DATE: February 1, 2022
TO: Mayor and City Council
FROM: Director of Finance
SUBJECT
Adopt a Resolution Accepting and Filing the Annual Comprehensive Financial Report for the Year Ended June 30, 2021
RECOMMENDATION
That the Council adopts a resolution (Attachment II) accepting and filing the City’s Annual Comprehensive Financial Report (ACFR) (Attachment III) for the fiscal year ended June 30, 2021.
SUMMARY
Each year, the City conducts an independent financial audit, which is performed by an external contractor. Auditing standards require auditors to formally communicate the results directly to the agency’s governing body, to establish direct and effective two-way communication with Council and staff, and to convey audit matters, the scope of work, difficulties encountered, adjustments to financial statements, or any possible disagreements with management. As in previous years, the auditor’s opinion on the City’s financial statements for fiscal year 2020 is without exception and is unmodified. There were no significant findings with respect to either the City’s FY2020 financial statements or FY2021 statements.
ATTACHMENTS
Attachment I Staff Report
Attachment II Resolution
Attachment III Comprehensive Annual Financial Report