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Comprehensive Annual Financial Report <br />for the Fiscal Year -Ending June 30, 2017 <br />January 16, 2018 <br />Page 2 <br />Accounting Division is pleased to report that the City received an unmodified opinion; the <br />commonly known as a clean opinion, which is considered the most favorable conclusion <br />for the audit. The unmodified opinion indicates that the City's financial statements present <br />fairly, in all material respects, the financial position of the City, changes in financial position, <br />and cash flows for the fiscal year ended June 30, 2017. <br />Under Assembly Bill 2766 Chapter 1705 [California Health and Safety Code (CHSC) Sections <br />44220 through 44247] cities and counties receiving the AB 2766 funds are required to separately <br />account for the revenue and to expend the revenue for air pollution reduction measures. The AQMD <br />audit report reflects the City's compliance to such measures. <br />Accounting Division is pleased to also report that the City received an unmodified opinion <br />on the AQMD audit report and no compliance findings were noted. <br />SEPARATELY ISSUED REPORTS: <br />In addition to the CAM and the AQMD reports, WNDE performed the following Agreed Upon <br />Procedures (AUP) examinations: <br />Appropriation Limit Calculations also known as GANN Limit <br />The GANN limit established the appropriations limit on expenditures for publicly funded programs <br />in accordance with Section 1 of Article XIII of the California Constitution. <br />Accounting Division is pleased to report that no findings were noted as a result of this AUP <br />Review. <br />City's Compliance with the Statement of Investment Policy <br />The report on the City's Investment Policy is elected to be performed by the City to ensure <br />compliance. <br />Accounting Division is pleased to report that no findings were noted as a result of this AUP <br />review. <br />The CAM is posted and available on the City's website. In addition, FMSA submitted the report <br />to the Government Finance Officers Association's Certificate of Achievement for Excellence in <br />Financial Reporting Program. This award is the highest form of recognition in governmental <br />accounting and financial reporting. The City has received this prestigious award for thirty-nine <br />consecutive years. <br />19D-2 <br />