Title
Staff Report for the Resolution Approving the Comprehensive Annual Finance Report (CAFR) for the Year Ending June 30, 2012
Staffreport
SUMMARY AND RECOMMENDATIONS
Staff recommends that the City Council accept the CAFR for fiscal year ended June 30, 2012.
BACKGROUND
The City’s independent auditor, Maze & Associates, has completed the audit of the City’s financial statements and provided their auditor’s reports for the year ended June 30, 2012. The Finance Department prepared the City’s financial statements as part of its CAFR for the year ended June 30, 2012. The Government Accounting Standards Board (GASB) recommends the elements for the CAFR format. The CAFR and the related financial statements fully disclose the financial condition of the City, Successor Agency to the Redevelopment Agency, and other reporting units of the City.
Other financial statements for the year ended June 30, 2012 are reviewed and prepared by the City’s external auditor:
1. Alameda County Transportation Authority- Measure B Funds
2. Redevelopment Agency of San Leandro (Component Unit Report)
3. Transportation Development Act Article III Fund
4. Appropriations Limit Schedule and Independent Accountant’s Report
5. Single Audit of Federal Grant Expenditures in accordance with U.S. Office of Management and Budget Circular A-133
The primary report, the CAFR, contains three sections. The first is the introductory section, which provides general information on the City’s structure, personnel, economic condition, and finances. The financial section includes the independent auditor’s report, the general-purpose financial statements and related notes, and supplementary information. Finally, the statistical section includes pertinent financial and non-financial demographic data.
The format of the CAFR is designed to serve the needs of three primary users. CAFR information serves the City Council and other governmental oversight bodies, the public, and agencies assessing the C...
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