Finance Highlights 2009 0120 V1 - Laserfiche WebLink

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CITY OF SAN LEANDRO MEMORANDUM Date: January 15, 2009 To: Steve Hollister, City Manager From: Perry Carter, Interim Finance Director ~-' Subject: Comprehensive Annual Financial Report (CAFR), Fiscal Year Ended June 30, 2008 I am pleased to submit for your review the CAFR for the City of San Leandro for the fiscal year ended June 30, 2008 (2007-08). As you know the CAFR reports on all financial transactions of the City for the year and discloses significant information regarding the City's operations, assets and liabilities. In addition, and in conformance with the City's Charter, the financial statements of the City are audited by a qualified independent auditor. Such an audit was performed for the fiscal year 2007-08 and I can report that the City has once again received a "clean" opinion (one that is without any reservations or qualifications on the opinion) which is the highest level of assurance that can be rendered by the auditors. This opinion has been rendered on all of the City's funds, including the Redevelopment Agency of the City of San Leandro. You will note in the CAFR that the City was awarded the Certificate of Achievement for Excellence in Financial Reporting for the fiscal year ended June 30, 2007 by the Government Finance Officers Association of the United States and Canada (GFOA). Staff has submitted this year's CAFR for the award and believes that the 2007-08 CAFR continues to meet the stringent standards of the GFOA Awards program. Many of the City's dedicated staff contributed to the development of the City's CAFR. However, in particular, I would like to express appreciation to Carla Rodriguez, Deputy Finance Director, Christine Galvin, Senior Accountant, Clarence Youngs, Accountant I and Sally Perez, Administrative Assistant III, whose untiring efforts made the report possible. In addition, I would like to thank the City Manager's Office and the City Council for the continued support of nothing less than a program of professional financial reporting for the City of San Leandro.