Title
Audited Financial Statements for the City of San Leandro for the Fiscal Year Ending June 30, 2021
Staffreport
SUMMARY AND RECOMMENDATIONS
Staff recommends that the Finance Committee review the Audited Financial Statements for the City of San Leandro for the fiscal year ended June 30, 2021, and recommend acceptance by the City Council at their January 18, 2022 meeting.
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, 2021. The Finance Department prepares the City's financial statements in the form required for the Comprehensive Annual Financial Report. Please note that the new acronym for the Comprehensive Annual Financial Report is ACFR based on a new pronouncement issued by the Government Accounting Standards Board (GASB). 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 Comprehensive Annual Financial Report and other compliance reports prepared for the year ended June 30, 2021 are described below.
1. Comprehensive Annual Financial Report
2. Measure B Compliance Audit
3. Measure BB Compliance Audit
4. Measure F/Vehicle License Fee Compliance Audit
5. Report regarding Appropriations Limit Calculation for Fiscal Year 2021-22
6. Single Audit
7. Memorandum on Internal Control and Required Communications
The ACFR shows 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 informat...
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