Title
Adopt a Resolution to Accept the Audited Financial Statements for the City of San Leandro for the Fiscal Year Ending June 30, 2022
Staffreport
SUMMARY AND RECOMMENDATIONS
Staff recommends that the City Council adopt a resolution accepting the audited financial statements, including the Annual Comprehensive Financial Report for the City of San Leandro, for the fiscal year ended June 30, 2022.
BACKGROUND
The City's independent auditor, Maze & Associates, completed the audit of the City's financial statements and provided the auditor's reports for the fiscal year ended June 30, 2022. The Finance Department prepares the City's financial statements in the form required for the Annual Comprehensive Financial Report (ACFR). The Government Accounting Standards Board recommends the elements for the ACFR format. The ACFR and the related financial statements fully disclose the financial condition of the City and other reporting units of the City.
The ACFR and other compliance reports prepared for the year ended June 30, 2022, include:
1. Annual Comprehensive Financial Report
2. Measure B Compliance Audit
3. Measure BB Compliance Audit
4. Measure F/Vehicle License Fee Compliance Audit
5. Report regarding the Appropriations Limit Calculation for 2022-2023
6. Memorandum on Internal Control
7. Memorandum on Required Communications
The ACFR details the total of all financial accounting for the fiscal year. The financial reporting provided in the ACFR is in greater detail than the basic financial statements and is made up of three primary sections:
* Introductory Section: provides general information about the City including the letter of transmittal, list of principal officers, and an organizational chart.
* Financial Section: provides the overall financial information for the City including the report of the independent auditor, management's discussion, and analysis (MD&A), the basic financial statements, notes to the basic financial statements, required...
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