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Comprehensive Annual Financial Report as of June 30, 2011 January 20, 2012 <br />• The City's business -type activities include the Water Pollution Control Plant, Shoreline, <br />Storm Water Utility and Environmental Services. The net assets increased by $4.8 <br />million from prior fiscal year due to the increase in capital assets mainly due to land <br />acquisition and new additions to machinery and equipment for the expansion of the water <br />Pollution Control Plant. <br />The City has once again received an unqualified opinion (one that is without any reservations or <br />qualifications on the opinion) which is the highest level of assurance that can be rendered by the <br />auditors. This opinion assures that the City's financial statements are in conformity with <br />accounting principles generally accepted in the United States and has been rendered on all of the <br />City's funds, including the Redevelopment Agency of the City of San Leandro. <br />The City Council should note that the City was awarded the Certificate of Achievement for <br />Excellence in Financial Reporting for the fiscal year ended June 30, 2010 by the Government <br />Finance Officers Association of the United States and Canada (GFOA). Staff has submitted this <br />year's CAFR for the award and believes that the 2010 -11 CAFR continues to meet the stringent <br />standards of the GFOA Awards program. <br />CONCLUSION <br />Staff recommends that the Finance Committee accept and approve the City's Comprehensive <br />Annual Financial Report (CAFR) for the Year Ended June 30, 2011. <br />