANNUAL <br />FINANCIAL REPORT FOR <br />THE FISCAL YEAR -ENDED <br />JUNE 30, 2016 <br />{STRATEGIC PLAN NO. 4, 1} <br />RECOMMENDED ACTION <br />CLERK OF COUNCIL USE ONLY: <br />r_1=090=19 <br />❑ As Recommended <br />❑ As Amended <br />❑ Ordinance on 181 Reading <br />❑ Ordinance on 2nd Reading <br />❑ Implementing Resolution <br />❑ Set Public Hearing For <br />CONTINUED TO ac a <br />FILE NUMBER %i °L&I f <br />Receive and file the following audited and separately issued reports for Fiscal Year Ended June <br />30, 2016: <br />1. Comprehensive Annual Financial Report <br />2. South Coast Air Quality Management District (SCAQMD) <br />3. Appropriations Limit (GANN Limit) <br />4. Compliance with the Statement of Investment Policy <br />DISCUSSION <br />The Finance and Management Services <br />the lead on various audit and separately <br />Independent Auditor, White Nelson Diehl <br />reports and related status. <br />AUDITED REPORTS: <br />Agency - Accounting Division (Accounting Division) is <br />issued reports compiled and prepared by the City's <br />Evans LLP (WNDE). Outlined below is a list of the <br />Comprehensive Annual Financial Report (Exhibit 1) <br />The Comprehensive Annual Financial Report (CAFR), prepared by the Accounting Division <br />reports audited financial information on all City funds for the Fiscal Year ended June 30, 2016. <br />The CAFR is prepared in accordance with the Generally Accepted Accounting Principles along <br />with the reporting requirements set forth by the Governmental Accounting Standards Board. <br />The CAFR was audited by the City's independent public accounting firm, WNDE, in accordance <br />with Government Auditing Standards (GAS). WNDE was awarded a contract by the City Council <br />on May 3, 2016 after successful completion of the City's Request for Proposal (RFP) process. <br />19C -1 <br />